Quantum Computing: Business Applications
Updated: Sep 12
Computing is a part of everyday life and fundamental to how businesses operate, but with quantum computing, new applications and heights can be reached, providing unprecedented business insights and opportunities.
Quantum Computing: An emerging technology
Across many conferences worldwide, including CES 2021 the most influential tech event in the world, Quantum Computing has been a hot topic and major point of interest for leading technology corporations.
But what is all the buzz about? According to IBM, quantum computers hold a lot of promise as an emerging technology as the new heights of computation can lead to tremendous breakthroughs across many industries.
Applications of Quantum Computing
The power and possibilities unlocked by quantum computing is what is making it so attractive to corporations. The MIT Technology Review states that one of the most exciting capabilities of quantum computers is the fact that they can simulate how matter behaves, even at the molecular level.
With the ability to track molecular behaviors and patterns, quantum computing will soon be applied to numerous industries. From the creation of new medication, to rapid disease diagnosis, to efficient material manufacturing and financial strategies, a world of new insights will be opened to businesses across various industries.
Just a few days ago, Google’s Quantum AI division and Boehringer Ingelheim announced that they will be partnering in an effort to develop new medicines using their quantum computing approach, driven by the new possibility of modeling even more complex molecular dynamics. The collaborative relationship marks the first time that Google has teamed up with a pharmaceutical company for the purpose of applying quantum computing.
Quantum computing can also be applied to cellular physiology, in order to study the effects of drugs. Blueshift Bio, a Marlborough Capital portfolio company, is working on unlocking the potential of quantum computing through it's novel drug delivery techniques that use natural compounds to target specific cells in the body.
With the potential to model matter on the molecular level, many companies in the medical and health sector will be able to advance their insights and understanding of current matters of disease and treatment, ultimately unlocking more market opportunities.
While drug development will benefit from quantum computing, as a result of the greater modeling capabilities for simulation, as will current manufacturing practices. According to IBM, quantum computing has the potential to shape quantum manufacturing through capturing molecular interactions in material science.
As a result of this, many industries will benefit from improved parts and components, as quantum computing might be able to improve the foundation of the automotive, electronics, and aerospace industries, to name a few. Imagine materials with improved strength-to-weight ratios or energy modeling that improves carbon capturing or novel batteries that can hold much higher energy densities.
According to the MIT Technology Review, several companies in the transportation sector have begun applying quantum computing to engineering components.
For example, car manufacturers like Volkswagen and Daimler are exploring how electrical-vehicle batteries’ chemical composition can be simulated through quantum computing in order to pinpoint new structures to enhance longevity and efficiency.
In addition to reviewing batteries, Volkswagen is working on a service for buses and taxis that can automatically calculate the most optimal route as a means of minimizing city-wide traffic congestion levels. Similar to this, Airbus is using quantum computing to calculate and identify the most fuel-efficient paths for an aircraft to take current ascent and descent.
The Future of Quantum Computing
Although quantum computing is an emerging technology that many companies are pursuing, the technology is not there just yet. Estimates indicate that it may take a few more years for the full potential to be unleashed. Nevertheless, if this new realm of computing reaches its projected potential, it’s expected to spark innovation worldwide and transform industries.
Whilst traditional computing as we know it is here to stay (at least in the short-term), quantum computing will turn industries upside down and lead to efficiency gains that were once deemed impossible.