(CNN) Honeywell is now rolling out a powerful quantum computer that it says will be even more powerful than those built by big names such as Google (GOOGL) and IBM (IBM).
Experts say quantum computers could eventually solve complex problems that are a challenge for today’s computers, such as financial options pricing or developing new pharmaceuticals. That potential represents major opportunity for Honeywell, which works in a range of industries from aerospace and defense to oil and gas (it spun off the thermostats two years ago).
The company combined technology expertise from its various areas of business — including high vacuum systems and precision control electronics — to develop the computer. Honeywell also invested in two quantum software development firms that will work with the company and its quantum customers. “We wanted to be able to shape how quantum computing gets used,” Tony Uttley, president of Honeywell Quantum Solutions, told CNN Business. “We actually want to be our own best customer in this.”
Honeywell is already working on quantum computing solutions for its aerospace and materials development businesses, Uttley said.
Quantum also opens up opportunities outside of Honeywell’s expertise, such as a partnership with JPMorgan.
Competition in development is fierce. Last year, Google spurred excitement and controversy when it proclaimed “quantum supremacy” with a machine that it said could solve a calculation in seconds that would take a traditional computer thousands of years, a claim IBM pushed back on.