Applicability of Quantum Computing to industrial sectors: Pharmaceuticals, Chemicals, Automotive and Finance
Macroeconomic challenges
Most known use cases
Market research strongly suggests that the above-mentioned industries can reap the strongest short-term benefits from quantum technology. As a conservative estimate, the aggregate value at stake for these industries stands between roughly $300 billion and $700 billion.
About QNT
QNT is an innovative quantum technology startup established in November 2021 in Athens, Greece.
The company’s two founding shareholders, Dr. Aggelos Tsikas, engineer and holder of Ph.D. degree in Mathematics from Carnegie Mellon University, U.S.A. and Dr. Takis Psarogiannakopoulos, also holder of a Ph.D. degree in Mathematics, from the University of Cambridge, UK., share an extensive background in advanced pure mathematics and have recently assembled a team of specialized mathematicians, physicists and software engineers supported by knowledgeable legal and financial advisors.
Bolstering QNT’s corporate, market position and business prospects, Dr. Psarogiannakopoulos was also the co-founder and CTO of Cambridge Quantum Computing Ltd (*) which merged last year with Honeywell Quantum Solutions to form the world’s largest and most advanced standalone quantum computing company.
Dr. Psarogiannakopoulos has developed the t|ket>, an advanced platform-agnostic software development kit to create and execute programs for gate-based quantum computers.
(*) (Cambridge Quantum Computing – Bloomberg Business Innovators)
Quantum computation relies on a fundamentally different means of processing and storing information than today’s classical computers use. The reason is that information stored in quantum computers does not obey the laws of classical mechanics but those of quantum mechanics. Usually, quantum-mechanical effects become apparent only at very small scales, when quantum systems are properly isolated from their surrounding environment. These conditions, however, make the construction of a quantum computer a very complex and challenging task.
Notwithstanding this challenge, according to a recent report by McKinsey & Co., pharmaceutical, chemical, automotive and finance are estimated to be the first group of industry sectors to benefit from quantum computing, primarily since many “use cases” share the potential to be formulated as problems that can be solved by quantum algorithms running on quantum computers available in the near term.
Macroeconomic challenges:
Regulatory framework
Customer expectations
Big-data Requirements
Data security
Most known use cases fit into four archetypes:
Quantum simulation
Quantum linear algebra for machine learning
Quantum optimization and search
Quantum factorization
Market research strongly suggests that the above-mentioned industries can reap the strongest short-term benefits from quantum technology. As a conservative estimate, the aggregate value at stake for these industries stands between roughly $300 billion and $700 billion.
