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Quantum computing is neither dead or alive

by on05 September 2022


Oxford quantum physicist dismisses it as a financial bubble waiting to burst

Oxford quantum physicist Nikita Gourianov has dismissed the quantum computing industry as a financial bubble waiting to burst when people realise that the tech is not ready yet.

Penning a snotogram in the Financial Times Gourianov said that what is being talked about is more hype than substance. 

Despite billions of dollars being poured into quantum computing, Gourianov argues, the industry has yet to develop a single product that's capable of solving practical problems.

He pointed out that firms are collecting orders of magnitude more in financing than they're able to earn in revenue — a growing bubble that could eventually burst.

"The little revenue they generate mostly comes from consulting missions aimed at teaching other companies about 'how quantum computers will help their business,'" Gourianov wrote for the FT, "as opposed to genuinely harnessing any advantages that quantum computers have over classical computers."

He said that contemporary quantum computers are also "so error-prone that any information one tries to process with them will almost instantly degenerate into noise," he wrote.

It is a problem that bofins have been trying to overcome for years and not managed.  Likewise are the fears that quantum computers will crack even the securest of cryptographic schemes.

On this subject his rant comes a few weeks after a group of researchers found that a conventional computer was indeed able to rival Google's Sycamore quantum computer, undermining the tech giant's 2019 claims of having achieved "quantum supremacy."

"The quantum computing industry has yet to demonstrate any practical utility, despite the fanfare," Gourianov wrote. "Why is then so much money flowing in? Well, it is mainly due to the fanfare."

The money, he argues, is coming from investors who typically don't have "any understanding of quantum physics," while "taking senior positions in companies and focusing solely on generating fanfare."

Gourianov believes it's only a matter of time until the "bubble will pop" and the "funding will dry up."

 

Last modified on 05 September 2022
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