The competition will last three years and calls on scientists to develop new quantum algorithms. Winners will be able to submit their project that solves an existing problem (for example, creating an electrolyte for batteries with increased capacity).
It is not necessary to solve the problem in practice, but to show how the algorithm can be implemented by determining the exact properties of quantum computing. Participants can also demonstrate how an existing quantum algorithm can be applied to a real-world problem that has not been considered before.
A total prize fund of $5 million will be distributed among the winners, runners-up and semi-finalists. This move could shift the focus of quantum computing researchers from technical definitions of quantum advantage to real-world applications. But finding socially useful quantum algorithms will require a better understanding of how quantum computers work, including managing noise and errors.
Source: Ferra
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