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Business Renaissance: Opportunities and Challenges at the Dawn of the Quantum Computing Era

Author

Listed:
  • Meng-Leong How

    (The University of Newcastle, Callaghan, NSW 2308, Australia)

  • Sin-Mei Cheah

    (Centre of Management Practice, Singapore Management University, Singapore 188065, Singapore)

Abstract

Quantum computing is emerging as a groundbreaking force, promising to redefine the boundaries of technology and business. This paper provides an in-depth examination of the quantum realm, beginning with its fundamental principles and extending to its implications for today’s industries. We discuss how quantum algorithms threaten existing cryptographic measures while also uncovering vast opportunities in sectors like finance, healthcare, and logistics. The narrative then shifts to the evolution of new business models, exemplified by Quantum-as-a-Service (QaaS) and enhanced AI capabilities. Alongside the myriad opportunities, we address the challenges and ethical concerns surrounding the swift rise of quantum technologies. By emphasizing the importance of collaborative efforts among businesses, policymakers, and technologists, the article advocates for a balanced and responsible approach to quantum adoption. Through this analytical lens, the article paints a comprehensive picture of the impending quantum era, presenting both its transformative potential and the complexities it brings to our interconnected world.

Suggested Citation

  • Meng-Leong How & Sin-Mei Cheah, 2023. "Business Renaissance: Opportunities and Challenges at the Dawn of the Quantum Computing Era," Businesses, MDPI, vol. 3(4), pages 1-21, November.
    • Handle: RePEc:gam:jbusin:v:3:y:2023:i:4:p:36-605:d:1277245
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    References listed on IDEAS

    as
    1. Frank Arute & Kunal Arya & Ryan Babbush & Dave Bacon & Joseph C. Bardin & Rami Barends & Rupak Biswas & Sergio Boixo & Fernando G. S. L. Brandao & David A. Buell & Brian Burkett & Yu Chen & Zijun Chen, 2019. "Quantum supremacy using a programmable superconducting processor," Nature, Nature, vol. 574(7779), pages 505-510, October.
    2. Elizabeth Gibney, 2019. "Quantum gold rush: the private funding pouring into quantum start-ups," Nature, Nature, vol. 574(7776), pages 22-24, October.
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