Next Level Of Quantum Computing That Could Change Universe
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Quantum means the smallest discrete unit of any physical property. Quantum mechanics refers to the branch of physics which is related to that smallest discrete unit.
Quantum Mechanics concludes to some strangest possibilities of a physical matter in the world. What we often see is physics, however truth beyond the normal existence of an object is quantum mechanics. As per the IBM Fellow and vice president of IBM Quantum, Dr. Jay Gambetta,
Quantum computing is a new kind of computing, using the same physical rules that atoms follow in order to manipulate information.
At the recent times, quantum computing and artificial intelligence has revolutionized technology allowing modifications to an unprecedented level.Stated by IBM Research on Driving quantum performance,
As quantum computing evolves and begins to tackle practical problems, we must pay greater attention to how much work quantum computing systems can do in a given unit of time.
Milestones of Quantum Computing
Quantum Cryptography
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Data encryption or cryptography is an essential feature of security around the world. Converting a simple text into an encrypted one through hashing, ensures protection of data from unwanted access.
Post-quantum cryptography on one hand emphasizes on creating cryptographic algorithms which would be difficult for normal computers to unlock. However, such calculaions can be done within seconds with the use of a quantum computer thereby compromising the security.
One major inherent flaw of Public Key Encryption (PKE), used in classical encryptions, is that the key remains within the dataset while it is transmitted betweens servers.
Unlike mathematical encryption, quantum cryptography uses the principles of quantum mechanics to encrypt data and making it virtually unhackable.
Quantum Cryptography enables encryption which poses a tough challenge even for quantum computers to break.
The data is ensured to travel without any interception through a series of polarized photons over a fiber optic cable. In case of any interception noticed, the quantum state of photons changes which leads to a change in the quantum key as well.
A quantum safe key exchange has the potential to restructure long term data resilience, contributing to the financial, healthcare or other institutions.
Quantum Computing and AI
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Quantum computing has the speed of solving complexities of data within seconds which would rather take years, for a normal computing device in today's world. The effective mix of quantum computing and AI would enable extreme processing power to model the complex situations in machine learning and AI.
At current requirements to process around 2.5 exabytes of daily data, quantum computing has the potential to manage such into uncovering patterns much faster. Dr. Itamar Sivan, who is the CEO and co-founder of Quantum Machines, has stated more preciously on how a quantum potential can enhance AI and machine learning abilities.
Roughly speaking, AI and ML are good ways to ask a computer to provide an answer to a problem based on some past experience. It might be challenging to tell a computer what a cat is, for instance. Still, if you show a neural network enough images of cats and tell it they are cats, then the computer will be able to correctly identify other cats that it did not see before.
Quantum Computing in Financial Services
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Financial services are one the most demanding sectors in the world with the largest reserve of data and security.
Financial market movements analyzes the entire economy of a country, in feed with speculations and predictions. With enhanced forecasting through quantum powered AI and machine learning, large unstructured datasets can be utilized in predicting market trends, more accurately.
Risk profiling is one of most vital components of financial analysis as various investment products are required to have a portfolio based on goals and risk taking abilities of investors. Based on such, a portfolio of a partcular investment product can be determined enabling a better risk-reward ratio.
A report has found that impact of quantum computing and sales of such for the financial services industry would total $450M by 2026.
