In this article we will look at the basics of Quantum Computing; what it is, how does it help and what are the risks?
Quantum computing owes its roots to the mind-boggling quantum mechanics – the branch of physics that studies what goes on inside atoms. With the enormous potential that quantum physics brings, there are big risks and huge rewards. So what are they and how will they affect us?
Certain calculations and particular algorithms can potentially be done exponentially faster using a quantum computer rather than a silicon-based computer but Quantum computers are not necessarily a replacement for classical computers.
This is a good question in that whilst quantum computing seemingly could bring huge benefits to data analysis across a range of entities – finance being a big one.
According to the BBC article ‘Quantum computing: Game changer or security threat?’, “Goldman Sachs, RBS, Guggenheim Partners and Commonwealth Bank of Australia have all invested in quantum computing” with the aim of being ahead of their competitors but there are huge risks to security – especially within the financial sector!