There is a huge gap between basic physical laws and predicting many particle systems from first principles. It will be so amazing if we can predict most properties of many particle systems (from mass of an atomic nuleus to density/conductivy/bandgap of a material to properties of any small or big molecule) from first principles with high precision at low cost.
From Google's desclared "quantum supremacy" news I hear that they can be applied to computational physics too. But from "Quantum simulator" in Wikipedia, I feel that this still only applies to a very narrow types of problems , and we still can never close the gap to amazingness.
What is the current research advance and is there a hope to close the gap?
Note: The question is more a physics question, but physics site doesn't accept this type of question so I moved it here.