COMMERCIAL APPLICATIONS OF QUANTUM COMPUTING

In the last few years the quantum computing has taken a big leap towards the
development of various commercial products and prototypes. It has also gained a
huge popularity in solving business problems with practical quantum tools, among
which some have been discussed here. Before stating them its better to first take a
look at what quantum computing really is . To begin with quantum computing can be
described as computing using the three fundamental concepts of quantum physics
unlike the classical physics which includes - ‘superposition’ , ‘entanglement’, and
‘qubits’. The classical computers is based on bits which can be either zero or one
,but in quantum computers the qubits can be both zero as well as one which leads to
do a massive amount of parallel processing . One can do a lot of computations
stacked togather at the same time. Entanglement on the other hand is the space that
acts on the top of superposition ,which lets two qubits to link up and remain
untangled regardless of the distance between them which accounts for efficient and
special quantum algorithms. The power of all these concepts in commercial
applications of quantum computing is evident from the fact that “ in 2019 a 53 qubit
quantum computer solved a problem in 200 seconds whereas the estimated time
for a classical computer to solve the same problem is around 10 000 years and in
2021 february Google and D-ray used the quantum annealing which is another kind
of quantum computers to solve a real world problem three million times faster than a
classical computer ” . Hence clearly there's a massive advantage in using quantum
computers. Different companies came up with their own platform and frameworks to
address the issue of accessibility of this quantum hardware providing quantum
simulators , emulators or actual real quantum processors to perform quantum
computing for commercial purposes through the help of cloud . IBM Technology
launched their python based Qiskit framework which also offers a IBM Q Experience
GUI accessing device with upto 65 qubits . Similarly the Google established the
Quantum AI lab for NISQ processors and simulators in 2013 and Amazon also
launched their ‘Amazon bracket’ which is a fully managed service for providing
quantum technologies and systems. Microsoft also came up with Microsoft Azure
Quantum which supports development using Cirq, Qiskit and Q#. Through the help of
these various domains have got benefitted like the ‘cryptography’, ‘Finance’,
‘Healthcare’,’material science’ and ‘logistics’. Some of them are described below.

1. Volkswagen who has partnered with Google to optimize a large autonomous

fleets : In the first project, the Volkswagen specialists are working on the further
development of traffic optimization. They are building on the research project which
they have already successfully completed and now want to consider additional
variables in addition to reducing travelling times. These include urban traffic
guidance systems, available electric charging stations or vacant parking spaces.In a
second project, the Volkswagen specialists aim to simulate and optimize the
structure of high-performance batteries for electric vehicles and other materials.
Volkswagen Group Research and Development experts expect this approach to
provide new information for vehicle cons­truction and battery research.A third project
concerns the development of new machine learning processes. Machine learning is
a key technology for the development of advanced AI systems, which are a
prerequisite for autonomous driving.

2. Dubai Electricity and Water Authority is working with Microsoft to use Quantum
Computing (QC)for energy optimization: In 2018, Dubai Electricity and Water
Authority (DEWA) organised the first intensive quantum computing training
programme in cooperation with Microsoft. The programme is part of DEWA’s efforts
to employ the latest technologies and benefit from the capabilities of quantum
computing in tackling challenges of energy efficiency and optimisation. The
programme aimed to develop new solutions based on quantum computing for the
production, transmission and distribution of energy and water, as well as in
conservation efforts.

3. The US Department of Energy has two labs looking into using QC for grid
optimization: Optimization problems such as managing supply chains, devising more
efficient transportation routes, and improving electric grid and telecommunications
networks are considered "killer applications" for quantum computing. These are
large-scale problems with numerous factors and variables involved, which makes
them well suited for quantum computers and the way in which they run calculations.

4. In 2020 Caixa Bank started a pilot program to use QC for risk classification
modeling : The company is advancing its quantum computing strategy and has
developed a machine learning algorithm to classify customers according to their
credit risk. With this project, CaixaBank has become the first institution in Spain and
one of the first in the world to incorporate quantum computing into its services.

