Recently a breakthrough was made in the field of quantum computing with the development of a silicon chip that is capable of processing vast amounts of data and information in a matter of milliseconds. This new computing breakthrough is particularly interesting as early indications are that it could be impenetrable to attacks from cyber criminals and hackers. Although this innovative technology is in the very early stages of development, many data and analytics professionals are already taking note of it and looking towards the dawn of the quantum computing age.
What is Quantum Computing?
Subatomic particles have an ability to exist in multiple states at any one time. Due to this unique state and the way these miniscule particles act they can perform calculations much more quickly than normal computers. They also don’t expend as much energy.
In mainstream computing a single particle of information (usually called a bit) exists in binary as 0 or 1. The difference is that “quantum bits” or “qbits” are used in quantum computing. These “qbits” can store massive amounts of information, far more than just 0 or 1.
Alexey Fedoroy, a physicist at the Moscow Institute of Physics and Technology, explains quantum computing as being somewhat like an “imaginary sphere”. A “qbit” can appear at any point on a sphere, whereas a normal bit can appear in two states and sit at either ends of the sphere.
The Benefits of Quantum Computing
For processing very large amounts of data quickly, quantum computing is far superior to today’s normal computing methods. Early indications are that they will be resistant to hacking, as quantum technology is still being developed that will resist any hacking attempts. Therefore, any data stored on quantum computers will be much more secure. In today’s data security centric world, this is a huge advantage.
Another area where quantum computing will help in terms of overseeing breakthroughs is in the pharmaceutical and healthcare industries. It will provide many benefits including examining how certain proteins, chemicals and molecules work together in a fraction of the time it takes today, as well as allowing gene sequencing which would cut down the time taken for some clinical trials considerably.
What Will Quantum Computing Mean for CDOs and CAOs?
Although it isn’t likely that quantum computing will become mainstream for another few years, it is a new and emerging technology that many CDOs and CAOs are looking at closely. With the amount of data collected by organizations growing on an almost daily basis computers will need to be powerful enough to keep up with the analysis of that data to provide meaningful results that drives key business decisions. If CDOs and CAOs aren’t already looking at quantum computing as part of their future strategic and growth plans, they definitely should be.
Artificial intelligence and machine learning may also see huge growth because of the development of quantum computing. Since it can analyze and process vast amounts of data very quickly, this processed data can then be used to provide artificial intelligence machines with the knowledge required to improve them.
If organizations don’t already have quantum computing on their radar in terms of developing their technologies and staying ahead, now is a great time to start thinking about it and the impact that quantum computing will have, especially for data collection, analytics and data security. It is likely that quantum computing may for example find a cure for cancer, find planets far beyond our solar system that are capable of supporting life or even have the power to completely overhaul the aviation industry by unravelling intricate airline schedules in seconds. With quantum computing, the possibilities may be endless
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