Google (NASDAQ:GOOGL) has announced plans to introduce commercial quantum computing applications within the next five years, a timeline that challenges Nvidia‘s (NASDAQ:NVDA) Jensen Huang‘s 20-year prediction.
What Happened: Hartmut Neven, the head of Google Quantum AI, anticipates real-world applications of quantum computing to emerge within a five-year timeframe, potentially revolutionizing sectors such as materials science, drug creation, and energy alternatives. Neven shared his optimistic outlook on the future of quantum computing in an interview with Reuters on Wednesday.
“We’re optimistic that within five years we’ll see real-world applications that are possible only on quantum computers.”
Despite the uncertainty surrounding the timeline for quantum computing advancements, Google remains confident in its progress. By leveraging “qubits” to process multiple numbers at once, quantum computing has the potential to create machines thousands of times stronger than traditional computers. This promise has attracted considerable interest from governments and businesses, especially in fields such as cybersecurity, finance, and healthcare.
Since its inception in 2012, Google’s quantum computing program has made substantial progress. In December, Google announced its new chips had overcome a significant challenge in the industry. With quantum processors, Google solved a computing problem in minutes—something a conventional computer would take longer than the entire history of the universe to complete.
On Wednesday, Google’s quantum computing scientists revealed new progress toward their five-year goal in a paper published in the scientific journal Nature.
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Why It Matters: The remarkable speed and efficiency of quantum computing, along with its potential to revolutionize industries, have drawn significant interest from governments and businesses. They have closely monitored quantum computing’s potential to revolutionize modern cybersecurity, as well as industries like finance and healthcare. Google’s ambitious timeline prediction is a sharp contrast to that of Nvidia’s Huang who estimated that practical applications of quantum computers are approximately 20 years away.
Following Huang’s remarks, quantum computing stocks experienced a significant decline, with Quantum Computing Inc. (NASDAQ:QUBT), D-Wave Quantum Inc. (NYSE:QBTS), Rigetti Computing Inc. (NASDAQ:RGTI), and IonQ tumbling sharply on Jan. 8.
However, Google’s timeline estimate aligns with that of Microsoft Corporation‘s (NASDAQ:MSFT) co-founder Bill Gates‘ prediction that it could take three to five years to develop logical quantum computing qubits. Gates, who has invested in quantum computing company IonQ Inc. (NYSE:IONQ) through his venture Breakthrough Energy, made this prediction during Yahoo Finance’s Opening Bid podcast.
The Class A and Class C shares of Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) surged over 20% over the past six months.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
