Earlier this year IBM updated its offerings in quantum computing and added new managed quantum systems for select international clients.
And the continual progress that IBM is making shows that quantum computing is here to stay and has an interesting future for solving complex computing problems. We also expect an update to IBM’s quantum computing roadmap at IBM Think this week.
Quantum computing isn’t perfect for every problem. It’s best used in complex problems such as simulating chemical systems or some machine learning applications. Currently, these types of problems are typically solved using supercomputers. But these problems become exponentially more difficult to compute as the number of variables increases. A quantum computer’s ability to use quantum mechanics to solve these problems in a completely new way can change these exponentially large problems to problems that scale linearly in the number of variables. The problems include areas where researchers are attempting to simulate quantum chemistry , material sciences, and high-energy physics. For business operations, quantum computing can help with portfolio optimizations, risk analysis, and Monte Carlo simulations. There’s also overlap with AI in areas such as model training, pattern recognition, and fraud detection. The results of quantum calculation isn’t a pure binary “yes-no” answer, but a probabilistic distribution output. To help get the most out the quantum computers with error mitigation and faster execution times, IBM is now offering Qiskit Runtime fundamental building block primitives to sample from or to estimate quantities based on this distribution output. In April, 2022, IBM gave an updated status on its quantum computing program. IBM has over 20 operational systems accessed by over 410,000 users that perform over 3.5B executions daily. The IBM Quantum Network of partners has over 180 members, including over twenty hubs , over ten industry joint development partners, over forty startups, and over thirty academic researchers. IBM is also building regional centers such as Fraunhofer and the University of Tokyo which are in operation today. More regional sites are coming online in 2023, including the Cleveland Clinic , Yonsei University , and Quebec . There have been over 800 publications in over 45 applications areas form groups using the IBM Quantum Network partners. Big name IBM partners include: Fraunhofer, Samsung, Boing, Dell, Goldman Sachs, BP, ExxonMobil, Deloitte, and Oak Ridge National Labs.The benefit of solving these problems extends beyond just the scientific value to actual creation of market opportunities. A market analysis by Boston Consulting Group puts the added market value creation at over $3B in 2024 and continuing to grow from there. We’ve only begun to tap the potential of quantum computing.
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