Home » Investment in quantum computing to be major economic driving force in next two years: experts at Investopia 2023

Investment in quantum computing to be major economic driving force in next two years: experts at Investopia 2023

by Dubaiforum

ABU DHABI, 5th March, 2023 (WAM) — Thought leaders and entrepreneurs from around the world discussed the opportunities presented by AI and quantum computing to optimise efficiency and growth in all walks of life, during Investopia 2023 annual conference, which took place on 2nd and 3rd March, 2023.

The session, titled “Quantum Leap: Transforming Industry Through Quantum Computing & AI”, was led by Jan Goetz, CEO and co-Founder of IQM Quantum Computers, Joanna Shields, CEO of BenevolentAI and Herman Narula, CEO & Co-Founder of Improbable.

The speakers presented their thoughts on integrating technology into every aspect of work to create opportunities and resolve shared problems.

They explored different elements of AI, quantum computing, and the Metaverse, and their game changing potential to ensure purposeful jobs and contributions to society on a whole.

In the context of the new economic formations resulting from the tremendous technical developments, experts affirmed that, investment in quantum computing will be the new economy during the next two years.

Jan Goetz emphasised on the power of quantum technology in the application of AI, allowing for faster problem-solving. He explained that quantum allows you to solve problems exponentially faster. “If you want to simulate a molecule, and you use a normal computer, it takes millions of years, but with quantum, it will solve this problem in days or minutes. We find this problem in all industries. In the class of optimisation and supply chain problems, quantum is a disruptive tech that can solve some of these issues.”

He also noted that we are at the beginning of the development of this emerging technology, and there are vast opportunities for building the industry together. As technology disrupts every industry, it is important to create opportunities for people to maintain their fulfilment. For example, the Metaverse has the potential to provide new opportunities in the education sector and that the creation of virtual experiences goes beyond video games and can serve a purpose. Finally, he underlined the need to thoroughly understand the type and kind of skills and infrastructure we need as an industry to prepare for this dynamic future.

Joanna Shields highlighted the increasing use and mainstream understanding of general-purpose language models, such as ChatGPT, and the potential ethical challenges associated with AI.

She emphasises the exciting development of large language models for specific purposes, such as deciphering complex diseases, and the ability to ingest data from multiple sources to aid decision-making. From an investment perspective, she noted the real-world impact of this technology. However, she stressed upon the importance of a multi-stakeholder approach and engaging with organisations and experts to generate awareness of ethical AI.

Shields also discussed the need for the technology to be in the hands of thousands of scientists to better understand disease biology and have a broader impact on society.

Herman Narula put the spotlight on the potential of the Metaverse and its applications in various industries such as sports, music, gaming, and defence.

He emphasised the importance of making the virtual world meaningful and creating new opportunities for people as there will be a shift in the way we work and operate.

He argued that the idea of Singularity AI being perfect at every problem is a misguided notion, and instead, we are likely to see many specialised AI models for different purposes. However, he suggested that AI is already smarter than humans in some areas.

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