Using quantum computing, pharmaceutical companies could screen larger and more complex molecules, better map interactions between a drug and its target, and shave time—and costs—off the development process. The result: better diagnostics, medications, and vaccines, coming sooner and more efficiently to market.
Over the next decade, quantum computers, along with quantum-inspired algorithms running on classical computers, can generate $2 billion to $5 billion in operating income for financial institutions. A key advantage of quantum technology is that it allows financial players to better manage uncertainty in decision making. The applications are far ranging: portfolio optimization, risk analysis, fraud detection, asset pricing, and capital allocation—for starters.
Quantum computing can unlock new approaches for tackling climate change. Among the early applications: modeling molecular interactions involving 50 to 150 atoms, something that classical computers cannot do. This could spark the development of better and more efficient chemical catalysts, which, in turn, could reduce emissions and enable more robust carbon-capture-and-storage solutions. Further down the road, quantum technology could help in the development of lighter and stronger materials for building cars and aircraft.