Reply’s Study Shows Enormous Potential for Quantum Computing as It Leaps to Market Maturity
Reply’s study, conducted with the trend platform SONAR, shows the level of maturity of quantum computing. The objective of the study was to verify how much computing power, enabled by the use of quantum computers, exists in a commercial environment today.
Quantum computers are able to reduce computing processes, from years to hours or minutes, and solve problems where even the most advanced conventional computers reach their limits. Quantum computing promises enormous progress, especially in the areas of machine learning, artificial intelligence and big data.
The articles analysed by the SONAR trend platform, as well as the increase in patent applications in this area, highlight how the disruptive solutions powered by quantum computing have opened the way for the development of business in different areas: from computer science to cybersecurity and financial services to logistics.
The trend towards quantum computers has been steadily increasing in computer science since 2013. Morgan Stanley analysts predict that the high-end quantum computer market will almost double by 2025, reaching ten billion dollars a year. The development of quantum computers has experienced a strong upswing, especially since technology giants invested in and committed to the technology. In particular, announcements and market launches by IBM have been reported positively in the media.
The potential of quantum computers far exceed the current performance and consequently open a new era of knowledge. Whilst this is an exciting prospect, quantum computing could also pose a major threat to cybersecurity. This means that the protection of commercial transactions and data transmissions must, in some cases, be completely redesigned. Quantum cybersecurity meets this challenge with sophisticated measures such as quantum key distribution, quantum-safe algorithms and so-called quantum random number generators. No government or company can avoid the development of "quantum-safe" solutions. China is at the forefront of this race with initiatives such as the quantum-enabled Micius satellite and the establishment of a national network infrastructure.
Many financial service providers acknowledge the potential of quantum computing with its ability to enable new application options, from portfolio optimisation to fraud detection and new payment systems to high-frequency trading. Investment has increased steadily in recent years: Industry giants such as Goldman Sachs, RBS and Citigroup are already committing to quantum computing and hiring talent to stay one step ahead of the competition.
Logistics and transport
Similarly, some in the logistics and transport sector are already taking advantage of quantum computing. This is demonstrated in the announcement by Daimler and Honda at the beginning of 2018 expressing their intent to acquire IBM quantum computers, as well as the growth in research investment by many aerospace companies into the role of quantum computing. Volkswagen most recently announced the use of quantum computing in traffic management in January 2019.
Filippo Rizzante, CTO at Reply, comments on the new trend report: "We will see many innovations in information technology that are inspired by quantum computers. The race has begun for companies to develop quantum computing algorithms to solve problems that were previously considered insurmountable. Quantum computing puts an end to current encryption approaches and will lead to an unprecedented rise in artificial intelligence".
To read the full study, please click here.
Reply [MTA, STAR: REY] specialises in the design and implementation of solutions based on new communication channels and digital media. As a network of highly specialised companies, Reply defines and develops business models enabled by the new models of big data, cloud computing, digital media and the internet of things. Reply delivers consulting, system integration and digital services to organisations across the telecom and media; industry and services; banking and insurance; and public sectors. www.reply.com
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