Jeremy's Research blog
3 min readJan 14, 2024

--

Quantum computing, a field that once resided in the realm of theoretical science, has made significant strides by 2024, evolving into a technology with practical applications and promising potentials. Here’s an exploration of how quantum computers are currently being used and the advancements as of 2024.

Current Uses of Quantum Computers

  1. Chemistry and Molecular Modeling: Quantum computing is revolutionizing the field of chemistry, particularly in understanding and controlling molecular reactions. Its ability to simulate atomic-level interactions makes it a powerful tool for drug discovery and material science. The quantum approach to chemistry calculations is facilitated by relatively low resource requirements compared to other applications, making it one of the earliest beneficiaries of this technology​

2. Financial Applications: In the financial sector, quantum computing is making inroads in areas like risk management and optimization. The processing power of quantum computers allows financial institutions to manage complex portfolios more effectively and identify risk patterns more efficiently​

  • Machine Learning and AI: Quantum computing is also expected to have a significant impact on machine learning and AI. Quantum algorithms could require fewer parameters and less training data than their classical counterparts, making the processing more efficient. A notable example is a quantum-based model developed with Hyundai and IonQ that demonstrated efficient differentiation between road signs with significantly fewer parameters than classical models​
  • Manufacturing and Prototyping: In manufacturing, quantum computing facilitates more accurate and efficient prototyping and testing, leading to better product designs and reduced development costs​
  • Battery Technology Development: Quantum computing aids in understanding materials and chemical reactions, which is essential for the advancement of battery technology. This understanding is crucial for developing more efficient and longer-lasting batteries, particularly for applications like electric vehicles​

Advancements in Quantum Computing as of 2024

The quantum computing landscape in 2024 is characterized by a blend of advancements and ongoing challenges:

  • Technological Frontiers: The field is seeing significant developments in technologies like superconducting qubits, trapped ions, and topological qubits. Each of these technologies offers unique approaches to solving quantum computing challenges, such as error correction and scalability​
  • Key Industry Players: Major companies like IBM Quantum, Google Quantum AI Lab, and Rigetti Computing are at the forefront of advancing quantum computing technologies, each contributing uniquely to the field​
  • Quantum Computing Challenges: Despite these advancements, the field still grapples with issues like quantum decoherence, high error rates, and scalability challenges. Addressing these issues is critical for the evolution of practical and large-scale quantum computing applications​
  • Potential and Limitations: While quantum computing holds immense potential, its current applications are best suited for large-scale problems that require significant computational power. For smaller-scale business problems, the advantages of quantum computing over classical computing are less pronounced​

The Future of Quantum Computing

The future of quantum computing is promising, with potential applications spanning across various fields. However, it is also a slow-moving field, with gradual improvements spurred by fresh ideas and new algorithms. Building a quantum-skilled workforce is essential for harnessing the full potential of this technology​

In conclusion, as of 2024, quantum computing is no longer a theoretical concept but a growing field with real-world applications and significant potential. It’s a field marked by continuous innovation, with each advancement bringing us closer to solving some of humanity’s most complex challenges in ways previously unimaginable.

--

--

Jeremy's Research blog

Quantum computing researcher, hiker, dog lover, intense gamer, artist and writer. I like writing SciFi hard science, and horror fiction..