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Google achieves Quantum Supremacy? What it means for you...

As you may have heard - yesterday we learned that Google is capable of building machines that are millions of times more superior to today’s classical computers for certain tasks.

Max Artemenko, BCI Summit
September 21st 2019 | 2611 readers

Max Artemenko, Founder of BCI Summit
Max Artemenko, Founder of BCI Summit
The story comes from publishing found on NASA's site which was then removed after a few hours.

But why are global governments are pouring billions of dollars into quantum ?
What does this mean for us?

For the common individual life will not change for many years to come. For banks, pharma, energy and IT departments - it’s a completely different story.
The fear:

One of the biggest threats of quantum is its ability to crack encryption. NIST has long declared that the standard RSA encryption is “No longer safe” and has been working diligently with its community to establish a standard for encryption that would be resistant to quantum, aka post-quantum cryptography.
Is Google now supreme?

Not as we know it, at least not yet. The term in fact is quite misleading and frowned upon in the industry but has gained much hype with the media. Theoretically, an organization (or country) which has the ability to decrypt messages, create more efficient fuel sources and master mind portfolios - could be reigned supreme. But such power has not yet been achieved, at least as far as we know. 
Why this matters?

Quantum computing theories have been around for many years, yet skeptics remain and some still doubt its capabilities. This (still unverified) development by Google proves that such monumental gains are indeed possible and around the corner.
Why banks and funds?

Portfolio optimization is one of the most difficult (and profitable) sectors to benefit from advancements in quantum. Having a system that outperforms the other guy has been a cut-throat game for centuries and this is no different. Big hedge funds have been exploring quantum computing for years, reported FT in 2017.

Why pharma?

Big pharma spends billions of dollars on research. Even with today’s massive server farms, the ability to solve large computational problems is still quite limited. Quantum will allow “us to solve optimisation problems, for instance in protein folding. In biomedical image analysis, quantum computers could help detect topological changes that are caused by the disease” write Roche.
Why Energy?

Billions of dollars have been poured into making batteries more efficient yet very limited progress has been made in the past few years. New technologies, such as Li-air, could soon be implemented to produce far more effective solutions to our battery-dependant lives. 

Interested in learning more, speaking to quantum physicists, VCs, CVCs and banks that are actively preparing for the quantum growth? 

Join us this November in NY at BCI Summit Quantum for a deep dive into use cases, implementations and future expectations. Learn how many top tier banks are now building out teams and resources to prepare for quantum. Engage with executives and explore how your organization can properly prepare with leading researchers, Heads of Innovation, CTO offices and quantum leads from Fortune 100 companies at BCI Summit Quantum

About the author

For those that do not know me, I am the Founder of BCI Summit. Founded in 2017, we help bridge the gap between emerging technologies and  user acceptance. Prior to BCI I spent many years studying software engineering and developing AI/machine learning trading systems for hedge funds and banks. I have always had a passion for pushing boundaries and tech innovation. When I first came across quantum I was instantly hooked. The concept of a machine being able to process calculations millions of times faster than today’s computers, break encryptions and solve for variables that would take centuries for today’s server farms - seemed like sci-fi to me. But after speaking with dozens of VCs, quantum researchers and PhDs - I realized this is all much closer than most think.

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