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Quantum Computing Takes Important Step with First Public Company

IonQ, a leading quantum computing company, discusses its finances with IQT News
By IQT News posted 15 Mar 2021

(VentureBeat) This week saw the first step towards a public quantum computing company with IonQ’s SPAC merger. IonQ should be applauded for its technical achievements that underpin this agreement.
We’ve seen numerous significant advancements in quantum hardware and software that get us closer to realizing quantum computing’s promise. It is now possible to see a path towards quantum advantage where quantum computers can solve significant problems beyond classical computers’ capabilities. We can see a future state where quantum computing can advance science and industry in new ways, including simulating new materials for batteries, superconductors and more.
There are three critical caveats about quantum computing that we must address:
1. Quantum computing will not replace classical computing.
2. Quantum computing is not immediate.
3. Quantum computing isn’t for every use case.

The author of this opinion article is Ashley Montanaro, Co-founder of UK quantum startup Phasecraft and Professor of Quantum Computation at the University of Bristol.  He knowledgeably explains, “As a co-founder of a quantum software startup and a leader at one of the most prestigious universities developing the theory and technology of quantum computers, I see the need for a robust ecosystem for quantum computing. Careful investment is critical to realize the potential and promise of quantum computing and its decades-long journey.”

Montanaro concludes, “Although we have not yet reached the point of quantum advantage, leading companies in fields as varied as materials, pharmaceuticals, and finance are setting up teams to work with quantum computing and evaluate its potential to transform their businesses. Given the first-mover advantage that could accrue to those who can best take advantage of this revolutionary technology, now is the time for executives to make this assessment. Engaging deeply with the scientific and technical experts could pay huge dividends.”

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