By Charles-Henry Monchau, CIO, Bank Syz
Google’s quantum chip, Willow, can solve in under five minutes a problem that would take the fastest supercomputers 10 septillion years—longer than the universe’s history. While not a replacement for everyday laptops, its potential in medicine, logistics, and materials science is ground-breaking.
So what is quantum computing? At a fundamental level, it is a form of computation that leverages the principles of quantum mechanics, a branch of physics governing the behaviour of particles at the atomic level.
While a regular computer, like a laptop, uses bits, either 0 or 1, to process information, a quantum computer uses quantum bits (qubits), which can represent 0, 1 or a combination of both (00, 01, 10, 11), thanks to a property called superposition.
Processing paths
This unique feature enables quantum processors to handle vast amounts of data at speeds exponentially greater than most advanced computers. In superposition, qubits scale exponentially: two qubits can process four pieces of data, three can process eight, four can process sixteen, and so on.
To put it in layman’s terms, Timothy Hollebeek, Industry Standards strategist at DigiCert, imagines a labyrinth. A classical computer would methodically explore one path at a time to find the exit. A quantum computer, however, evaluates all possible paths simultaneously, delivering a solution far more quickly.
Qubits are interconnected through a phenomenon called entanglement, where the state of one qubit is directly linked to another, regardless of the distance between them. Quantum computers also leverage interference patterns to enhance correct results and suppress incorrect ones.
By combining superposition, entanglement, and interference, a quantum computer has the potential to factor large amounts of data and solve exceptionally complex problems.
Real world applications
In medicine, quantum computers could discover new treatments by identifying patterns in clinical trial data or genetic information that are beyond the capabilities of current computational systems. They could also enhance the safety of AI-driven systems, including those used in military targeting, banking, and autonomous vehicles.
However, building a fully operational quantum processor requires first overcoming technical challenges. A practical quantum system would need thousands of stable and interconnected qubits. Google’s Willow, for example, operates with 105 qubits, but even creating a single qubit is an immense engineering feat. Qubits only function at ultra-low temperatures, close to absolute zero, where certain materials become superconductors, eliminating electrical resistance.
Furthermore, controlling and manipulating qubits to extract data is equally challenging. It requires atomic microscopes, ultra-precise lasers, and highly sensitive sensors. Even under ideal conditions, qubits are incredibly fragile and prone to disturbances or “noise.” This noise can stem from factors like imperfections in manufacturing, fluctuations in control signals, temperature changes, or interactions with the surrounding environment. Such disturbances compromise the reliability of qubits.
Early adopters
Quantum computing is considered to be at its infancy stages. The major focus of research has been on enhancing qubit stability and minimising errors. Big tech companies such as Google, IBM, Microsoft, and Amazon, alongside ambitious startups like Rigetti and IonQ, are driving the change by developing prototypes and investing heavily in quantum technology, making quantum computing a nascent yet highly promising area for investors.
Many investors have high hopes that quantum computing sector could become the next tech revolution, mirroring the AI frenzy sparked by ChatGPT. Analysts estimate that quantum computing could become a $1.3 trillion industry by 2035.
By 2030, Google plans to build a full-scale quantum computer for $1 billion, its executives call it a small price for technology that could cure cancer. Following the announcement of its Willow quantum AI chip, a breakthrough in its research journey that began in 2012, Alphabet’s stock rose by 5% on the day of the announcement and generated interest in pure-play investment options in quantum technology. .
Many investors and scientists alike have warned that the development of large-scale, fault-tolerant quantum computers remains a distant goal, and that it may be too premature to identify winners in the sector and practical real-world use cases.
The technology is still far from being mature, and the road to practical, fault-tolerant quantum computing remains steep, but its arrival is inevitable. The challenges are significant—technical difficulties, scalability, security threats, and cost—but so are the opportunities. Quantum computing holds the potential to transform industries such as medicine, logistics, materials science and beyond. As Confucius’ quote goes: “When the wind of change blows, some build walls, and others build windmills”.
