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5 Common Misconceptions About Quantum Computing

by Wall Street Logic
August 23, 2023
in AI
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1. Classical Computers Will Be Replaced By Quantum Computers

Quantum computers are not likely to ever replace classical computers. While quantum computing can perform calculations that would take classical computers billions or even trillions of years in hours or minutes, there are many tasks that do not require the immense power of quantum computing. The average computer user will have no need to use quantum computing for communication, creativity, or business tasks, meaning that classical computers will continue to be with us for some time yet.

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2. Quantum Computers Are Faster At Every Kind Of Job

Quantum computers excel at complex mathematical problems required for scientific research and modeling non-quantum complex systems. These tasks include building simulations to model the behavior of sub-atomic particles, analyzing financial markets, meteorological patterns, and biological ecosystems. However, for most day-to-day tasks such as word processing, watching videos, and playing games, quantum computers are unlikely to offer significant speed increases compared to classical computers.

3. Quantum Computing Will Break Encryption

Quantum computing has important implications for encryption. Encryption protocols widely used to secure data on the internet are more vulnerable to quantum-powered hacking attacks than classical hacking attacks. However, efforts are underway to develop “quantum-safe” encryption protocols, and investigations into new cryptographic fields are expected to result in new protocols that will be safe for some time yet.

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4. There’s No Practical Use For Quantum Computers Yet

Quantum computing is already being utilized in various industries. Delivery giant DHL uses quantum computers to optimize delivery routes, Goldman Sachs has developed quantum algorithms for financial calculations, Merk uses quantum chemistry to help develop new antibiotics, and BMW and Airbus are working on applying quantum technology to fuel cell development. The market for quantum computing is projected to expand significantly in the coming years.

5. Quantum Computing Is Only Viable For Governments And Big Business

While the cost of quantum computers is high and they require secure and controlled environments, access to the technology is becoming more affordable. Many problems that can be solved with quantum computers are relevant to smaller businesses and organizations, such as optimizing supply chains and creating new products more efficiently. Quantum computing providers are already offering services designed to make the technology accessible to these businesses.

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