The Banking Executive Magazine - February 2023 Issue

Quantum Computing ISSUE 170 FEBRUARY 2023 the BANKING EXECUTIVE 11 QUANTUM COMPUTING HARDWARE Multiple quantum-computing hard- ware platforms are under develop- ment. The most important milestone will be the achievement of fully error-corrected, fault-tolerant quan- tum computing hardware. Big tech manufacturers have an- nounced plans to have fault-tolerant quantum-computing hardware by 2030. Technology companies like IBM, Microsoft and Intel have devel- oped quantum simulators and processors that can be accessed through avenues like purchase or special memberships. There are also a variety of open-source quantum toolkits on the market that can be ac- cessed online, like GitHub. The physical build of a true quantum computer consists mainly of three parts. The first part is a traditional computer and infrastructure that runs programming and sends instructions to the qubits. The second part is a method to transfer signals from the computer to the qubits. The third part is the storage unit for the qubits. This storage unit for qubits must be able to stabilize the qubits and certain needs or requirements have to be met. These can range from needing to be near zero degrees or the hous- ing of a vacuum chamber. Start-ups and investments in Quantum Computing (Source: McKinsey & Company Research Report on Quantum Computing)