Commercial applications of quantum computing

Abstract

Despite the scientific and engineering challenges facing the development of quantum computers, considerable progress is being made toward applying the technology to commercial applications. In this article, we discuss the solutions that some companies are already building using quantum hardware. Framing these as examples of combinatorics problems, we illustrate their application in four industry verticals: cybersecurity, materials and pharmaceuticals, banking and finance, and advanced manufacturing. While quantum computers are not yet available at the scale needed to solve all of these combinatorics problems, we identify three types of near-term opportunities resulting from advances in quantum computing: quantum-safe encryption, material and drug discovery, and quantum-inspired algorithms.

Portfolio Optimization with Digitized-Counterdiabatic Quantum Algorithms

“…For the Hamiltonian (3), we choose the local CD term of the form Ãλ = N i α i (t)σ y i . Here, the CD coefficient α i (t) is obtained by minimizing the action S = Tr[G 2 λ ], where…”

“…( 3), are applied alternatively to the initial state |ψ i . In DC-QAOA, CD term U D (α) = e −iα i h i σ y i is added along with U b (β) and U p (γ), where σ y is a local first-order term chosen from an operator pool A (2) λ = {σ y , σ z σ y , σ y σ z , σ x σ y , σ y σ x } which is obtained from Eq. (11).…”

“…It is believed that a quantum computer might surpass the capabilities of a classical one. Due to the experimental developments during the last years, it might become useful for commercial purposes [1,2]. This potential breakthrough has boosted proposals of several algorithms in different areas, such as differential equations, linear algebra, and optimization problems [3], which have been implemented in small quantum computers as proof of principle.…”

Development of an Undergraduate Quantum Engineering Degree

“…Understanding these dynamics, national governments all over the world are now investing heavily in developing the new workforce that will underpin the emerging quantum economy [6]- [9]. Commercial organizations are also moving quickly in the same direction [10], [11]. Until now, the majority of R&D in quantum technologies has been conducted by PhD graduates, mostly in physics or related disciplines.…”

QSOC: Quantum Service-Oriented Computing

“…Quantum computing seems to be of a specific value-add in industry verticals such as healthcare, financial services, and, supply chains [1]. For example, quantum computing may help to significantly fuel the speed -and harness effectiveness-of real-time detection of potential fraud and anomalies in astronomic amounts of financial transactions at a national or even global scale.…”