Top Industrial Applications of Quantum Computing that Entrepreneurs Should Know About

The slow yet consistent evolution of computing systems and devices has led to the introduction of a new concept; quantum computing applications.

Primarily employed to help with complex calculations, quantum computers are expected to create significant advancements and opportunities across different industries.

With tech giants like Google claiming their take on achieving quantum supremacy, IBM is not far behind to advocate their supercomputers.

But what’s more important is that quantum application development applications are certainly up for some significant automation and digital transformation for businesses and industries.

The possibilities of quantum app development are limitless. With time, the world will get to know the true potential of quantum computing. The need for efficient processing is mounting with every passing day, and there seems to be no solution other than quantum application development.

This article covers the top applications of quantum computing, paving the industrial evolution in the years to come.

• Artificial Intelligence and Machine Learning
• Drug Development
• Computational Chemistry
• Cybersecurity and Cryptography
• Cloud Computing
• Financial Automation
• Fraud Detection
• Weather Forecast
• Traffic Optimization
• Logistics Optimization

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10 Industrial Use Cases for Quantum Computing

1. Artificial Intelligence and Machine Learning

Artificial Intelligence (AI) and Machine Learning (ML) have evolved as a few of the prominent disruptive technologies playing a part in industrial automation.

Among the typical applications of AI and ML algorithms in the digital world are the face, gesture, voice, and image recognition apps.

However, deploying AI-powered solutions requires accuracy and fast-paced computation – which could be a challenge of conventional computing systems.

Quantum computing, in such situations, completes massive calculations in lesser time in comparison to traditional computers.

2. Drug Development

Drug development and testing is another challenging domain that quantum computing can accelerate.

An article by Forbes infers that drug development and release is a complex process that takes several years; whereas the entire process may cost up to 2.7 billion USD.

However, the use of quantum computing applications in the drug development process can not only reduce the cost but save plenty of time as well.

Replacing laboratory experiments with quantum computing simulations can, therefore, be deployed as practical quantum applications.

3. Computational Chemistry

Another lucrative application of quantum computing would be to evolve the processes of computation chemistry.

Quantum computation, because of the innumerable states and a complex structure, can be difficult for traditional computing devices.

Subsequently, with quantum computers, the coherent super-positioning of qubits as either 0 or 1 would serve as the fuel to molecular mapping, ultimately aiding the pharmaceutical industry.

Some everyday use cases of quantum computing in computational chemistry can be;

• Enhancing the nitrogen-fixation process during ammonia-based fertilizer production.
• Creating solid-state batteries
• Creating superconductors at room temperature
• Improving air quality by carbon-dioxide removal

4. Cloud Computing

Cloud computing services are primed at enabling businesses across industries to employ automation and performance agility.

And, in the midst of all the technological revolution, the cloud-quantum integration would emerge as the most logical fit.

Custom quantum app development and computing services in the cloud would be used to simplify complex data processing into numerous chunks of information by using comprehensive algorithms.

On the other hand, it is also estimated that, with extensive user pools and tech resources, cloud vendors would be the first ones to provide quantum-as-a-service and robust software development services.

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5. Financial Automation

For investors, finding the right investment opportunities with significant ROIs and minimum associated risks can be a challenging task.

Primarily, the Monte Carlo approach is being continually being run on traditional computing systems that, although yielding valuable results, take an enormous amount of time.

However, with a practical quantum computing application development, not only would organizations perform these calculations conveniently; it would minimize the time, improve quality, and offer easy handling of billions of dollars.

Another quantum computing application in the finance sector would be the use of algorithmic trading where systems would use complex automated algorithms to;

• Analyze market variables
• Trigger share dealings
• And perform guided transactions.

6. Community and Fraud Detection

Industries, whether healthcare, finance, or marketing, require sound solutions for extracting functional entity relationships and data patterns to avoid fraudulent situations.

And since, majority of it is subject to recognizing patterns and analyzing previous transactions methods through complex machine learning algorithms and processes; it requires providing an accurate training set.

However, a significant drawback of such a learning model is that it only detects fraud on the basis of data provided in the training sets – which means data modeling can be a complex task in machine learning.

Quantum computing, in this regard, provides a valuable contribution to assist in effective and timely data modeling.

Not only this provides a resource-effective solution to train neural networks, it ultimately helps in enhancing the efficacy of fraud detection rate with a large amount of data.

7. Weather Forecast

Weather forecast and meteorology would emerge as other prospective quantum computing applications.

Currently, the weather forecast systems leveraging traditional computers often take way longer than they should.

On the contrary, the vigorous quantum computing solutions offering convenient and timely processing of large datasets could prove to be a lucrative solution to model weather systems.

From offering automated and fast-paced weather forecast systems to allowing scientists to predict the change in weather systems with accuracy, quantum computers would do it all.

In addition to this, since weather forecasting takes into consideration several variables such as temperature, air density, humidity, and more., quantum machine learning can offer great analytical and pattern recognition tools.

Also, this would prove as a great help in the adequate implementation of the climate model to get insights into climate change and how to mitigate them.

8. Marketing and Research

Another application of quantum computer applications based on data extraction and pattern analysis is to improvise organic traffic for organizations.

This mandates the use of quantum computers for businesses offering marketing and advertising services.

So how does it work?

A marketing company would require robust systems to enable data aggregation and analysis to detect valuable data, extract patterns, and segment audiences for targeted campaigns.

Since this requires marketers to employ machine learning big data analytics algorithms, quantum computing can help in speedy optimization, data training and modeling, and information derivation.

Subsequently, with quantum computers, marketing companies can offer time-efficient services with accurate results and a precisely targeted audience.

9. Cybersecurity and Cryptography

As the internet grows to be the driving for businesses and organizations to receive global traction and strengthen their user acquisitions, cybersecurity has emerged as a noteworthy threat.

With more than 30,000 website malware creations on a daily basis in 2021, the entire breach fixing cost for businesses is valued at up to $6 trillion.

Organizations have, although implemented several security protocols to mitigate the existing risks, there is still a significant lack in implementation via conventional digital computers.

Subsequently, quantum computing applications leveraging machine learning algorithms would deploy various techniques to combat cybersecurity threats.

Also, quantum applications would also offer encryption methods to enforce greater security protocols, known as quantum cryptography.

10. Logistics Modeling

In order to improve supply-chain management, businesses would readily need a solution to offer improved data analysis and robust performance modeling.

Subsequently, quantum computing applications in logistics would offer powerful computational solutions to provide the following benefits;

• Optimal route calculation to manage traffic
• Ensure efficacy in fleet operations
• Improve air traffic control
• Freight and distribution management

Doing so would put two different quantum approaches at work;

Quantum annealing, an advanced quantum computing technique, offers powerful solutions as compared to traditional computers.

And universal quantum computing solutions offer capabilities to solve all kinds of computational problems.

It’s a Wrap

Among some leading technological advances, quantum computing is all set to emerge as a next-generation technology that would change the way businesses operate.

The above-mentioned are some noteworthy industrial of quantum computers and quantum app development that have already started to pave their way towards speed-oriented performances.

While several tech giants like IBM, Microsoft, and Google are investing in quantum computing, industry leaders and businesses are more inclined towards quantum app development.

With more extraordinary advancements ahead, it is likely that quantum computing apps would set new standards in the mobile app development industry.

In such a situation, collaborating with leading app development and digital transformation company like Tekrevol can help with powerful quantum app development.