What is a quantum economic advantage?

quantum economic advantage (noun)

A benchmark for determining when a problem can be solved more quickly with a quantum computer than with a comparably priced classical computer.

Quantum computing applies the laws of quantum mechanics to simulate and solve complex problems that are too difficult for today’s standard computers. 

But that leveled-up problem-solving comes with a trade-off: While quantum computers can run more efficient algorithms and take a more direct path to accomplishing a task, they also have slower processing speeds. Classical computers tend to take a more indirect path but generally operate faster than quantum computers.

“Think of it like a race in getting from point A to point B, and the algorithm is the route,” said Neil Thompson, a research scientist at MIT Sloan and the MIT Computer Science and Artificial Intelligence Laboratory. “If the race is short, it might not be worth investing in better route planning. For it to be worth it, it has to be a longer race.”

To help businesses and technology leaders determine whether quantum or classical computing is more cost-competitive for a particular task or problem, a group of MIT researchers that included Thompson partnered with Accenture to develop a decision-making framework.The framework asks leaders to consider two conditions: feasibility (meaning whether a quantum computer exists that is sufficiently powerful to solve their particular problem) and algorithmic advantage. The overlap between the two is the quantum economic advantage.

Quantum computing: What leaders need to know now