Despite many promises, quantum computing researchers have yet to develop algorithms that enable quantum hardware to outperform classical computer systems in a useful way.
The European Commission’s view, as outlined in its quantum strategy, is that both quantum hardware and software are still not mature. According to their assessment, it will take another 10 to 15 years to bring the technology to market using conventional methods.
However, some experts believe that introducing market-like competition could accelerate progress in this field. This motivation has led to the creation of the XPrize Quantum Applications prize, a $5 million international competition aimed at developing quantum computing algorithms for real-world use.
On 17 October, the competition announced its 20 semi-finalists, all hopeful of generating powerful quantum algorithms that could pave the way for practical quantum computing applications.
https://sciencebusiness.net/news/r-d-funding/quantum-computing/prize-make-quantum-technology-useful
