Quantum computing promises computational resources that far exceed the capabilities of classical computing. It is projected that a fault-tolerant “universal” quantum computer will solve many of the intractable problems currently limiting commercial and scientific progress.
No one is certain when an incredibly powerful universal quantum computer will arrive. However, in what is known as today’s noisy intermediate-scale quantum computing (NISQ) era, the use of increasingly clever quantum-based and quantum-inspired algorithms that take full advantage of current NISQ systems and quantum annealers is already producing incremental benefits. Some organizations in finance, manufacturing and other sectors are already deriving value from insights and non-trivial solutions for a small set of industry-relevant problems.
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