Quantum computing: IBM timeline could power up funding

{"text":[[{"start":null,"text":"

"}],[{"start":12.46,"text":"Quantum computers harness the mind-bending probability of subatomic particles existing in multiple states simultaneously, creating ultra-powerful processors able to carry out multiple calculations at once. "},{"start":23.552,"text":"Or at least, that’s the theory. "},{"start":25.607,"text":"General purpose quantum computers remain a fantasy. "}],[{"start":29.580000000000002,"text":"This week, IBM attempted to lay out a road map for the practical application of quantum computing, claiming that it could provide error-free calculations by the end of the decade. "},{"start":38.959,"text":"If true, it could supercharge investment in the sector. "}],[{"start":43.2,"text":"Last year, global quantum start-ups received $2.35bn in funding, according to McKinsey data. "},{"start":50.304,"text":"Although a record, it was only a fraction above the total raised in 2021. "},{"start":54.859,"text":"There was also a slowdown in new quantum start-ups. "},{"start":57.739000000000004,"text":"The number founded in 2022 was half that of the previous year. "}],[{"start":62.410000000000004,"text":"Big Tech companies are still investing in research and development. "},{"start":66.052,"text":"Along with IBM, Amazon and Google are both working on quantum computing. "},{"start":70.482,"text":"In China, Baidu is investing in quantum research. "},{"start":73.787,"text":"But Alibaba has opted to shut its own quantum computing lab as it seeks to cut costs. "}],[{"start":79.51,"text":"The potential use cases for quantum computing extend to any area in which ultrafast processing speeds might help, from drug discovery to energy efficiency. "},{"start":88.164,"text":"There are concerns that it could unravel digital encryption. "},{"start":91.132,"text":"Some companies are attempting to integrate research in the real world. "},{"start":94.662,"text":"IonQ is working with companies like Hyundai. "}],[{"start":98.02000000000001,"text":"The sticking point is errors. "},{"start":100.099,"text":"The building blocks of quantum computing are quantum bits — aka qubits. "},{"start":104.32900000000001,"text":"IBM is developing a new chip that will have 1,121 qubits. "},{"start":108.99700000000001,"text":"For comparison, Baidu’s processor has 10. "},{"start":112.12700000000001,"text":"But many qubits do not ensure accuracy. "},{"start":114.68200000000002,"text":"Maintaining unstable quantum states for long enough to be useful is an expensive endeavour. "},{"start":119.32400000000001,"text":"In Vancouver, Photonic recently raised $100mn from investors including Microsoft to further its efforts to build a “fault tolerant” quantum computer. "},{"start":127.804,"text":"The magnitude of the challenge may be responsible for the slowdown in start-up growth. "}],[{"start":133.07,"text":"If IBM’s timeline is accurate that could change, giving start-up investors confidence that exits are possible in the near future. "},{"start":140.037,"text":"IBM may be a leader in the sector but it is slow-moving. "},{"start":143.442,"text":"Its failure to commercialise its early artificial intelligence research suggests plenty of room for competitors in quantum. "}],[{"start":149.6,"text":""}]],"url":"https://creatives.ftacademy.cn/album/133100-1701753069.mp3"}