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Source: Bova et al., “Quantum Economic Advantage,” National Bureau of Economic Research, February 2022.
Vaccination: In quantum mechanics, subatomic particles can exist in two different states simultaneously. Quantum computers replicate this state of being together to create additional space to store information. Whereas classical computers store information with binary bits of one and zero, quantum computers use quantum bits (qubits) that can be both one and zero, effectively storing data with each qubit used. can double. This additional storage allows more computer calculations to be executed faster than classical computers, giving quantum computers a quantum advantage if they are capable of solving problems too complex for classical computers. But a recent report from the National Bureau of Economic Research (NBER) finds that quantum computing does not necessarily require quantum advantage to maintain a dire economic advantage.
The report presents the economic model between a classical computing company and a quantum company. The authors demonstrate that in quantum advantage scenarios, the quantum firm can produce as effectively as a monopoly because classical firms are unable to enter the market to compete. More revealing, they analyze Grover’s algorithm, a well-known quantum algorithm, to identify the rate of quantum speedup in their model for cases without strict quantum gain. They found that implementing Grover’s algorithm allows a quantum computing company to perform specific processes in the square-root of the number of steps, compared to equivalent classical algorithms. Based on this quantum speedup, they find that even in situations without quantum advantage – and where the classical firm of the model is largely cheaper – the lower variable computing cost of the quantum firm improves profitability by reducing the cost base of the firm. and indirectly improves profitability by producing more. Benefits of investing in market making. Their findings indicate that even if there is no strict quantum advantage and equivalent computation is still possible on classical hardware, a quantum economic advantage is still achieved. The advantages of quantum computing have massive commercial, scientific and national security implications, so any country hoping to take the lead in these issues must also be a leading investor in the technology.
