What is quantum computing?
Quantum computing is an emerging technology that leverages the laws of quantum mechanics to solve problems that are too complex for conventional computers. These machines are very different from the classic computers that have been around for over half a century.
Scientists and engineers turn to supercomputers when faced with difficult problems. These are often very large classic computers with thousands of classic CPU and GPU cores. But even supercomputers have trouble solving certain kinds of problems. If supercomputers run into trouble, it's probably because their big classical machines are being asked to solve highly complex problems. When classical computers fail, it's often because of their complexity. Complex problems are problems with many variables that interact in complex ways.
Quantum algorithms take a novel approach to complex problems of this kind and solve them by creating multidimensional spaces in which patterns appear connecting individual data points.
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In addition to the benefits of technological innovation, quantum computers pose significant risks to the digital economy and national security. In the case of the advent of computational speed and sophisticated "Cryptanalytically Relevant Quantum Computer (CRQC)", decryption can be possible in many places where public key cryptography used in the current digital infrastructure is used. Direct risks may increase not only in the private sector, but also in communications, major infrastructure and control systems, financial transactions, Internet communications, and authentication in the government and military sectors. The threat of cryptographic data decryption caused by such high-performance quantum computers is called quantum threat or quantum vulnerability. Although it is difficult to accurately predict the timing of the appearance of high-performance quantum computers, the quantum threat still exists because hackers can collect data encrypted with the current public key and decrypt the data when CRQC is released later.
At the Davos World Economic Forum (WEF) 2023, IBM Chairman and CEO Arvind Krishna Speaking on the topic of quantum computing, Krishna said that IBM’s latest quantum processor is today operating at over 400 qubits.
Citing a paper from China, Krishna said that quantum computers at over 400 qubits could reportedly break today’s encryptions. he went on to estimate that the capability of breaking today’s encryptions to be possible in the range of 400-1000 qubits.
Experts surveyed by the Global Risk Institute predicted that something related to quantum computing will compromise security between 2027 –2033.
In 2020, Sundar Pichai, the CEO of Alphabet, Google’s parent company, predicted “In a 5-10-year time frame, quantum computing will break encryption as we know it today."
McKinsey and Co. predicts that there will be 2,000-5,000 operational quantum computers by 2030.About 2,000 to 5,000 quantum computers are expected to lead technological innovation in actual industrial sites by 2030, and are expected to be used in various fields such as finance, energy, pharmaceuticals, and chemistry.
According to numbers quoted in a WEF report, public investments in quantum technologies exceeded USD 30 billion by 2022. Private investments for quantum technologies added USD 3.2 billion in 2021 alone and over USD 5.5 billion in the past decade.