The growth of computers has exponentially increased over the last decades. The shift has been characterized by the power of computers moving from classical to quantum supercomputers. The development of quantum technology can potentially influence sectors like medicine, industries, finance, education, science, politics, and the environment. In this case, a paradigm shift would be achieved through the processing capacity of quantum computers to solve practically unsolvable problems. Advancements in quantum computing will realize a paradigm shift through machine learning, improved Fintech services, and facilitate information security to appreciate its potential.
A paradigm shift is imminent through machine learning with the aid of quantum computing. The way machines are instructed to perform tasks and research will change since quantum computers can solve complicated problems faster than classical computers. With the help of quantum computing, mathematicians and physicists can solve mathematical and physical problems faster than before (Jawaid 2020, p. 20). It can potentially improve business forecasting, problem optimization and achieve sustainable growth. From a performance perspective, machine learning tailored to address specific problems through quantum computing and simulation can offer solutions to complex situations (Ayoade, Rivas & Orduz 2022, p. 2). They will offer faster solutions to issues that continue to characterize classical computers since they have limited performance. Therefore, machine learning is a significant aspect that quantum computers will play in improving problem-solving.
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Improving Fintech Services
Quantum computing will impact business and financial services by enhancing computations. Decisions in financial businesses rely on the computational skills of experts and computers to optimize extensive data. With the help of quantum computing, new algorithms can provide insights into data that companies can utilize to analyze performance and potential in different sectors to ensure better resource allocation (Alberts et al. 2021, p. 2). While classical computers retain some relevance, quantum computing gives an edge to a sector that relies on large data and extensive computations to attain the best outcome. Mosteanu and Faccia (2021) observe that the impact of quantum computing due to its potential impact of extracting results based on information can exude better decision-making in the financial sector (p. 4). Through this context, companies in finance can eliminate potential risks and anticipate areas to improve and explore. As a result, the influence of quantum computing cannot be ignored by finance since it can be adopted in different ways.
Facilitating Information Security
The potential of quantum computing in thwarting information security threats cannot be underestimated. However, to address the challenges facing information security, it requires aligning quantum computing with field experts. Jawaid (2020) acknowledges that quantum computing can identify vulnerabilities in information systems since encryptions like RSA 2048 can be broken 100 seconds faster than with classical computers (p. 20). In such situations, the paradigm shift is expected to focus on improving the safety of information and systems since the world now relies on privacy. Hence, quantum computing will provide a better security perspective on handling and managing information to solve problems.
Quantum computing will require individuals with the knowledge and resources to ensure stability. Deploying quantum devices in different fields will rely on mechanisms that address errors and costs. In a hybrid era, the paradigm shift of quantum computing will be realized through machine learning, improved fintech services, and better facilitation of information security. Therefore, the potential of quantum computing will be realized through innovations that address social, economic, political, and environmental problems with the help of experts.
Alberts, GJ, Rol, MA, Last, T, Broer, BW, Bultink, CC, Rijlaarsdam, MS & Van Hauwermeiren, AE 2021, ‘Accelerating quantum computer developments’, EPJ Quantum Technology, vol. 8, no. 1, pp. 1-17. Available from: <https://epjquantumtechnology.springeropen.com/articles/10.1140/epjqt/s40507-021-00107-w> [13 July 2023].
Ayoade, O, Rivas, P & Orduz, J 2022, ‘Artificial intelligence computing at the quantum level’, Data, vol. 7, no. 3, pp. 1-16, viewed 13 July 2023, DOI: 10.3390/data7030028.
Jawaid, T 2020, ‘Quantum computing and the future internet’, ISSA Journal, pp. 1-6. Available from: <https://arxiv.org/ftp/arxiv/papers/2203/2203.06180.pdf.> [13 July 2023].
Mosteanu, NR & Faccia A 2021, ‘Fintech frontiers in quantum computing, fractals, and blockchain distributed ledger: Paradigm shifts and open innovation’, Journal of Open Innovation: Technology, Market, and Complexity, vol. 7, no. 1, pp. 1-19, viewed 13 July 2023, DOI: 10.3390/joitmc7010019.