Real-Life Use Cases Demonstrate Useful Quantum is Closer Than Expected

A raft of recent real-life use case demonstrations indicates that useful quantum computing is closer than expected, industry experts have said.

This month energy company Iberdrola and Multiverse Computing said they had successfully used quantum computing to optimize the installation of grid-scale batteries, with the quantum technology outperforming classical solutions.

This is just one example of several real-life quantum applications announced by major companies in the last year. Earlier in the month, Japan's largest mobile operator NTT Docomo said, in a world first, it plans to deploy quantum annealing-based technology to reduce the load on base stations and alleviate congestion when there is a concentration of incoming calls.

Also in Japan, electronic parts manufacturer Rohm and quantum algorithm company Quanmatic said they plan to implement quantum optimization into a semiconductor production line.

At the end of last year, researchers at multinational finance company JPMorgan Chase successfully implemented a high-speed, quantum-secured crypto-agile network, connecting two data centers over existing fiber optic cable.

According to the company, the experiment successfully demonstrated using quantum key distribution to secure multiple independent, high-speed virtual private networks over a single 100 Gbps fiber.

Related:Energy Company Optimizes Electric Grid Battery Placement with Quantum

Pattison Food Group, working with D-Wave Systems, this year implemented quantum-optimized workforce scheduling. In this first phase of production rollout, it expects almost 50,000 hours in annual savings throughout 2024.

“This isn't just a small-scale experiment; it’s quantum computing solving real-world problems at an enterprise scale,” said Murray Thom, vice president of quantum business innovation at D-Wave Systems.

Fred Huet, a partner at global strategy firm Altman Solon, said he knows of examples where quantum computing had enabled some fixed-income investors to beat the market by one percentage point – a huge spread for bonds that typically gain 3-4% annually. He added that the technology “clearly has many beneficial applications across markets, sectors and disciplines.”

These real-world applications and demonstrations come as PwC, in its emerging technology survey published in December last year, ranked quantum computing seventh in the “essential eight” technologies for the first time. It noted that 29% of companies are planning to invest in it over the next d12 months.

Olivia Lanes, global lead at IBM Quantum Learning and Education said she believes the world is now truly in the era of quantum utility.

Related:Shipping Company Taps Quantum Computing to Optimize Operations

“[This is] the point at which quantum computers can serve as scientific tools to explore a new scale of problems beyond brute-force, classical simulation,” she said.

“This has opened the door for more quantum use cases and applications than ever before, as organizations across all kinds of industries see the value in applying quantum technologies to solving their toughest scientific challenges.”

She added that more than 250 member organizations have joined the IBM Quantum Network, from Fortune 500 companies to government agencies looking to bolster their plans to implement quantum computing applications.