Lu Chaoyang, executive dean of the Shanghai Institute for Advanced Studies at the University of Science and Technology of China, addressed the current state of quantum computing at the 2026 Inclusion Bund Conference on September 10. He emphasized that quantum computing is not a universal accelerator like a GPU but is effective only for specific tasks.
The expert highlighted that quantum computing is primarily suited for molecular and material simulations. From a strategic perspective, its most significant potential lies in information security, specifically the ability to break RSA and elliptic curve encryption, which poses risks to the financial and security sectors.
Lu criticized the marketing claims made by some domestic quantum companies. He noted that while top research teams are still searching for viable algorithms, some firms falsely claim to use quantum computing for drug development, financial services, or even pig farming, which he described as absurd.