3 predictions for the future of quantitative computing
At EY, we are engaged in research about the technological and societal “revolution” that will succeed our current Digital Age, which is being called the Neuro Society era.
We are exploring the possibilities that will come with quantitative computing and other advances that actually embed technology in humans, while also collaborating with our own “ecosystem” partners from business, government and academia on the impact of all these new technologies on humanity. We call it Humans Inc., and we’re asking probing questions such as “What is our approximate lead time on preparing for this new era?” and “How do we ensure humanity is preserved?”
No one really knows whether quantitative computing and neuro breakthroughs are three, five or 10 years out; as a result, it’s hard to predict exactly how they will impact forganizations. However, here are a few projections:
1. We certainly can envision QC’s capacity for processing massive amounts of data and its exponentially faster computing speed having a positive impact on financial planning and tax compliance and planning processes. We also foresee it contributing to predictive analytics reports that equal or surpass what human analysts are capable of doing today.
2. Quantum computing is being heralded as the apex of data security. Even though a quantum computer could crack many of today’s encryption techniques, predictions are it will also create a new hack-proof standard of security. This means filing financial statements and financial data could be safer in a few years than it is today.
3. Even though quantum computers will be better at complex tasks, traditional computers will still be the go-to for everyday tasks such as desktop publishing and spreadsheets. Although professionals may not need to learn how to use a quantum computer in the foreseeable future, it’s imperative that they stay abreast of the changing tech landscape so they achieve a useful level of awareness and understanding.
The computing solution for the next 100 years
Some experts say QC is the computing technology for the coming century, and the race is on among leading technology companies to be the first to build a meaningful quantum computer. Due to its potential for widespread impact — in business, government, medicine, law enforcement, education and more — there’s talk of developing a national strategy around it, bringing all of the affected constituencies together to help shape QC’s future role.
Staying out in front of relentless technological developments is demanding and often confounding, but it will prove rewarding for those who embrace the journey and ultimately reap the long-term value. Quantum computing definitely will play a role in taking current artificial intelligence capabilities to an entirely new level of performance for many business disciplines and services.