EarlyBirds Stresses Importance of Quantum Computing for Businesses
EarlyBirds, the company that runs a unique business to business (B2B) open ecosystem that allows innovators, early adopters, and subject matter experts (SMEs) to get together, wants to stress the importance of quantum computing for innovative businesses and how they can be of help. While quantum computing is still mostly theoretical at this point in time instead of a ready-to-implement engineering solution, there is much belief in its potential that the National Quantum Initiative Act 2018 was passed by the United States of America Congress to establish a central coordination and research body to help in quantum information science research, training, standards and facilitate joint ventures. Meanwhile, top tech companies such as IBM, Alphabet, Intel, Google, Amazon and Microsoft, are spearheading research and development on quantum computing.
Quantum computing requires a quantum computing processor, which may be an actual physical device or simulated, through a cloud, and this enables the opening of the market to new participants, which is expected to encourage more developments across the quantum computing ecosystem. So far, the leading technology companies have made breakthroughs with regards to quantum processor technology and error correction that are expected to become the foundation for a quantum computing ecosystem. Quantum computing is expected to play a key role and drastically speed up progress in several areas, including cryptography, data analytics, aviation, pattern matching, forecasting, self-driving cars, and medical research.
Quantum computing is a drastic leap from current computing technology. While conventional computers use bits, which can either be 1 or 0, quantum computers use quantum bits or qubits. This allows the representation of information as vectors. Several dimensions of processing can occur in a qubit, and as more qubits are used, they can be interlinked such that the computing power grows exponentially. This is why it can undertake cryptography much faster and impossible with conventional computing technology.
Meanwhile, IBM has made several case studies on how quantum computing can be applied to aviation. In one case study, they investigated how quantum computing can be used in managing disruptions in the operations of airlines, known as irregular operations (IROPS). There were several limitations encountered when using conventional computing technology in developing solutions for recovering from IROPS. With quantum computing, airlines would be able to enhance the speed and accuracy of scenario simulations and the effects of potential solutions on the passengers and future flights. This is because quantum computing algorithms have been found to be effective in picking the best scenarios in Monte Carlo simulations to model the probability of different outcomes in process involving random variables. Some of the applications for quantum computing include finance, engineering, supply chain, and science.
Another case study involved the optimisation of network planning globally for airlines for various factors, such as flight planning, crew scheduling, fleet allocation, and more. Quantum optimisation algorithms are expected to enable the efficient exploration of various possible solutions of such a gigantic problem with complex business objectives and constraints.
With regards to data analytics, quantum computing is expected to be capable of analysing huge amounts of data. NASA is expected to take advantage this technology to analysis its collection data about the universe.
Quantum computing will also have a significant impact on forecasting involving several scenarios with big and complex data sets, such as in weather forecasting. Discovering patterns in complex systems, such as traffic, will also be an important application of quantum computing. Meanwhile, Volkswagen and Google have been using quantum computers to help develop technology for self-driving cars. Finally, it can also help with medical research, such as in new drug development, which currently takes about 10 years or more and billions of dollars. With quantum computing, the time and expenses involved with complex research could be drastically reduced.
The EarlyBirds open innovation ecosystem is expected to play a role in the development of business applications of quantum computing. This is because it offers a B2B marketplace where businesses can find innovators or developers of disruptive technologies. Plus, SMEs are participating as consultants to help businesses and innovators work together for the benefit of all participants.
Those who would like to learn more about the EarlyBirds open ecosystem and how it can help businesses can visit their website or contact them through telephone or by email.
For more information about EarlyBirds, contact the company here:
Mr Kris Poria and Mr Jeff Penrose
+61 401 287 060