Technological innovation gets crazier and crazier every year, and it’s an exponential growth that we are experiencing. We just discussed how technology helped grow the stock market, and it runs everything now. Businesses rely on computers to make millions of calculations and even make insightful decisions with the rise of artificial intelligence. Computers, along with the people designing and interacting with them, are getting smarter and smarter, and it looks like people have found the next step: quantum computing.
Hearing the word quantum probably sounds crazy to you, and that makes sense. Marvel is where we all heard things like the quantum realm in Ant-Man and Avengers, but quantum computing is genuinely the next big thing. Quantum computing allows computers to process data using the quantum states, with one of its major features allowing them to encode 0s and 1s at the same time. That’s obviously one of the many attributes, but quantum computers have performed some crazy feats. According to studies, one quantum chip takes microseconds to perform a task a supercomputer would spend 9,000 years on. Right now, it’s estimated that it takes billions of dollars to build, so cost is definitely a problem for this new technology. However, it’s still in its baby stages, but some companies are on the forefront.
Public companies like Accenture, Alibaba, Amazon, AT&T, Google, IBM, and many more are starting to explore the space of quantum computing as a way to help innovate and transform their businesses. It’s not just tech companies either, with government consulting firm Booz Allen Hamilton hopping into the space too. Quantum computing could possibly provide these businesses a competitive advantage, and with how quickly tech moves this could start to play out in the next decade.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.