Exploring the Potential of Quantum Computing for Revolutionary Problem-Solving and Computational Advancements

Quantum computing is a model of computing a new approach to perform and solve computational problems and comes up with amazing advantages such as exponential speed-up of specific tasks that lead to a revolution of industries. In this study, Quantum Computing potential is discussed in multiple fields - drug discovery and optimization, and quantum machine learning contrasted with traditional methods based on the running time, accuracy, and scalability of quantum and classical algorithms. Applying several quantum algorithms to molecular simulation, optimization problem, and image classification data sets, quantum algorithms solved problems with at least 70% less number of iterations and at worse the same accuracy as classical methods. For instance, researchers noted that quantum neural networks performed better than classical networks in image recognition. The quantum algorithms in this study were implemented and simulated using IBM Qiskit, D-Wave's Ocean SDK and TensorFlow Quantum. Based on the literature reviewed; it was established that quantum computing has potential to revolutionalise endeavours in drug design, cryptography and artificial intelligent applications. While there are issues in qubit stability quantum decoherence, errors and other related complications, it is predicted that all these problems will be solved by qubit stability and quantum error correction shortly and therefore, realistic, scalable quantum systems are in the next few years. Further research is required on the quantum technology one which may bring a revolution in the way different industries solve their problems.