Barron’s just reminded us of the potential quantum computing may have.
In fact, they note: “It’s easy to see the allure. IDC last year estimated that the market for quantum computing services, mostly delivered by the cloud, could grow to $8.6 billion in 2027, up from $412 million in 2020, a compound annual growth rate of more than 50%. More tantalizing is a 2021 report from Boston Consulting Group that put the potential value creation from quantum computing at $450 billion to $850 billion—with $90 billion to $170 billion of that flowing to the quantum industry players.” While you can read Barron’s take on it here, here’s what we’ve noted in the past.
Earlier this year, a team of Australian researchers proved that near error-free quantum computing is possible, which could help the world solve extremely complex problems in just seconds. In fact, “Today’s publication shows our operations were 99 percent error-free,” says Professor Andrea Morello from the University of New South Wales-Sydney, in a press release.
“When the errors are so rare, it becomes possible to detect them and correct them when they occur. This shows that it is possible to build quantum computers that have enough scale, and enough power, to handle meaningful computation.”
Better, a team in the Netherlands also reached the 99% accuracy threshold using qubits. Even a team in Japan broke the 99% threshold barrier. That means a quantum computer could solve a complex problem in seconds. Meanwhile, it would take a computer a few months or even years to solve the same issue.
Plus, according to IBM, Quantum computers have the potential to transform industry value chains, particularly in the areas of chemistry, biology, healthcare, materials science, finance and artificial intelligence (AI).”
Quantum computers could help speed up drug discovery and development.
According to Forbes, “With their extremely high processing power, these machines will be able to simultaneously review multiple molecules, proteins and chemicals through quantum simulation — something currently unachievable with a standard computer — allowing drug options to be developed faster and more effectively than today.”
It may even be able to help develop quicker treatments for cancer, COVID, the common cold, even Alzheimer’s. It could even help reduce the need for human and animal testing. Quantum computing may even help speed up financing and data speed. It may even be able to help with climate change issues, and the potential discovery of CO2 catalysts. The list goes on. That being said, investors may want to keep an eye on Defiance Quantum ETF (QTUM), Quantum Computing (QUBT), IonQ Inc. (IONQ), Rigetti Computing (RGTI), and D-Wave Quantum (QBTS) to name a few.