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How Does Quantum Computing Businesses?

By CIOReview | Monday, July 6, 2020

Quantum computing has remained a theory for decades, but it was only recently that a quantum computer was successfully built.

Fremont, CA: Although quantum computing sounds like science fiction, it is not far from being available to the mainstream, which will affect businesses. Quantum computers computing is much, much faster than traditional computing. It also allows for much more complex calculations that conventional computers cannot perform. The fact that quantum computing is becoming a reality means that many companies keep a close eye on developments. As it is a well-established fact that access to quantum computing would considerably improve the effectiveness and efficiency of their business practices.

While companies in specific industries will benefit from quantum computing for several particular reasons, quantum computing can help businesses as a whole in various ways.

Cryptography

Cryptography is one of the most significant advancements made in quantum computing. The traditional computers cannot be used to break encryption using large prime number factorization, whereas, with quantum computers, decryption will be incredibly simple. This means that it will be easier for businesses to protect their digital assets.

Data Analytics

Data analytics will significantly improve because quantum computing allows calculations to be made simultaneously. Businesses will be able to solve problems on an enormous scale. It’s why giants like NASA are currently looking into quantum computing to analyze the mind-boggling amounts of data they’ve collected about the known universe. They can even use quantum computing to research more effective and safer ways to travel through space.

Forecasting

Large, complex data sets are required to forecast various scenarios. For instance, predicting the weather requires a lot of data, but it’s limited due to how much data a traditional computer can handle. When too many factors are involved, it will take too long to run the simulation -- to the point that by the time the simulation is done running, the targeted weather pattern has already come and gone. Quantum computing will be able to immensely speed up the process, using countless factors to forecast different scenarios better.

Pattern Matching

Finding patterns in the data collected can help predict future trends, allowing them to make more effective business decisions. Quantum computing could help to identify intricate patterns in large sets of data. Companies like Volkswagen are currently exploring how quantum computing can help identify trends.

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