March of the clever machines
Money Magazine Australia|June 2022
Quantum computers are a work in progress, but they could eventually help us make better decisions in a range of areas
ANNETTE SAMPSON
March of the clever machines

A single adult human is composed of more than seven octillion atoms (that's 7,00 0,000,000,000,000,000,00 0,000,000). To build a conventional computer with the same power as IBM's new 127-qubit (we'll come to them in a moment) Eagle processor, the number of traditional computer bits needed would be more than the number of atoms contained in all the Earth's population - more than 7.5 billion people.

It's not hard to see why quantum computing is a potentially game-changing and mind-blowing science.

The technology isn't perfected yet, but predictions are that the problems they could solve are way beyond the realm of traditional computing, including better ways of managing risk and optimising returns in investment portfolios.

But first, the science. According to IBM's manager for quantum applications research and software, Stefan Woerner, today's computers manipulate individual bits to do calculations and store information as a 1 or a 0.

Quantum computers rely on qubits, which can be both land 0 at once in a combination of states. He says it's a fundamentally different way to process information.

"They are not a replacement for classical [computers]," he says. "They complement our classical systems by possibly being able to solve some forms of intractable problems that become extremely large or time-consuming during computation."

Peter Turner, the chief executive of the Sydney Quantum Academy, says quantum computing is part of the wider development of quantum physics with technology being developed in three key areas: sensing, communications and information technology.

Who stands to benefit

He says Australia has been at the forefront of quantum technology, though much of the development of things like quantum computers is happening overseas with companies such as Google and IBM.

This story is from the June 2022 edition of Money Magazine Australia.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the June 2022 edition of Money Magazine Australia.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM MONEY MAGAZINE AUSTRALIAView All
Is the public market shrinking?
Money Magazine Australia

Is the public market shrinking?

Australia needs a healthy stock market to give companies access to funds and to allow retail investors to build wealth.

time-read
4 mins  |
March 2024
India: three steps to transformation
Money Magazine Australia

India: three steps to transformation

Massive investment and extensive reforms turbocharge the economy.

time-read
4 mins  |
March 2024
The ballet of business
Money Magazine Australia

The ballet of business

Changing direction, products, models and marketing is a hard task for a business. We chart what it takes to turn a business around, plus profile four successful pivots.

time-read
7 mins  |
March 2024
Save money and the planet
Money Magazine Australia

Save money and the planet

Could the high cost of living give us the incentive we need to reduce how much water and energy we use or waste? These eco-friendly household tips will help you do just that.

time-read
4 mins  |
March 2024
AI adoption is the new black
Money Magazine Australia

AI adoption is the new black

Artificial intelligence is set to reshape the commercial world, and small enterprises can’t afford to miss the boat.

time-read
3 mins  |
March 2024
Spam attack! Murky laws jam our inboxes
Money Magazine Australia

Spam attack! Murky laws jam our inboxes

Unwanted marketing material is one of the pain points of modern life.

time-read
5 mins  |
March 2024
From rags to riches in style
Money Magazine Australia

From rags to riches in style

Rich Tran sported a bowl cut until he was 14 years old and had no intention of becoming a hairdresser.

time-read
6 mins  |
March 2024
New work deals are killing the 'old' office
Money Magazine Australia

New work deals are killing the 'old' office

The Covid pandemic and the subsequent lockdowns accelerated the trend to more people working from home. It was a mixed experience.

time-read
4 mins  |
March 2024
Points taken: the truth about rewards
Money Magazine Australia

Points taken: the truth about rewards

Can hopping between credit cards really boost your frequent flyer haul and give you cheap or free travel - or is it doing more harm than good behind the scenes? Money puts it to the test.

time-read
3 mins  |
March 2024
Shortcuts to own a home
Money Magazine Australia

Shortcuts to own a home

Innovative ideas with a focus on low costs and sustainability could help solve the housing crunch.

time-read
4 mins  |
March 2024