Still 5 to 10 years away? Quantum computing was 5 to 10 years away 4 years ago. It will get here, eventually. It may just get very cold before then. Recommend listening to the interview from the source. Link is below. Because Quantum is Coming. Qubit
Expert: Now is the time to prepare for the quantum computing revolution
+ There are two types of quantum-computing algorithms if you will. There are those that will require what we call a fault-tolerant computing system, one that doesn’t have error, for all intents and purposes, that’s corrected for error, which is the way most classical computers are now. They don’t make errors in their calculations, or at least we hope they don’t, not at any significant rate. And eventually we’ll have these fault-tolerant quantum computers. People are working on it. We’ve proven that it can happen already, so that is down the line. But it’s in the five- to 10-year range that it’s going to take until we have that hardware available. But that’s where a lot of the promises for these exponentially faster algorithms. So, these are the algorithms that will use these fault-tolerant computers to basically look at all the options available in a combinatorial matrix.
Though quantum computing is likely five to 10 years away, waiting until it happens will put your organization behind. Don’t play catch-up later.
+ But we know that neural networks work this way, deep neural networks. AI, in its current state, uses this type of algorithm, these heuristics. Most of what we do in computation nowadays and finance is heuristic in its nature and statistical in its nature, and it works good enough to do some really good work. In algorithmic trading, in risk analysis, this is what we use today. And these quantum versions of that will also be able to give us some advantage and maybe an advantage over—we’ve been able to show in recent work—the purely classical version of that. So, we’ll have some quantum-augmented AI, quantum-augmented [machine learning] ML. We call it a quantum-enhanced ML or quantum-enhanced optimization that we’ll be able to do.
+ So, thinking that, “OK, this is a 10 year time horizon for those fault-tolerant computers. Our organization is just going to wait.” Well, if you do, you get a couple of things. You’re not going to have the workforce in place to be able to take advantage of this. You’re probably not going to have the infrastructure in place to be able to take advantage of this. And meanwhile, all of your competitors and their vendors have acquired a portfolio of patents on these methodologies that are good for 20 years. So, if you wait five years from now and there’s a patent four years down the line, that’s good for 24 years. So there really is, I think, an incentive for organizations to really start working, even in this NISQ, this noisier regime that we’re in today.
Content may have been edited for style and clarity. The “+” to the left of paragraphs or other statements indicates quoted material from “Source:” document. Boldface title is original title from “Source:” Italicized statements are directly quoted from “Source:” document. Image sources are indicated as applicable.