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Amid all the excitement around artificial intelligence (AI), other equally fascinating and potentially disruptive technological revolutions seem to have taken a backseat. One such concept is quantum computing. In simple terms, regular computing involves the use of bits like tiny switches that are either on (1) or off (0). Quantum computers use qubits, which are like special switches that can be on, off, or both at the same time. This lets quantum computers tackle certain problems much faster than regular computers.
Notably, with applications in diverse fields such as healthcare, banking and automobile among others, the market for quantum computing is expected to clock a CAGR of 32.1% to reach $6.53 billion by 2030.