[#QuantumComputing] based on quantum theory processing data in quantum units (Quantum Bit: Qubit) will make computers in the future millions of times faster than current supercomputers, taking only 4 minutes to solve a problem that would now take 10,000 years.

Quantum technology is expected to enhance global industries such as automotive, chemistry, financial services, science, cybersecurity, and especially cryptography. It will optimize simulations of complex physical systems, support artificial intelligence, improve algorithms, and help create new materials with specific properties. And while once predicted to reach the market by 2050, recent data suggests it could happen even sooner.

Companies that adopt quantum technology could boost their value by US$ 1.3 trillion by 2035. Quantum technology is set to grow exponentially in 2025. Developing countries, especially in the Asia-Pacific region, will be the fastest-growing markets.

Interestingly, 50% of organizations worldwide believe that quantum technology is a must-have technology. Investment in quantum-related startups was the highest in history in 2022 totaling 2.35 billion US dollars.

As it is a new technology and new frontier with enormous possibilities., quantum technology will be a new technological battleground after the chip industry. China has announced investments in quantum technology in 2022 of 15.3 billion US dollars, more than twice the investment of the EU ($7.2 billion) and 8 times that of the United States ($1.9 billion), reflecting a strong focus on quantum technologies both in knowledge and innovation, reducing risks and stabilizing supply chains including the drive for economic benefits.

But even if quantum technology is a field in demand in the future, there are very few professionals or highly qualified workers in this field as well as a lack of clear laws and access resources. Educational institutions will increase their focus on quantum technology, with an increase from 19 courses in 2019 to 50 in 2022 to address these issues and support future jobs related to quantum technology. According to a 2022 survey, 62% of those employed as quantum scientists are fresh graduates. While Ohio, USA, was the first to include quantum meat in the high school (K-12) science curriculum.

Implications for the future:

- Developing countries can become high-income countries from owning and innovating quantum technology

- Startups and businesses can quickly set direction and make quantum decisions.

- There will be massive loss of financial stability of organizations that accelerate investments in quantum technology without the necessary infrastructure and personnel.

- Quantum expertise will become a new area of interest in the job market following startup expertise and fundraising, digital assets, data science, and artificial intelligence.

- The rapid advancement of multiple technologies, happening simultaneously and linked to each other, has made the law and regulation of technology a major challenge for businesses and citizens alike.

References:

-Is Quantum Computing for Real? https://www.techopedia.com/is-quantum-computing-for-real/2/34913

-Quantum Computing Market Size to Hit Around USD 125 BN by 2030 https://www.globenewswire.com/en/news-release/2023/01/06/2584209/0/en/Quantum-Computing-Market-Size-to-Hit-Around-USD-125-BN-by-2030.html

-The Rise of Quantum Computing https://www.mckinsey.com/featured-insights/the-rise-of-quantum-computing

-Quantum technology sees record investments, progress on talent gap https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/quantum-technology-sees-record-investments-progress-on-talent-gap

-Quantum Computing Is Becoming Business Ready https://www.bcg.com/publications/2023/enterprise-grade-quantum-computing-almost-ready

-Sensing the future of quantum https://www2.deloitte.com/us/en/insights/industry/public-sector/future-of-quantum-technology-public-sector.html

-Why organizations should prepare for quantum computing cybersecurity now https://www.ey.com/en_gl/innovation/why-organizations-should-prepare-for-quantum-computing-cybersecurity-now

-Quantum Computing Is the Future, and Schools Need to Catch Up https://www.scientificamerican.com/article/quantum-computing-is-the-future-and-schools-need-to-catch-up/

-The Future Of Quantum Computing Requires An Emerging Quantum Workforce https://www.forbes.com/sites/forbestechcouncil/2023/03/01/the-future-of-quantum-computing-requires-an-emerging-quantum-workforce/?sh=32628e594239

-The Future Of Quantum Computing And Paving The Pathway For 'Quantum Practicality' https://www.indiatimes.com/technology/news/the-future-of-quantum-computing-591033.html

-Delivering a quantum future https://www.technologyreview.com/2023/04/07/1069778/delivering-a-quantum-future/

-The future of quantum computing https://engineering.tufts.edu/news-events/news/future-quantum-computing

-Quantum Tech Flagship Ramp-up Phase Report https://digital-strategy.ec.europa.eu/en/news/quantum-tech-flagship-ramp-phase-report

-Waiting for quantum computers to arrive, software engineers get creative https://www.reuters.com/technology/waiting-quantum-computers-arrive-software-engineers-get-creative-2023-04-17/

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