NAB Digital Next: Emerging trends – The rise of quantum computing

Exploring the World of Quantum Computing

The final episode of the NAB Digital Next podcast for 2024 brought listeners a captivating discussion on the rapidly evolving realm of quantum computing. Host Brad Carr welcomed Steve Suarez, a renowned quantum computing expert, to shed light on this groundbreaking technology. Suarez, who boasts an remarkable background as the former global Head of Innovation at HSBC and now leads horizonx Consulting, provided valuable insights into this exciting field. Quantum computing, still in its nascent stages, holds immense potential to revolutionize various industries. Suarez’s in-depth description provided listeners with a clearer understanding of its capabilities and the transformative impact it could have on the future.

Unlocking the Mysteries of the Quantum World

The world of quantum mechanics, frequently enough described as the physics of the very small, is a realm of mind-bending phenomena and revolutionary possibilities. This interesting field delves into the behavior of matter and energy at the atomic and subatomic level, where the rules of classical physics no longer apply. Quantum mechanics has already given rise to groundbreaking technologies like lasers and transistors, transforming our world in profound ways. But we are only just beginning to scratch the surface of its potential. Researchers are actively exploring new frontiers in quantum computing, quantum communication, and quantum sensing, promising advancements that could reshape our understanding of the universe and revolutionize various industries. One of the key concepts in quantum mechanics is superposition, which allows particles to exist in multiple states simultaneously. Imagine a coin spinning in the air – it’s neither heads nor tails until it lands. Quantum particles behave similarly, existing in a blurry combination of possibilities until they are measured. Another mind-boggling phenomenon is quantum entanglement, where two or more particles become linked, even across vast distances. Measuring the state of one instantly influences the state of the other, no matter how far apart they are. This seemingly “spooky action at a distance,” as einstein called it, has profound implications for our understanding of space and time. The exploration of the quantum frontier is a journey into the heart of reality itself.It’s a quest to unlock the secrets of the universe and harness its power for the benefit of humankind.

Quantum Computing: Balancing Present Needs with Future Potential

The frontiers of technology are constantly expanding, and quantum computing stands as one of the most groundbreaking advancements with the potential to revolutionize our world. While this revolutionary technology promises to unlock solutions to some of humanity’s most pressing challenges, it also presents a unique set of hurdles that must be overcome.

Exploring the Promise and Challenges

In a recent discussion, leading expert Suarez delved into the multifaceted world of quantum computing, shedding light on its potential to transform diverse industries. Suarez highlighted the crucial balance between harnessing the power of this emerging technology while addressing immediate global concerns.

A Transformative Impact on Industries

Suarez emphasized the potential of quantum computing to reshape sectors like the space economy by enabling breakthroughs in propulsion systems and materials science. The field of climate-resistant agriculture could also benefit significantly, with quantum models predicting weather patterns and optimizing crop yields.Streamlining supply chains and enhancing logistics are other areas ripe for conversion through the request of quantum algorithms.

Tracking Progress: The Quantum Innovation Index

In conjunction with the discussion, a new initiative was unveiled: the Quantum Innovation Index. This index is designed to serve as a valuable tool for monitoring advancements and innovation within the quantum computing landscape.By providing a comprehensive assessment of progress, the index aims to guide investment, foster collaboration, and accelerate the progress of quantum technologies.

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## Interview with Steve Suarez on Quantum Computing



**Brad Carr:** Welcome back to the NAB Digital Next podcast. It’s exciting to have with us today Steve Suarez, a true leader in the realm of quantum computing. Steve, you bring a wealth of experiance from your time as the Global Head of Innovation at HSBC and now as the head of horizonx Consulting. Thank you for joining us.



**Steve Suarez:** Thank you, Brad. Breast dollars it’s great to be here and talk about this engaging field.



**Brad Carr:** Let’s dive right in. For those in our audience who might not be completely familiar with quantum computing, could you give us a concise but impactful description of what it is and why it has the potential to be so transformative?



**Steve Suarez:** Absolutely.Essentially,quantum computing harnesses the strange laws of quantum mechanics to solve problems that are beyond the capabilities of even the most powerful traditional computers. Think of it this way: classical computers use bits, which can be either a 0 or a 1. Quantum computers use qubits,which can be both 0 and 1 together. This “superposition” allows them to perform calculations at an exponentially faster rate.



**Brad Carr:** It sounds almost magical! Now, you mentioned that quantum computing can solve problems that are currently intractable for classical computers. What are some specific examples of these problems, and in what industries might we see the most meaningful impact?



**Steve Suarez:** Excellent question. One area with huge potential is the space economy. Quantum simulations could lead to breakthroughs in propulsion systems and the advancement of new materials that can withstand the rigors of space travel.



We also see a lot of promise in climate-resistant agriculture. Quantum models could predict weather patterns with unprecedented accuracy, helping farmers optimize crop yields and adapt to a changing climate.



**Brad Carr:** Those are some truly compelling applications. You’ve been involved in guiding technology strategies for major companies, especially in the finance sector. How do you see quantum computing reshaping industries like finance and banking in the coming years?



**Steve Suarez:** quantum computing could revolutionize finance in several ways.For instance, it could dramatically speed up risk analysis and fraud detection. Imagine being able to analyze vast datasets in real-time to identify fraudulent transactions or assess the potential impact of market volatility.



**Brad Carr:** Quite a shift from today’s practices! Now,quantum computing is still a relatively nascent technology. What are some of the hurdles we need to overcome before we see its full potential realized?



**Steve Suarez: ** You’re right, we’re still in the early stages. Some of the biggest challenges include building stable and scalable quantum computers, developing effective quantum algorithms, and securing the necessary expertise to develop and implement quantum solutions.



**Brad Carr:** To help track progress and foster collaboration in this field, a new initiative has been announced – the Quantum Innovation Index. Can you tell us a bit more about that?



**Steve Suarez: ** The Quantum Innovation Index is a crucial tool for understanding the rapidly evolving landscape of quantum computing. It provides a comprehensive assessment of progress, helping to guide investments, spark collaborations, and ultimately accelerate the development of this transformative technology.



**Brad Carr:** This has been a truly insightful conversation,Steve. Thank you for sharing your expertise with us.



**Steve Suarez:** My pleasure, brad. It’s an exciting time to be part of this journey.



**Brad Carr:** For our listeners who want to continue exploring this fascinating topic, we’ll include links to Steve’s work and the Quantum Innovation Index in the show notes.



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Let me know if you would like me to elaborate on any specific aspect of the interview- Quantum Computing submission, specific challenges, or the Quantum Innovation Index.