Strategic Intelligence: Deep Dive into Quantum Algorithms

All industries will face both risks and opportunities once quantum computing has matured. A major risk quantum computers will pose in the future is the ability to run Shor’s algorithm, which effectively decrypts today’s standard encryption protocols, allowing online data to be hacked. However, quantum computers can also run highly complex models and simulations that would be inefficient to run on classical computers, making quantum computing essential for complex strategic planning, new discoveries, and competitive advantage.

Key Highlights

• The fact that Shor’s algorithm cannot be run today does not mean that today’s encrypted data is safe, as Shor’s algorithm can be applied to historic data. Furthermore, cyberattackers are already stealing encrypted databases in anticipation of quantum computing maturing to be able to decipher them-a process known as “harvest now, decrypt later”.
• Despite progress in recent years, today’s quantum computers cannot run quantum algorithms at a meaningful scale. Thus far, only small-scale proofs of concept have been demonstrated. It is expected that, from 2030, quantum computing will reach commercial scale and that algorithms will be run on large-scale real-world use cases. The variational quantum eigensolver (VQE) algorithm, applicable to chemistry and materials simulations, is one of the few algorithms already in use.

Report Scope

• This report looks at six quantum algorithms: Shor's algorithm, Grover's algorithm, the Bernstein-Vazirani algorithm, the Harrow-Hassidim-Lloyd algorithm, variational quantum eigensolvers, and the quantum approximate optimization algorithm.
• It includes overviews of each, along with practical use cases.
• The report also identifies barriers to scalability and benchmarks the six algorithms against each other.

Reasons to Buy

• Quantum computing will be able to solve problems that today’s classical computers cannot. However, the learning curve for understanding the potential of quantum computing is steep, and businesses need to begin preparing now to secure a competitive advantage. This report is the ideal introduction to quantum algorithms and provides guidance on how businesses can protect their data and ensure trust with their customers and partners.