Google is ending 2024 on a high note, with its stock surging and investor confidence returning. While AI advancements play a role, the company's dedicated efforts in quantum computing are driving its success.
In a remarkable turnaround from a challenging year marked by intensifying AI competition that threatened its dominance in internet search, Google is closing 2024 on an optimistic note. The tech giant’s stock has surged nearly 14% over the past month, rebounding from previous quarterly lows.
While the company is busy releasing substantial enhancements to its AI offerings, much of its recovery and recent rise in investor confidence can be attributed to its focused initiatives in quantum computing that are finally gathering steam and will continue to drive its success in coming years, according to Technology Foresights, an innovation intelligence platform by GlobalData. In November 2024, Google unveiled Willow, a groundbreaking quantum computing chip that reportedly accomplishes a standard mathematical benchmark test in under five minutes – a task that would take today’s most advanced supercomputers approximately 10 septillion (10^25) years to complete. While these results reflect Google’s strategic focus on quantum computing, they are backed by consistent progress in the field. According to GlobalData’s signals, the company’s patent filings in quantum computing have grown steadily at 20% year-over-year for the past few years. This commitment is further evidenced by a sharp increase in quantum computing talent acquisition, with Google’s hiring in this specialized field surging 64% in 2024 compared to the previous year. Sourabh Nyalkalkar, practice head of innovation products at GlobalData, comments: “Analysis of Google’s quantum computing patent portfolio through Technology Foresights reveals the company’s comprehensive approach to developing fundamental components across the quantum computing value chain. “The innovation leadership map identifies more than 15 critical areas where Google maintains active research and development efforts
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