The Economic Implications of Quantum Computing

Quantum computing isn’t even out of the logic gate–nerd humor is free here–so it’s hard to exactly measure the impact of the technology on the economy.

When you say “quantum computing uses,” the first  sector mentioned is security, specifically encryption. Bank and finance companies would pay a high premium for technology to better protect accounts and transactions. The government would pay a premium to send encrypted messages.

But that’s where the speculation typically ends.

But, that’s just the beginning. And maybe not even the best place to start. Quantum information technology has unlimited potential to improve–or actually transform–nearly every industry.

But the best place to start is to examine where quantum computing would have the most impact is to look at where so-called “supercomputers” are in demand. The initial wave of QC tech will most likely compete in this space.

Biotech and medical researchers use massive amounts of supercomputing technology and techniques–mainly to model molecular changes and to analyze reams of data. Quantum computers–probably the best way to model molecules and even quantum states–would likely find a place in this niche.

Nanotechnology is essential to quantum physics and vice versa. The industry could unleash new potential with quantum computers.

The energy industry is another place where I expect to see QC tech uses.  Companies that specialize in both reusable and non-reusable sources will look to quantum computing to find new sources of energy and improve their current energy tech. That could include everything from analyzing geological data for oil exploration, or improving the designs of wind turbines.

Finance. For the past dozen years or so, Wall Street has raided the ivory tower for physicists that have turned into Quants.

So what would this add up to?

Figuring out what the market size of these industries can help give us an estimate that supercomputing is a multi-trillion-dollar market.

And that’s a conservative, scratching-the-surface type of estimate.

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