OUR BEST IDEAS, QUICK AND CURATED | DECEMBER 2, 2022

Read the entire newsletter

What’s so special about a qubit?

Our experts serve up a periodic look at the technology concepts leaders need to understand to help their organizations grow and thrive in the digital age.

What it is. Just as a bit is the most basic unit of information in today’s computers, a qubit (short for quantum bit) is the essential unit of information in quantum computing. Unlike conventional binary bits that store in a computer as either a zero or one, quantum bits can represent a combination of both zero and one at the same time, based on a quantum-physics principle called superposition.

The limitation of conventional bits comes into play when today’s computers face a problem with multiple variables. In these scenarios, computers must conduct a new calculation every time a variable is changed. Each calculation is a single path to a single result.

Quantum computers, on the other hand, have an exponentially larger working space, thanks to the nature of qubits. They can explore a gigantic number of paths simultaneously, which is what gives quantum computers the potential to be so much faster and solve complex problems that can’t be solved by today’s computers.

Why it matters. In the past few years, quantum computers have demonstrated that they could outperform today’s most powerful supercomputers at specific tasks. For instance, Google claimed “quantum supremacy” in 2019 when it solved in seconds a problem that would have taken the world’s most powerful supercomputer at the time thousands of years.

While such achievements are extraordinary scientific breakthroughs, commercial uses of quantum computing are in their early days. However, quantum computing could enable game-changing advances across industries, from dramatically reducing drug-discovery timelines and improving supply chain efficiency to sparking the development of breakthrough products, such as green fertilizers for the agriculture industry. Believers are putting down real money to advance the technology; start-up activity and investments in quantum computing have skyrocketed since 2015, with more than $4 billion pouring into start-ups in 2021 alone.

Many companies—particularly those in industries that stand to reap the biggest benefits first, such as chemicals, pharmaceuticals, automotive, and financial services—have assembled initial quantum teams that are testing early-stage algorithms on the current class of quantum systems. Conservatively, we estimate the incremental impact of quantum computing on just these four industries could be up to $700 billion by 2035.

Take a quantum leap step. As with most technologies, expect early movers to reap the highest rewards. Consider recruiting quantum-computing talent now, as it’s in short supply. Even a small team of a few experts may be enough to help an organization explore possible use cases and screen potential strategic investments in quantum computing.

What technology concepts would you like us to help explain next? Let us know.

— Edited by Barbara Tierney, senior editor, New York

Share these insights

Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.