On Tuesday, Google (GOOG) shares surged by over 5% following the announcement of their new quantum computing chip named Willow, which the company claims marks a significant advancement in the field of quantum technology. According to Google’s blog post, this new chip can solve a complex mathematical equation in just five minutes – a task that would take classical supercomputers an unfathomable 10 septillion years.
This breakthrough addresses a critical limitation in quantum computing. Unlike traditional computers utilizing bits (1s and 0s), quantum computers operate on qubits, which can represent multiple states simultaneously, thereby allowing for vastly greater calculations. However, qubits are inherently sensitive and are often affected by errors, particularly as the number of qubits in a computation increases. Google asserts that it has successfully reduced these errors and increased the number of qubits used in tests, significantly moving closer to making quantum technology viable for real-world applications.
Google is not alone in this race. Companies such as IBM, Intel, Amazon, Microsoft, and Honeywell are also making strides in quantum computing. The technology is anticipated to have a broad array of applications, including drug discovery, advancements in sustainable energy solutions, and enhanced cybersecurity measures.
The U.S. government has recognized the importance of this technology, ramping up support for quantum computing research. Legislative initiatives began with the National Quantum Initiative Act in 2018, promising $1.2 billion in funding, and were followed by the CHIPS and Science Act. Recently, bipartisan senators proposed a reauthorization of the 2018 act, promising an additional $2.7 billion for continued research in quantum computing applications. Meanwhile, China is investing significantly in quantum research, with reported expenditures exceeding $15 billion.
Despite these exciting developments, a 2024 McKinsey survey indicated a cautious outlook among experts, with a majority (72%) believing fully operational quantum computers won’t be realized until after 2035.
In summary, Google’s advancement in quantum computing through the Willow chip represents a significant milestone not only for the company but for the industry as a whole. The increasing government support and interest from various tech giants highlight a collective movement towards harnessing quantum technology’s potential. As research continues and challenges are addressed, the dream of practical quantum computing applications feels increasingly attainable. This could lead to revolutionary breakthroughs across multiple fields, hinting at a future where such technologies become commonplace.