Quantum Computing - How Businesses Benefit?

Image's Source:  Pixabay

You know that businesses around the world are well positioned to benefit from AI enabled qubit-based quantum computing technology which can calculate the complex structured, semi-structured, and unstructured thousands of petabytes of data in just few seconds or minutes which will provide companies and other institutions unimaginable operational power and increase their level of efficiency manifolds. 

Quantum computing will help companies and other institutions in different areas such as reduction in considerable operating costs, prediction about optimum utilization of resources, forecasting about maximization of revenue streams, increasing sales, managing optimal level of inventory, and raw materials.

Qubit-based computing will help enterprises in building confidence, trust, and corporate brand image on local and international scale. 

This technology will enhance staff productivity and efficiency, reduce wastages in production, detect anomalies in machines and equipment, and more importantly, it can track with zero errors preferences, choices, disliking, and buying behavior of customers for making informed strategic business decisions.

In the perspective of huge level of complexities, uncertainties, and unpredictability found in today's fast changing modern world and the unlimited space that is beyond of earth, quantum computing is the right answer for solving all modern social, business, economic, and astrophysical problems.

Business and Social Impacts

In today’s fast changing modern, vibrant, and technology driven world where companies, government institutions, big corporations, private enterprises, stocks exchanges, airlines, logistics, transportation, hospitals, pharmaceutical companies, modern cities, newspapers, social media, search engines, e-commerce, industrial complexes, manufacturing concerns, educational institutions, banks, financial institutions, and this list goes on, so, these institutions combining tend to generate approximately more than 330,000 petabytes of data everyday currently, and this trend is expected to increase exponentially in future.

The above cited huge computations, considerable daily digital activities, and massive volumes of data which today’s classical transistors-based computers will not be able to handle in recent future, so, human societies need to replace this technology through quantum computing which is super faster which you cannot image at this point of time.

To handle huge volumes of data in near future, it is high time for all civilized human societies to invest, develop, and introduce qubit computing in the business setups, government, and social institutions to maximize economies of large scale for meeting urgent demands for fast growing populations, delivering high quality services, achieving improved social indicators, and ensuring fulfilled lifestyles of common people.

Technology of qubit computer is based on building multidimensional spaces or millions of probabilities of the given problem(s) for handling huge volumes of associated data which will ensure accurate calculations and predictions in just few seconds or minutes which today’s transistors-based supercomputers cannot perform and will complete such huge computations in hundreds or even thousands of years.

According to the study of Business Insider, the quantum computing market size is expected to touch around US$ 64.98 billion by 2030, this expected penetration level of this computing technology will open the gates for series of progress worldwide from which human societies will benefit.

Business Advantages

Quantum computing, artificial intelligence, machine learning, deep learning, cloud computing, internet of things, and 5G wireless technology combining will revolutionize the world, companies, and institutions, so, qubit computing technology will help companies and institutions in achieving maximum efficiency and enhanced productivity in their different areas.

Qubit-based computing will support companies in lots of areas such as curtailing operational costs of doing business, predicting optimum revenues, increasing sales, management of inventory and raw materials at optimum points, formulating best pricing models for products and services, forecasting positive cash flows, monitoring of assets, detecting anomalies in machines and equipment.

This technology will help in controlling temperature and humidity at production sites with face recognition facility, and more notably, it will provide unbelievable high computing speed in the areas of finance, management, sales, marketing, production, purchase, human resources, administration, risk management, logistics, and many more areas.

Today’s supercomputers cannot calculate huge amounts of data in few minutes, so, big companies cannot formulate appropriate sales, production, administrative, discounting, and marketing strategies, so, as a result, they find difficulty to know about accurate preferences, choices, and disliking of their customers to make correct pricing for products, services, and exclusive offerings. 

Large business conglomerates cannot make insights from big data, therefore, it becomes essential to invest, promote, and introduce quantum computing technology as quickly as possible.

Projects are under progress to develop qubit computing and initial quantum computers for which giant technology players have been developing, designing, and working on qubit-enabled computing technology which includes Google, IBM, Microsoft, and Amazon. 

Once introduced qubit computing, companies and other institutions can get qubit computing facilities through cloud services at initial stages, because hardware of qubit computer needs zero degree temperature to work with for which this level of facility at homes and offices will be impossible at initial stage.

Big Data - Challenges for Businesses

In today’s technology-oriented modern world where huge volumes of thousands of petabytes of structured, unstructured, and semi-structured data which global societies combining generate every day.

The massive digital computing and useful informative Big Data packets manifest hidden patterns and exclusive insights which companies and responsible members of societies can decode through the quantum computing-based algorithms which can compute tons of data values in just few seconds or minutes which today’s binary-based fast supercomputers will take months or even years to perform huge computations.

Quantum computing provides special guarantee in handling huge volumes of data which global human societies produce through various business, government, social, and economic agents on exponential rate on daily basis.

Providers and contributors of huge digital information or data include enterprises, big multinational companies, investment banks, financial institutions, commercial banks, stock exchanges, airlines, media houses, industrial complexes, manufacturers, government institutions, hospitals, airports, shipping companies, transportation, digital websites, logistic providers, search engines, social media platforms, hospitality, various individuals, and this list goes on.

Once fully developed, implemented, introduced, and revolutionized, the quantum computing powered by Qubit enabled AI predictive models will perform speedy computations and information gathering in just few seconds or minutes, so, helping companies in making correct business decisions within no time.

Quantum computing will save valuable time of enterprises in making future forecasting in all segments of their business. It is an established fact that in the corporate world time is considered money!

Ability to Recognize Patterns

Quantum computers will perform powerful computing of large volumes of business and social data in few minutes which today’s traditional computers can take months or years to calculate.

In today’s fast-paced technology-oriented world, there are plenty of structured, semi-structured, and unstructured datasets and clusters of data that are generated on daily basis through commercial, business, institutions, and various social activities, so, such types of huge volumes of data can be quickly mined, analyzed, and recognized similar patterns to make informed strategic decisions using technology of qubit-based computing.

Applications

Quantum computing that is based on unit of qubit will compute millions, billions, and trillions of complex probabilities in just few seconds or minutes, so, such kinds of computations are impossible from today’s transistors based conventional supercomputers.

World is changing with the passage of time with much more new developments, technologies, complexities, challenges, so, from the vast penetration of quantum computing on global level, following businesses, government-based institutions, educational, social institutions, and people will get benefits:

• Computer software and hardware developers
• Aviation Industry
• Scientific Laboratories
• Weather Prediction
• Medicine
• Research based institutions
• Educational institutions
• Financial institutions
• Manufacturers
• Driverless vehicles
• Institutions based on Space Mission
• Satellites
• Pharmaceuticals
• Smart cities and management of traffic flows and many more areas

Hope you have enjoyed this article, but we would love to have your valuable opinion.