5. KPMG ran a portfolio benchmarking pilot in 2021 and found QC to perform better:
The KPMG NewTech quantum team and the Technical University of Denmark (DTU)
explored the potential of quantum computing by implementing a Markowitz model
for stock portfolio optimisation on the 2000Q D-Wave quantum annealer. We
successfully embedded the model in the D-Wave machine and performed a portfolio
optimisation simulation with 65 stocks, benchmarking the results against two
classical algorithms: brute force and simulated annealing.
6. Paypal partnered with IBM's Q experience to apply quantum computing to fraud
detection : The company tried to get in on the cutting-edge technology that could
change the way the payments giant catches fraud and measures the
creditworthiness of its customers. The firm partnered with IBM in October 2020 to
figure out how to use quantum computing to improve fraud detection, credit-risk
operations, and overall security posture.

7. Healthcare companies like Anthem are using quantum computing

partnering with IBM Quantum Network for computationally intense and
expensive tasks, such as identifying anomalies, where there's tons of data and
interactions.

8. Daimler has partnered with IBM to look into using QC to make longer lasting chips:
Electric vehicles have an Achilles heel, the capacity and speed-of-charging of their
batteries. A quantum computing breakthrough by researchers at IBM and Daimler
AG, the parent company of Mercedes-Benz, are trying to tackle this challenge. They
used a quantum computer to model the dipole moment of three lithium-containing
molecules, which brings us one step closer the next-generation lithium sulfur (Li-S)
batteries that would be more powerful, longer lasting and cheaper than today’s
widely used lithium ion batteries.

9. Cambridge Quantum, a partner of Roche and Crown Bioscience, is using QC for

analysis of genetic data for cancer treatment: The initial motive of this partnership
focuses on deriving insight from the analysis of genetic data to identify cancer
treatment biomarkers and drive the next generation of bioinformatics.The agreement
continues towards innovation and the application of technology to accelerate and
de-risk drug development, leading to stronger drug candidates and a more rapid
transition from preclinical phases to the clinic.

10. QC can be used as password crackers . Startup companies like ISARA are
developing methods against quantum hacking: Currently, encrypted data stored for
future use will be vulnerable to eventual decryption by a quantum computer. Without
appropriate quantum-safe cryptographic schemes, it will be impossible to guarantee
the integrity and authenticity of transmitted information, as data tampering will go
undetected. In addition, the lack of secure data encryption could violate current
regulatory requirements for data privacy and security.ISARA uses algorithms that are
resistant to hacker attacks using both traditional computers of today, as well as
quantum computers.
11. In this year of 2024 New Scientist Emerging Technology Summit, HSBC outlined
their strategy of building dedicated in-house expertise to develop quantum-ready
products in these areas - which can be deployed as soon as the hardware is ready.

12. Computational fluid dynamics (CFD) simulations are a crucial part of the design
process within both automotive and aerospace. However, for very complex
scenarios, the hypothesis of industry leaders such as Rolls Royce is than for iterative
design of jet engine designs - the efficiency of a quantum solution could be hugely
valuable.

13. Janssen Pharmaceuticals are investigating how quantum computing can be

used to make screening of potential drug candidates more efficient, as well as be
applied for molecular simulations. This work can specifically relate to the
applications in crystal structure predictions or binding affinity, as well as property
predictions, including toxicity.

14. In 2022, Ernst & Young (EY) became the launch customer for the
Quantum-Secured Metro Network (QSMN), the trial of a commercial QKD network
built using Toshiba QKD hardware. The QSMN offers a range of quantum-secured
services, such as dedicated high bandwidth end-to-end encrypted links spanning a
large metropolitan area.

15. Quantum computing can unlock new approaches for tackling climate change.
Among the early applications: modeling molecular interactions involving 50 to 150
atoms, something that classical computers cannot do. This could spark the
development of better and more efficient chemical catalysts, which, in turn, could
reduce emissions and enable more robust carbon-capture-and-storage solutions.
Further down the road, quantum technology could help in the development of lighter
and stronger materials for building cars and aircraft.

16. Airbus is exploring the use of quantum sensors to more accurately measure
attributes such as frequency, acceleration, rotation rates, electric and magnetic
fields, and temperature to improve its navigation systems.

17. Quantum algorithms from 1936 drastically increased the speed of processing
unstructured data searches. Moreover, it performs the search in fewer steps than
classical systems.

18. In IoT systems , Quantum computing also can play a pivotal role to drastically
reduce the time taken for real-time data processing and optimization.
It is thus evident that not only various investments have been made to pioneer the
commercial applications of quantum computing in different fields like cybersecurity,
chemical engineering, and finance, logistics and much more. Although it is still in the
development and research phase still the Quantum computing has shown the
potential for numerous breakthrough projects.