But Canadian grocery chain Save-On-Foods has become an unlikely pioneer, using quantum technology to improve the management of in-store logistics. You may unsubscribe at any time. Companies that are currently working on quantum solutions are focusing on what Uttley calls the "path to value creation". Quantum computers, by accounting for exponentially high numbers of factors and variables, could generate much better predictions of financial risk and uncertainty, and boost the efficiency of key operations such as investment portfolio optimisation or options pricing. This could have huge implications for the agricultural sector, as it faces the colossal task of sustainably feeding the growing global population in years to come. Herhold anticipates that quantum hardware will grow at a fast pace in the next five years. "Multiple companies are conducting learning experiments to help quantum computing move from the experimentation phase to commercial use at scale," Ivan Ostojic, partner at consultant McKinsey, tells ZDNet. But contrary to bits, which can be represented by either 0 or 1, qubits can take on a state that is quantum-specific, in which they exist as 0 and 1 in parallel, or superposition. © 2020 ZDNET, A RED VENTURES COMPANY. Qubits, with their unprecedented ability to solve optimisation problems, will benefit any organisation with a supply chain and distribution route, while shaking up the finance industry by maximising gains from portfolios. ZDNet explores what quantum computers will and won't be able to do, and the challenges we still face. This is what's at stake for business leaders who are already playing around with quantum, explains Riel. Zapata, QC Ware or 1QBit, for example, provide tools ranging from software stacks to training, to help business leaders get started with quantum experiments. Source: McKinsey & Company, "A game plan for quantum computing". Similar to other fields, most of the research is dedicated to exploring proof-of-concepts for the financial industry. Organizations must be aware of these threats and stay up to date on cybersecurity protocols, according to the report. By banning government use of facial recognition technology, How smart tech is transforming the transportation industry, Technology that changed us: The 1970s, from Pong to Apollo, These smart plugs are the secret to a seamless smart home, The 10 most important iPhone apps of all time. While some big tech companies have attempted to self-regulate with AI solutions that focus on ethics, many people questioning if self-regulation will be enough, according to the report. Many AI programs in businesses could work much quicker if supported by quantum computers, and some organizations have already begun that. Here are five expert tips to kickstart the process. Major technology companies that you may have heard of that have active quantum computing groups include Microsoft (topological quantum computing) IBM (superconducting qubits, theory) ALL RIGHTS RESERVED. By registering, you agree to the Terms of Use and acknowledge the data practices outlined in the Privacy Policy. It is hard to tell exactly when that boost will come. Within two months, the concept had translated into a hybrid quantum algorithm that was running in one of the supermarket stores, reducing the computing time for some tasks from 25 hours per week down to mere seconds. You will also receive a complimentary subscription to the ZDNet's Tech Update Today and ZDNet Announcement newsletters. Quantum computing holds the promise that the hammer might, in the next few years, evolve into a drill and then a tower crane. A quantum annealing processor is much easier to control and operate than the devices that IBM, Honeywell and Rigetti are working on, which are called gate-model quantum computers.

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