Quantum Computing transforming the world!

“Quantum Computation is… a distinctively new way of harnessing nature …It will be the first technology that allows useful tasks to be performed in collaboration between parallel universes”- David Deutsch.  

Quantum computing is certainly revolutionizing our capabilities with their qubits to encode exponentially more information than bits. Quantum computing has become mainstream followed by many new technologies that’s why many companies like IBM, Microsoft and google are competing to build reliable quantum computers. India too has announced its partnership with Finland to work towards quantum computing. According to a report, the quantum computing market is currently reaching $2,545 million by 2029. In this blog we will go through into the ways, it is impacting and transforming our world.

• With its high processing ability, quantum computer has become an efficient tool for pharmaceutical companies (who are discovering new drug or medicine) for predicting behavior and chemical reactions of a drug rather than using a physical laboratory. As we think about the impact of Covid-19, the benefits of quantum computing are visible to everyone now.
• Many countries are working on replacing petrol and diesel cars to reduce our dependence on fossil fuels with the focus on electric mobility. Like pharmaceutical field, quantum computers can be used as a virtual lab to mature battery technology and better way to screen battery material.
• Many computing companies such as IBM, Google, Honeywell, and D-Wave are continuously working on creating Quantum devices providing Quantum-as-a-service offerings on cloud-based platforms. Oxford Quantum Circuits launched the UKs first QaaS platform in July offering primary commercial quantum computing.
• Major Finance companies are looking for the possibilities that quantum computing may bring and are studying how can it be applied on financial instruments such as stocks.

Source: (https://www.riverlane.com/news/2021/03/how-will-quantum-computing-change-the-world/)

(https://investmentmonitor.ai/tech/five-ways-quantum-computing-will-change-the-world

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