Quantum computing, AI and blockchain are being explored as drivers of business transformation and intelligent change by leading organizations.
Quantum computers have the potential to meet the computational needs of modern technology industry developments in areas such as drug development and manufacturing, where traditional and supercomputers are unable to provide the simulations needed to further improve and deliver new developments to these industries. .
Over 60 countries have developed national AI strategies and policies to promote AI development and research and explore AI-enabled risk reduction.
Additionally, distributed ledger technologies using blockchain help secure data and transactions in areas such as finance, government, energy, and transportation.
Quantum computing, AI and blockchain are a natural match, as quantum computing will help achieve new levels of computing power and efficiency as the growth and accumulation of data for industrial solutions increases. By the end of 2024, about 75 percent of enterprises will put AI to work, leading to a 5x increase in streaming data and analytics infrastructures, according to Gartner.
Also, the global blockchain AI marketplace the size is projected to reach US$973.6 million by 2027 as AI and blockchain are used to improve the customer experience through health information management systems and trends such as providing sensitive data for natural language processing algorithms, for example.
The Business Impact of Quantum Computing, AI and Blockchain
Quantum computing has significant potential to speed up problem solving compared to traditional and supercomputers thanks to qubits (quantum mechanical bits).
Mass adoption of quantum computing by businesses is still a few years away, but some big tech companies are making investments now. It is recommended that organizations prepare for the future of quantum computing by keeping up with the latest developments, learning how to better protect data from potential hackers and shaping their business and industry a trajectory that may be disrupted by future technologies.
Many industries will benefit from quantum computing, learning how to better protect data from potential hackers in sectors such as finance, cybersecurity and chemical and pharmaceutical companies:
- Testing chemical experiments: This is an expensive process and researchers could quickly test many more methods. These simulations can solve challenges in chemistry and physics—improving R&D and manufacturing efficiency, leading to better products.
- Battery Improvements: Algorithms are currently being tested in this area to improve the cost, size and charging speed of renewable energy batteries.
- Material improvements: In industries such as consumer goods and aerospace and transportation, creating and testing material designs can create new capabilities faster while reducing costs.
On the other hand, artificial intelligence has been adopted by mainstream business. It is used to optimize product and service features, improve talent management, predictive support in supply chain operations, customer service analytics, logistics network operations and much more.
Business counts revenue is increased by AI in half of the business functions, such as marketing and sales, manufacturing, human resources, strategy and finance, and supply chain management.
The companies that see the most success report that this is due to AI because:
- Leadership driving successful adoption of AI and leveraging knowledge to push AI initiatives
- Organizations that allocate more resources to AI investments than their competitors
- AI brings more growth and productivity
Businesses are also making major investments in blockchain, a distributed ledger that is shared between public and private networks.
Each node in the computer network contains encrypted information where each new block is approved before being added to the chain. Blockchain attracts organizations strategic value as it does not require an intermediary to take advantage of this technology, and helps to reduce costs. It is typically used in smart contracts that are automated to trigger under certain circumstances.
Businesses are exploring the possibilities of blockchain in various applications:
Supply Chain Traceability: Transparency and traceability are important to supply chain operations when verifying the authenticity of products by scanning a QR code or processing material for labor and environmental compliance.
- Transportation: Improving the way people pay for and use transportation services through secure identities, authentication, and identity verification such as vehicle information.
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Quantum computing, artificial intelligence and blockchain enable organizations to continuously advance and accelerate digital transformation in industries worldwide and have many future business implications and applications.
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