After decades of theoretical promise, some tech companies are making a bold claim: quantum computing has moved from laboratory curiosity to business reality.
“Quantum mechanics behaves in strange ways that nobody fully understands, but we are now at a point where we understand them enough to take advantage of it to do computations,” Julian Tan, business development executive of IBM Quantum, tells The Edge Singapore.
In June, IBM and Japan’s Riken research institute ran an experiment simulating molecular nitrogen and iron-sulfur clusters. The team simulated molecular nitrogen and iron–sulfur clusters using up to 77 qubits of IBM’s Quantum Heron processor and Japan’s Fugaku supercomputer. What typically takes eight hours on conventional systems was completed in under two hours. The quantum processor’s share lasted just 13 minutes, but it drove a fourfold improvement, adds Tan.
The hybrid strategy
The experiment with Riken showcases a hybrid model that IBM calls quantum-centric supercomputing. The approach integrates quantum machines into existing workflows so qubits can tackle problems beyond the reach of classical systems, boosting the efficiency and capability of both systems.
“Quantum computers today are still not perfect yet [wherein they still commit errors], but when used in combination with a supercomputer, you can do things better and faster than a classical approach,” says Tan.
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He describes quantum-centric supercomputing as a bridge to quantum advantage, or the milestone when quantum machines outperform classical methods on practical problems. Even then, Tan argued, hybrid architectures will remain essential for tackling real-world challenges such as cancer drug discovery.
That vision was reinforced on Aug 26, when IBM and AMD announced a collaboration to co-develop next-generation architectures for quantum-centric supercomputing. They plan to build scalable, open-source platforms that combine IBM’s quantum computers and software with AMD’s high-performance computing and AI accelerators. The move could help solve complex problems in fields such as drug discovery, materials science, logistics and optimisation.
Quantum utility versus advantage
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IBM frames quantum progress in two stages. Quantum utility means quantum systems can solve problems too complex for brute-force classical computing and beyond the reach of traditional approximations. This makes quantum a useful tool today, even if it has yet to surpass every classical approach, as shown in IBM’s project with Riken mentioned earlier.
The next stage is quantum advantage, which is when quantum systems provide clear benefits such as faster, cheaper or more accurate results than any classical method. IBM stresses that this will not arrive as a single breakthrough moment but as a gradual process, with more and more problems where quantum proves its practical relevance before ultimately achieving full advantage.
IBM expects the first quantum computer to reach quantum advantage to be based on superconducting qubits instead of trapped ions, neutral atoms or single electrons.
Superconducting qubits use electric circuits made from materials that, when cooled to a critical temperature, lose almost all resistance and dramatically increase conductivity. This property allows them to maintain delicate quantum states.
“Superconducting circuits have the best trade-off between all three key parameters of a quantum computer: error rates, speed and scalability,” says Tan. The drawback is that they must be cooled to about 15 millikelvin, or –273°C, but IBM views this as the most practical route to achieving quantum advantage.
Given these extreme requirements, most organisations will likely access quantum computing through cloud services rather than owning hardware, adds Tan. IBM currently operates more than 10 quantum machines accessible via its cloud platform, treating quantum computing similar to how high-performance computing evolved into a service model.
Organisations that require on-premises deployment for security or regulatory compliance can use the standalone, modular option known as IBM Quantum System Two.
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Tan notes that every IBM quantum computer today has at least 100 qubits, reflecting the view that meaningful quantum applications require that level of capacity or more.
Looking ahead, its first large-scale, fault-tolerant system, IBM Quantum Starling, is scheduled for 2029 and will be housed in a new quantum data centre in Poughkeepsie, New York. Starling is expected to run 100 million quantum operations using 200 logical qubits, which is about 20,000 times more than today’s machines. This milestone will mark a breakthrough in scalable quantum computing, enabling error-corrected qubits that can support larger and more reliable workloads.
Render of IBM Quantum Starling, a large-scale, fault-tolerant quantum computer that will be available by 2029. Photo: IBM
Real-world interest emerges
Organisations beyond research institutions are beginning to explore practical applications of quantum computing. Tan says that airlines are testing their use in gate scheduling and fuel optimisation, while financial institutions see promise in fraud detection and portfolio optimisation — areas where even marginal improvements can be highly profitable. “If a bank gains even half a per cent improvement in its fraud detection, it could bring millions of dollars to the organisation.”
Furthermore, concerns about future quantum computers breaking today’s encryption standards are pushing organisations, especially financial institutions, to review their current cybersecurity frameworks and embrace post-quantum cryptography.
The convergence with AI is adding further urgency. “AI and quantum are highly correlated, and the future of computing will see neurons (in AI) and qubits (in quantum) working together,” says Tan.
Quantum computing, he adds, could help “flatten the curve” of AI’s computational power consumption as it can help find accurate solutions to complex problems faster.
Gearing up for quantum
Forward-thinking companies have already taken steps to prepare for a quantum future. Some Fortune 100 firms, including Boeing, are setting up dedicated quantum research teams. In Singapore, Oversea-Chinese Banking Corporation (OCBC) is working with local universities on pilot projects in derivative pricing, data security and fraud detection.
However, more needs to be done as quantum computing requires fundamentally different thinking than classical approaches. “The way of thinking about one plus one does not equal two, and constructing probability distributions around it is not something that we grew up educated on. What we really need to do is to unlearn some classical thinking and learn the quantum approach so that we can solve our problems in a completely different way,” says Tan.
IBM has invested US$100 million ($128 million) over five years to train quantum developers globally, with eight million people taking part in its programmes, shares Tan.
It has also made training resources freely available online through IBM Quantum Learning, offering beginner-friendly courses in quantum information science and hands-on tutorials for practical use cases.
Additionally, IBM has open-sourced its quantum development framework, Qiskit, to enable anyone to build, optimise, and execute quantum workloads at scale. The company says Qiskit is now the preferred software development kit for 74% of developers worldwide and, as of May 2024, Qiskit has executed over three trillion quantum circuits on IBM’s hardware systems.
Besides technical talent, organisations must also identify where quantum can create business value. This can be achieved by partnering with the broader quantum ecosystem (including researchers, technology companies and early adopters in other industries) to accelerate learning and application, says Tan.
Quantum computing is still in its infancy, but IBM’s focus on delivering measurable quantum utility today and its track record of hitting roadmap milestones suggest that the technology is edging closer to commercial use. For businesses, the question is less about if and more about when their industries will need quantum capabilities, with the promise of quantum advantage offering exponential performance gains that could upend entire sectors.
Screenshot of IBM's quantum roadmap
