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Industry Beneficiaries of Quantum Computers

Photo Credit: MIT Technology Review

When it comes to charting the business benefits of quantum computing and technology, we are in unchartered territories. Multiple sources believe that quantum computers in the near-term will likely expand the development of new breakthroughs in science and technology. Some say that quantum computing fueled outputs are likely to: aide the development of medications to save lives, create new materials as well as help us understand some areas of science. In addition, the use of advances in quantum computers will likely enable machine learning methods that fuel artificial intelligence applications that reduce business errors. They are also likely to create intelligence systems that diagnose problems and illnesses in their earlier stages. Finally, QCs are likely to assist in the development of new approaches and techniques to make more efficient sensors, IoT devices and structures – some due to quantum computing and nanotechnology working together. Those are just a few of the anticipated benefits of quantum computing and technology that the world will begin to see shortly. So, quantum computing and technology have a bright future.

Researching and looking at the vast array of projected applications of quantum computing is quite an eye-opening experience. After consideration of publicly available materials, here are the ten industries that are likely to see the greatest impact in the next few years. Please note, they are listed in alphabetical order.

  • Aerospace
  • Automotive
  • Chemical
  • Defense
  • Energy
  • Finance
  • Healthcare
  • Insurance
  • Life Sciences
  • Logistics
  • Manufacturing
  • Pharmaceutical
  • Security
  • SMART Cities Planning
  • Technology/Software

That is a very broad swath of industries you must admit. Far broader than many analysts had projected a short time ago. In August 2020, Investor Place published an article that stated, “At scale, quantum computing will disrupt nearly every industry in the world, ranging from finance, to biotechnology, to cybersecurity, and everything in between.” Add to that the management consulting firm, EY has put forth an interesting strategic quantum computing and technology question. They asked, “Could quantum computing be the technology that drives your quantum leap forward?” They went on to state that, “When quantum computing reaches its tipping point, companies and governments need to be ready for new opportunities and possibilities.

As the anticipated benefits of quantum computing and technology become much more widely discussed, increased adoption will occur. The actual applications for quantum computing and technology continues to develop as the technology moves ahead. It is highly likely we will shortly see a quantum computing use case book similar to “The Big Book of Data Science Use Cases” that was created to support the inter-disciplinary field that seeks to extract knowledge from data. Some professionals have begun to look to establish their own ‘quantum’ role. All of this has an increasing number of people begin to ask, “How do I start a business career in quantum computing?” That is a quite challenging question and one that is tough to answer. The answer must address the technical and scientific aspects, at least at a high level, as well as the business aspects which have limited information available today. First of all, there are many sources of educational organizations that have begun to formalize curriculums and offer quantum technology related degrees and continuing professional education programs. In addition, there are an increasing number of quantum computing and technology conferences, both in the physical and virtual venues that include a fair amount of quantum content. Another important area to monitor is the number of new entrants into quantum computing. To really monitor this, you must also look at venture capital investment as well. The Quantum Daily strives to be the leading source in the delivery of the information that helps you achieve your quantum knowledge requirements.

The tipping point is rapidly approaching. There are far-reaching implications of the continued evolution of quantum computing and technology. This is not just about leveraging quantum computing and technology to become the leader in your industry. Although, that is a possibility. It’s much more about keeping pace with innovation within and, the evolution of your industry and emerging technologies. It is time to explore the business value quantum computing and technology could provide you and or your organization. It is quite likely the real value will come from the use of quantum computing and technology, that has the potential for the disruption of multiple industries as well as dramatic impact on a subsection or subsections within the industry category. That demands action from employees all the way up to the C-suite leaders and Boards that want their organization to be ready and begin preparing for the likely disruption of another technology revolution. To be prepared, individuals and organizations have to remain up-to-date about the quantum computing and technology era of tomorrow, that demand they take action today. Their action must include quantum computing and technology in their strategic planning of today. Major quantum computing and technology business application breakthroughs will likely begin shaking up multiple industries in the not so distant future. My estimate is within 3-years. One thing is for sure, professionals and organizations don’t want to fall short and be pushed aside as quantum computing and technology becomes a critical business tool.

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Kevin Coleman

Quantum technology continues to advance. They have become to mature and they have begun to create unique and innovative capabilities. Clearly this is one of the contributing factors that has projected quantum technology to experience a double-digit compound annual growth rate at least through 2025! That is a major driving force behind my Quantum technology webinar that has now been viewed by 3,600 professionals. They have rated the webinar as a 4.42 on a scale of 1 = low to 5 =being high.

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