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MarketWatch: Quantum Computers’ Power Will Remake Competition in Industries from Technology to Finance

By IQT News posted 29 Dec 2020

(MarketWatch) Quantum computers, once fully scaled, could lead to breakthroughs on many fronts — medicine, finance, architecture, logistics.
Large companies working on quantum computing in their respective industries include AT&T T, 0.31%, Google holding company Alphabet GOOG, -0.35% GOOGL, -0.39%, IBM IBM, -0.39% and Microsoft MSFT, 0.44%.

Here are a few industries that could benefit the most:

Quantum chemistry
Quantum chemistry, also called molecular quantum mechanics, is a branch of chemistry focused on the application of quantum mechanics to chemical systems.

Quantum cryptography
Quantum cryptography, also known as quantum encryption, employs principles of quantum mechanics to facilitate encryption and protection of encrypted data from tampering.

Quantum finance
Quantum finance is an interdisciplinary research field that applies theories and methods developed by quantum physicists and economists to solve problems in finance.

Quantum artificial intelligence
Although still in the domain of conceptual research, principles of quantum mechanics will help quantum computers achieve a markedly greater speed and efficiency than what is currently possible on classical computers when executing AI algorithms — this goes especially for machine learning.

Weather forecasting
Current computational models used in weather forecasting employ dynamic variables, from air temperature, pressure and density to historic data and other factors that go into creating climate prediction models.
To predict extreme weather events and limit the loss of life and property, we need faster and more robust forecasting models. By harnessing the power of qubits, quantum computing is capable of providing necessary the raw processing power to make that happen. Furthermore, machine learning provided by the quantum AI can additionally improve these forecasting models.

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