Decoding & Demystifying The Quantum World
It is widely acknowledged that the modern world is inundated with vast amounts of data. This data has taken on the role of 'fuel', and the knowledge and insights gained from it serve as the 'electricity' that brightens our lives and allows us to function effectively. To establish a connection between this fuel and electricity, it is critical to push computing to its limits in order to address the world's complex issues. Quantum Mechanics has the potential to revolutionise the software industry and make this a reality.
Quantum computing is expected to achieve a 'quantum advantage' in the near future, where it will be able to solve real-world problems more efficiently than the most powerful supercomputers
Understanding the Nuances of the Quantum World
The behaviour of particles, atoms, and molecules, including photons, electrons, and whole atoms, is governed by the principles of quantum mechanics. These principles seek to use the properties of things at the atomic level to produce effects in the macroscopic world. It's worth noting that quantum technologies rely on a range of engineering applications that utilize different quantum principles, such as superposition (quantum computing), entanglement (networking and quantum key distribution), illumination (quantum radar) key encryption.
The concept of quantum computing may appear futuristic, but it is no longer a distant reality. It is a modern technology that is gaining popularity due to the computational power and speed it provides to computers. Quantum physics and its principles have existed since the 1920s, but advances in hardware and digital technology have made quantum computing feasible in today's world. The adoption of Quantum Annealing, which allows for real time, super-optimized solutions to problems with many potential solutions, and a significant push towards quantum computers have both made this possible.
Quantum Computing has the ability to quickly decrypt complex data, making it useful for solving optimization problems. Many industries, including healthcare, finance, security, aerospace, agritech, telecom, travel, and logistics, are benefitting from this technology. For example, in banking and finance, it can be used for portfolio optimisation, risk analysis, and fraud detection. More industries, such as manufacturing, banking, and defence, are expected to adopt and use quantum technology on a larger scale in the future.
Quantum Computing & India’s Bright Future
The hype surrounding quantum computing is not unfounded. Rather, it is being spread by the potential for the solution to be used in various industries and its use cases. These include improving software security, examining large molecules, assisting in drug research and development, enhancing machine learning processes, running data simulations for forecasting trends such as weather and chemical simulations, and even improving ethical hacking techniques. The global quantum computing market is expected to grow significantly due to its ability to offer enhanced optimisation and carry out vital calculations, with India in a unique position to benefit from this technology to solve challenges such as income inequality, road safety, air pollution, and groundwater depletion. As a major player in the IT services industry, India can use quantum computing and other technologies to address these social, economic, and technological challenges.
Quantum Opportunities Ahead
Quantum computing is expected to achieve a 'quantum advantage' in the near future, where it will be able to solve real-world problems more efficiently than the most powerful supercomputers. According to industry estimates, this advancement represents a significant market opportunity of $300 billion to $800 billion by 2040. However, market growth may be hampered due to a lack of awareness about quantum computing and a shortage of skilled employees. To address this issue, it is necessary to develop a local workforce with the necessary skills to meet industry demand.
This decade is known as the 'Quantum decade', and it is marked by significant changes in computing. It is an excellent time to collaborate and research use cases in areas such as language understanding and crop rotation. The Indian government has identified this opportunity as a 'mission of national importance', and initiatives from both the government and organisations will create various opportunities for market growth.