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Quantum computing is a rapidly advancing field of computer science that promises to deliver unparalleled computational power. If fully realised, this new breed of devices will be able to tackle problems that are beyond the capabilities of classical computers, creating opportunities within the technology sector, as well as use cases that could fundamentally transform a wide range of industries – such as finance, pharmaceuticals, and artificial intelligence.

Michelle Simmons, Founder and CEO, Silicon Quantum Computing, shared her expertise during a panel at the �۶���Ƶ Asian Investment Conference:

A lot of people, when they hear ‘quantum computing’ think that it is something that is years away. But quantum is here today. It’s just a different way of encoding information that is truly transformative.

The field of quantum computing has hit several important milestones in recent years. Most recently in December 2024, Alphabet’s Willow quantum processor solved a complex mathematical problem in just five minutes – a task that would have taken the fastest classical computers ten septillion years, which is longer than the lifespan of the universe¹.

Quantum computing marks a fundamental transformation in how computers operate. Classical computers encode information exclusively in terms of ones and zeroes. Quantum computers, by contrast, exploit the properties of tiny phenomena at the atomic level to contain information in quantum states, thus breaking out of the binary paradigm that constrains other computers. The result is an exponential increase in computing power.

In contrast to a bit, which is the most basic unit of information in classical computing, quantum computers use qubits. While traditional bits offer near-perfect reliability, qubits are inherently unstable and have short coherence times and high error rates. Developing effective error correction will be essential for continued development of quantum computers.

Although it is still early days, the commercial potential for quantum computing is immense. The current addressable market is just USD1.8 billion. Fast forward to 2030 and it could grow into a USD20 billion industry, with a potential market capitalisation of between USD300 billion and USD400 billion² .

Randy Abrams, Head of Taiwan Research, �۶���Ƶ shared:

You could see potential for disruption because quantum has the capability to solve more complex, challenging problems and also do a certain level of compute in parallel.

There is a wide range of potential use cases for quantum computing. For example, telecommunication networks can be hit by costly service disruptions. Quantum computers can be used to assess large amounts of data to successfully forecast outages, which if avoided, can save tens of millions of US dollars.

Another area that stands to benefit is material science. Quantum computers are better than traditional supercomputers at modelling materials at the sub-atomic level to come up with corrosion-resistant materials. This is important because corrosion causes around USD2.5 trillion worth of damage per year, equivalent to around 3% of global GDP³.

AI could be another beneficiary, as quantum computers are able to process massive datasets, which would enable models to learn from larger collections of data, while at the same time improving inferential capabilities.

And when it comes to finance, quantum computing will be able to better forecast outcomes in complex probabilistic systems – especially so-called “Monte Carlo” simulations. Classical computers are able to make these predictions, but by conducting a far larger number of simulations than required by the quantum equivalent.

There are two broad approaches to building a quantum computer: focusing on the quality of qubits to reduce error correction or creating more lower quality qubits, but with more error correction.

For Simmons, the best approach is to aim for quality over quantity by making qubits that can retain their quantum state for a long time. This is achieved by precision manufacturing on an extraordinarily small scale. Her team fabricates chips at atomic – 0.13 nanometer – precision, a feature size 20 times smaller than what has been achieved at leading semiconductor foundries.

“That precision has allowed us to get the highest fidelity and the highest accuracy of quantum algorithms that exists,” she said.

The next step is to manufacture at scale. Silicon Quantum Computing has developed a method to build quantum computing chips on a one-week time cycle, thus creating at a pace and price that is amenable to end users. Quantum computing will likely operate according to a hybrid model that will combine CPUs, QPUs, and GPUs.

Abrams shared his excitement for the future of quantum computing:

The future development of quantum computing will be one of the most interesting technology trends going forward, as it promises to augment semiconductor supply chains and push artificial intelligence to the next level.

¹�۶���Ƶ, Intelligence Weekly No.17 Know your Quantum Computing
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