The digital age has continuously pushed the boundaries of computational capabilities, but classical computers are reaching their limits in tackling exponentially complex problems. Quantum computing is the next evolution in processing power, capable of solving problems beyond classical limits.
Unlike traditional bits, quantum bits (qubits[1]) enable calculations on a massive scale, accelerating AI, cryptography, and logistics solutions. Quantum computing, leveraging the principles of superposition[2], entanglement[3] Quantum interference presents a paradigm shift in computation. Industries actively invest in this transformative technology to gain competitive advantages in optimization, simulation, and secure communications.
2024 has presented several key breakthroughs in the field of QC, both in hardware and software, paving the way to revolutionizing industries from drug discovery to cryptography:
[1] The fundamental unit of quantum information, capable of representing both 0 and 1 simultaneously.
[2] The ability of a qubit to exist in multiple states at once, enabling parallel processing of information.
[3] Phenomenon where two or more qubits become linked, regardless of the distance between them, allowing for faster information processing.
Google Willow: Launched in December 2024, Google’s Willow chip introduces cutting-edge error correction (quantum error correction[4] and performance[5]), paving the way for scalable quantum computers.
IBM Quantum System One: IBM has enhanced qubit stability, reduced computational errors, and increased processing efficiency.
Google's Sycamore Processor: Google’s advancements in achieving quantum supremacy underscore significant progress in solving specific problems faster than classical supercomputers.
China’s Zuchongzhi: This high-performance processor continues to set benchmarks in quantum processing power.
Development of quantum algorithms has seen significant progress. Advances in quantum algorithms for factoring large numbers have implications for breaking traditional encryption methods, a development that could reshape the field of cybersecurity. Recent breakthroughs include:
Hybrid Quantum-Classical Algorithms: These models improve optimization and machine learning applications, making quantum computing more practical.
Quantum Approximate Optimization Algorithm (QAOA): Helping industries solve complex logistics and financial modeling challenges.
Post-Quantum Cryptography (PQC): Standardized efforts are underway to develop encryption methods resistant to quantum attacks.
Companies like IBM, Google, Microsoft, Amazon, and Rigetti are spearheading quantum advancements. These hyperscalers are expanding quantum cloud services, making them more accessible. The U.S., EU, and Chinese governments are investing billions into quantum research. The United Nations has designated 2025 as the International Year of Quantum Science and Technology (IYQ).
[4] Willow can reduce errors exponentially with scaling up using more qubits. This cracks a key challenge in quantum error correction that the field has pursued for almost 30 years.
[5] Willow performed a standard benchmark computation in under 5 minutes that would take one of today’s fastest supercomputers 10 septillion (that is, 1025) years — vastly exceeding the age of the Universe.
Figure 1: Timeline of Quantum Computing Development (Source: QubitX post on LinkedIn)
Quantum computing has the potential to transform various engineering disciplines, ranging from science to material science, paving unprecedented opportunities for industry verticals:
Quantum simulations are set to enable breakthroughs in chemistry, physics, and biology by accurately modelling complex systems. They will also aid advancements in materials science by facilitating simulations and modelling of molecular interactions to design new materials with enhanced properties that can lead to breakthroughs in fields like healthcare, energy storage, electronics, aerospace, and environmental sustainability.
Quantum computing can help analyze massive datasets more efficiently to extract valuable insights. It can perform machine learning on encrypted data, preserving privacy while enabling data analysis. Quantum algorithms, such as Grover’s search algorithm, have the potential to revolutionize data mining and analytics by exponentially reducing processing times.
Quantum Computing can accelerate the training of complex machine learning models, such as deep neural networks, and help develop new AI algorithms that leverage quantum computers' unique capabilities.
Quantum-enhanced machine learning (QML) leverages quantum processors to accelerate AI model training, improve pattern recognition, and enable real-time decision-making. The convergence of quantum computing and AI will open doors to solutions previously considered unattainable.
Deep Neural Networks Optimization is enhanced by quantum capabilities for efficient computation on massive datasets.
Shor’s quantum algorithm can efficiently factorize large numbers, rendering traditional RSA and ECC encryption vulnerable to quantum attacks. It threatens classical encryption methods, requiring the shift towards quantum-resistant security models.
National Institute of Standards and Technology (NIST) spearheads Post-Quantum Cryptography (PQC) standardization – to solicit, evaluate, and standardize quantum-resistant public-key cryptographic algorithms. QKD offers unparalleled security, leveraging quantum mechanics to prevent eavesdropping.
It also works on Quantum Key Distribution (QKD), which uses quantum mechanics to generate symmetrical cryptographic keys to authenticate and encrypt network traffic between nodes. This provides secure communication channels immune to eavesdropping. QKD offers unparalleled security, leveraging quantum mechanics to prevent eavesdropping.
Figure 2: Impact of AI on Quantum Key Distribution (source: marketsandmarkets.com)
Quantum computing-led advancements across engineering disciplines will open new avenues for industry advancements. As quantum computing technology matures and becomes more accessible, there’ll be broader adoption across industries, with finance, healthcare, cybersecurity, and logistics being the early adopters, accelerating the adoption across other sectors as businesses begin to see tangible benefits from QC.
Figure 3: Disruptive applications across major sectors (Source: Kearny analysis)
Quantum computing can help develop new financial models by simulating complex economic systems and optimizing investment portfolios. Quantum algorithms can augment investment portfolio optimization through real-time risk assessments across diverse financial markets.
It can improve risk assessment and fraud detection by analyzing complex financial data and pattern recognition models, paving the way for effective risk management.
Quantum computing can improve risk assessment models by analyzing complex data patterns and more accurately identifying fraudulent claims. It will also allow insurance companies to model new insurance products, considering emerging factors and constraints.
Quantum computing will streamline supply chain and logistics with efficient quantum algorithms, enabling route optimization, reducing costs, and minimizing environmental impact. Advanced AI/ML will accelerate predictive maintenance, minimizing downtime and maintenance overheads.
Quantum computing-aided advancements in material science will accelerate drug discovery by simulating molecular interactions and predicting drug efficacy with unmatched accuracy. Its ability to analyze vast amounts of data and quantum-enhanced machine learning will allow advancements in personalized treatments by analyzing patient data.
Quantum computing holds immense potential in addressing sustainability and environmental challenges. It can help with complex predictive climate modelling, allowing for better predictions and mitigation strategies for climate change, such as weather patterns, ocean currents, and atmospheric changes. It can also discover new material sciences for sustainability.
There is increasing collaboration between industry, academia, and research institutions to drive quantum innovation. IT services companies will play a crucial role in helping organizations leverage the power of quantum computing. To stay ahead of advancements, IT service companies need to collaborate with quantum hardware and software providers.
They can contribute to developing quantum-safe security frameworks for future-proof cybersecurity infrastructure. Such collaboration will lead to developing a robust quantum ecosystem and provide quantum consulting to help organizations identify and implement quantum computing solutions in existing workflows.
A quantum-ready workforce will need to acquire new skills in quantum computing, including algorithm development, quantum programming languages, and quantum hardware integration.
Quantum computing represents a paradigm shift with far-reaching implications across industries. Its unprecedented computational power poses challenges around the unknown realm of computation, way beyond what can be comprehended and controlled. While challenges remain, the accelerating pace of advancements signals a future where quantum technologies could fundamentally alter how we process information and secure digital communication.
Organizations must begin planning for quantum integration to unlock new frontiers of innovation and maintain their competitive edge. IT leaders should:
The quantum revolution is unfolding—will your business be ready?