Quantum computing uses the principles of quantum mechanics to solve complex problems previously thought unsolvable
This innovative field is based on the principles of quantum mechanics, which enable it to tackle complex problems that are too complicated for classical computers.
Already, researchers around the world are exploring applications of quantum computing in finance, healthcare, agriculture, and many other fields.
In Nigeria, quantum computing is still in its early stages, but its potential impact on major sectors could be transformative. With the right support, quantum computing could revolutionise industries such as finance, healthcare, and agriculture.
However, to realise this potential, Nigeria must invest in developing its quantum computing capabilities, including building the necessary infrastructure, providing funding, and training a skilled workforce.
Quantum Computing in Key Sectors
Finance
In the finance sector, it is used to optimise asset training, profile risk, e.t.c. With the rise of quantum computers, calculations regarding the stock market, which were too random to analyze, have now been made possible.
Organised crime groups which commit insider- related bank fraud is now a major concern of Central Bank of Nigeria. Quantum computers can be used to perform unstructured searches to find abnormalities that might point to fraud.
Healthcare
In the healthcare sector, quantum computing has revolutionized how diseases are being treated. Cancer patients, for example, whose radiation treatment were generated using quantum computing can now have treatment that targets only cancer cells and not healthy cells.
Quantum computing also ensures that drugs produced have better design because quantum computers create a model that shows the interaction between the molecules that make up the drug, thereby making it easy to determine which of its components is safe.
Large amounts of genomic data which will improve our understanding of genetic diseases are also being analyzed using quantum computing.
This is because quantum computers can work with larger data sets than classical computers.
Industrial
The industrial sector greatly benefits from the quantum computer’s ability to handle vast amounts of datasets.
Especially in the day to day operations of businesses. Ranging from inventory management to demand forecasting and resource allocation, quantum computing is being explored.
Agriculture
In Agriculture, quantum computing plays a major role in predicting yield. It does this through predictive analytics.
It also ensures food security by allowing farmers decide the best time to plant after observing data analyzed by quantum computers concerning weather patterns and soil conditions.
Education
The education sector is on the verge of adopting quantum mechanics too. In 2019, IBM made intentions to collaborate with universities in Nigeria such as the University of Lagos, the University of Ibadan, and the Obafemi Awolowo University.
It wishes to introduce the quantum computing service named IBM Q network which is designed to generate standard curricula for students. Online educational platforms, if introduced will then be able to make the learner’s experience an enjoyable and unforgettable one.
This is achieved because quantum computers ‘adapt’ to a learner’s pace and unique learning style.
Security
Quantum cryptography which offers a higher level of security is now available to companies in Nigeria desiring to encrypt the data they store or transmit. Where such data contains sensitive information, it is imperative that its security must not be breached.
QuantuM labs is a company that develops algorithms that can be used for cryptography. Another company which develops encryption is Niger Qubit.
Quantum computers have helped avert losses to financial institutions due to phishing and other fraudulent practices. There are improved and more effective methods of dealing with centuries old health problems and drugs are more effective.
It is easier to run businesses. Farmers now enjoy bountiful harvests because they can strategize, leveraging on quantum computing. There will be success in educating individuals leading to a more adept workforce.
Final Thoughts
The economic impact of quantum computing cannot be overemphasized because it can bring about an innovation and efficiency not previously accessible to the various sectors. It offers quick and lasting solutions to complex challenges and though its adoption in Nigeria is relatively new, its significance is too great to disregard.
Read more: Exploring The Potential Of Artificial General Intelligence (AGI) In Africa
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