How might quantum computing affect the future of business?

How Quantum Computer Affect the Future of Business? | The Enterprise World

Quantum computers and accelerated discov” (CC BY-ND 2.0) by IBM Research

“Quantum supremacy” is a phrase that many tech enthusiasts are throwing around at the moment. But, what can quantum computing actually bring to the table? And, after it becomes accessible, how might it impact businesses? Let’s take a look. 

Quantum computing now

In the past, the idea of quantum anything has conjured up images mystical in nature, due to the paradox that is quantum physics. Put simply, whereas in traditional physics something must be either one state or another, in quantum physics it can be two states simultaneously, known as quantum superposition. As this cannot be explained by current levels of knowledge – something even Albert Einstein called “spooky action at a distance” – the quantum realm has inspired a wide range of mystical media. From TV shows like Quantum Leap to blackjack games at Betfair like Live Quantum Blackjack Plus, these narratives play upon the unpredictability, enigma, and incomprehensibility of the quantum realm. 

How Quantum Computer Affect the Future of Business? | The Enterprise World

It is no surprise then that quantum computers are essentially prototypes that can tell us what such a machine could be in the future. These computers take advantage of the laws of quantum physics by using quantum algorithms and quantum bits through which an element can behave both as a wave or particle simultaneously. As traditional computing is limited to elements being labeled as either a 1 or 0 in binary code, which is then transmitted by turning electrical signals off and on, quantum computers can essentially do twice as many calculations when provided with the same data. 

Though there are still ways to go before quantum computing is efficient – nevermind accessible – the progress that the industry is seeing is staggering. Due to this, confidence in quantum computing is steadily growing, with the quantum computing market expected to reach $4.85 billion by 2030, according to GlobeNewswire. That’s a compound annual growth rate of 31.3%. 

Quantum computing in the future

As more and more research and investment are being thrown into the ring, researchers are increasingly confident that quantum technology will one day be able to be utilized by the typical business. As quantum computers are able to make calculations exceedingly faster than traditional computers, this could have a profound impact on efficiency, speed, productivity, and accuracy in a multitude of different sectors, including innovations like advanced automation and pattern-matching technologies. 

How Quantum Computer Affect the Future of Business? | The Enterprise World

Arguably one of the most fruitful potential applications is in data analytics. Insights from analytics can be leveraged in various departments, from marketing to HR, financial services to IT. Though traditional computers are able to perform basic data analysis, the one place that they fall short is when it comes to topological analysis, which is essentially the use of manipulating shapes to infer behaviors. This is a lot more complex than typical data analysis, and, as such, traditional computers are not able to carry out such calculations. On the other hand, quantum computers should be able to analyze the data using a series of basic calculations. 

In fact, the idea that this method of data analysis could be made efficient is so exciting that NASA is looking into how they can use quantum computers to analyze data they have collected to understand more about the universe. It is their hope that quantum computing can help them to find ways to streamline their research and keep astronauts safer in the future. 

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