THE AGE OF QUANTUM COMPUTING
The era of technology has changed deliberately over past decades. Coming of new technologies, many sectors has evolved with time. Among them business also, embraces the dynamic phenomenon of new world technologies. Companies stands on the foundation of the data resources they possessed. And the study of this data helped them to make Business decision to sustain in this modern competitive environment. Now the question comes, what is Quantum Computing? What role does it plays? How it is affecting?
Quantum Computing has become one of the leading applications of quantum physics. It has the potential to solve some of the world’s most complex problems and giving solution.
How does it work? As we know classical computer uses bits and bytes to operates and each bit represent either 0 or 1. These 0 and 1 together acts as on and off switches that ultimately translate into to complete a program or command given by the user. As the classical computer have bits Quantum Computers have Qubits. Qubits make uses of two key principal of quantum physics to work upon: -
a) Superposition: - Means each Qubit can represent a 0 and 1 or both at the same time like a 3D phenomenon.
b) Entanglement: - Occurs when 2 Qubits in a superposition are correlated with one another. It means that state of one 0 or 1 depends on the state of another.
Lets, take an example that modern classical supercomputers and AI is different from Quantum computers. A simple calculation like solving a maze, classical computers would test each possible route one at a time to find the correct one. It disperses one command at a time and if it fails to find the way out (in maze) then the others are executed one by one. While a Quantum computer uses its entangled quantum state to find the correct route at an one goes i.e. it disperses command all at a one time hence with fewer calculation it is able to give faster result.
The technology used in AI, Machine learning in classic computing system can find patters and insights in an existing data. Quantum computing will not only find patterns but also deliver solutions where patterns cannot be seen/find because of fewer data.
Quantum computing is under huge development by IBM, Google, Amazon, Microsoft etc. So, far it projected that it has a profound impact on the business areas like, Cryptography, Data Analysis, Travel and Communication, Budgeting, Forecasting, Risk Management, Supply Chain Management.
In Agriculture and Agribusiness Quantum computing can revolutionized the industry. They can help in Supply Chain and Logistics by find the optimal and cost-effective routes across global system to make more cost efficiency. The technology can also help in to minimize the risk assessment is by the forecasting the production, productivity of the agriculture produces. The same mode of work is done by classical computer though but however they are used for processing the data but with Quantum Computing it will ease our work by providing with numerous solution all at a time.
They can also help the Financial Institution services industry to make better investment by financing new ways to model financial data and minimize the risk by finding the possible outcome (like in stock market).
Google announced in 2019 that its quantum computer had solved such a calculation in just 200 seconds. The problem is of more like mathematical basis, but it has a long way to go especially in business world. With the rising in the technology its not very far that Quantum Computing will be fully applicated in today’s business model and it will play an important role in changing the use of technology we see today.
