What Quantum Computing Can Do for Humanity — and South Chicago

Sitting in a swivel chair in a hotel conference room, Victor Peng stares out the window at the Chicago River with a look of amazement. The 66-year-old CEO of PsiQuantum, the anchor tenant of the planned 128-acre Illinois Quantum & Microelectronics Park in South Chicago, has been at the forefront of technological innovation for more than 40 years. Previously the CEO of Xilinx, he was a leading figure in the semiconductor industry, which has been a monumental force in the advent of AI. But even he is surprised that the realization of quantum computing is nearly here.

“More than a decade ago, I remember talking to my chief technology officer and asking about quantum,” Peng says. “You know, ‘Are we getting close?’ He said, ‘We should keep an eye on it, but we’ve still got some time.’ And lo and behold, it’s about time.”

By leveraging quantum mechanics, this type of computing accelerates processing speeds and technological progress exponentially. And South Chicago could be ground zero for it, as PsiQuantum, based in Palo Alto, California, plans to build what it describes as the “first commercially useful quantum computer” there.

Twenty years ago, I couldn’t have foreseen that my phone would be able to do everything for me. What kind of impact will quantum computing someday have on our daily lives?