With the recent news that Quantum computing startup Rigetti has gone public, it is evident now more than ever that the Quantum technology industries are here to stay.
Governments, institutions and organisations are all joining in on the effort to advance Quantum. We estimate that Quantum investment from January to July 2021 sits at 24.4b USD. That is an increase of almost 2b USD from the year prior - and 2021 isn’t over yet!
We will see the effects of the research and development being conducted by companies like Rigetti within the next decade.
But what impact will that have on us?
The First Quantum Revolution
To understand the impact that the second Quantum revolution will have on us, we can look back to the first Quantum revolution.
During the 20th century, leading scientists, such as Einstein, took the first steps into Quantum mechanics. The research conducted during the 20th century led to the development of lasers and semiconductors.
Over time, semiconductors and lasers turned into GPS, MRI, computers and all the modern technology we use today.
It’s fair to say that our lives would be fundamentally different without the first Quantum revolution.
The Power Wall
All good things must come to an end - the impact of modern technology included.
As semiconductors reduced in size, we were able to fit more into computing devices. This meant that computers got faster and more efficient.
However, this trend cannot last forever.
The Power Wall is a theory that states that at a certain point, too many semiconductors will have the opposite effect that they do just now. More semiconductors leads to more heat, which leads to an overall decrease in speed and efficiency of computers.
We have yet to hit the Power Wall. But it will happen.
The Second Quantum Revolution
With current technology approaching maximum efficiency, it is time for us to look to the future. If we cannot go through the Power Wall, we need to go round it.
Physicists are hard at work creating new technology that will eclipse the computing devices we use today.
According to The Quantum Daily, the Quantum computing industry could be worth 64b USD by 2030. While this doesn’t give us an exact date of when Quantum computers will be publicly available, it does show us the expected growth of the industry.
If we work on the assumption that we will have readily available Quantum computers within the next decade, then we can look to the first Quantum revolution as an example of what to expect.
Quantum computers will have a huge impact on the world as a whole, but especially within the business landscape.
Quantum Computing Use Cases
Some of the industries we know will be impacted by Quantum computers include: transport, finance and pharmaceuticals.
With Quantum computers, businesses within these sectors (and more) will be able to increase efficiency and profits.
Companies now have the opportunity to join the second Quantum revolution early.
This could lead to a massive advantage over competitors. It could also lead to the rise of new competition.
Now is the time to invest in employee training. Adapting to survive is vital in business. Now is the time to adapt.