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NATO science for peace and security series. D, Information and communication security

A Brief Overview of Quantum Advances and Impact on Economics

Emmanuel Bresson

Published Feb 19, 2024• 0 citations
Publisher

Abstract

This paper provides an overview of the economic impact of quantum technologies. The goal is not to be exhaustive but rather to describe an up-to-date panel of stakes, challenges and figures that remains accessible to non-expert readers who wish to understand the priorities of the so-called quantum revolution. In a first part, the paper reminds the fundamentals of quantum physics (though not entering into technical details). Then in section 2, the benefits of different quantum technologies are challenged and/or illustrated. Section 3 puts in light the main steps that are required in order to economically benefit from the quantum; three axis are identified: education of skilled people, strategy for innovation ecosystem, and standardization. Section 4 concludes by giving some figures on funding efforts made by countries around the world and by pointing out some limitations to overcome.

DOI
10.3233/nicsp240002

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This paper provides an overview of the economic impact of quantum technologies. The goal is not to be exhaustive but rather to describe an up-to-date panel of stakes, challenges and figures that remains accessible to non-expert readers who wish to understand the priorities of the so-called quantum revolution. In a first part, the paper reminds the fundamentals of quantum physics (though not entering into technical details). Then in section 2, the benefits of different quantum technologies are challenged and/or illustrated. Section 3 puts in light the main steps that are required in order to economically benefit from the quantum; three axis are identified: education of skilled people, strategy for innovation ecosystem, and standardization. Section 4 concludes by giving some figures on funding efforts made by countries around the world and by pointing out some limitations to overcome.
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Quantum computing has been rapidly evolving as a field, with innovations driven by industry, academia, and government institutions. The technology has the potential to accelerate computation for solving complex problems across multiple industrial sectors. Finance and economics, with many problems exhibiting computationally heavy requirements, comprise a high-profile sector where quantum computing could have a significant impact. Therefore, it is important to identify and understand to what extent the technology could find utility in the sector. This technical review is written for quantum applications researchers, quantitative analysts in finance and economics, and researchers in related mathematical sciences. It is divided into two parts: (i) a survey of quantum algorithms pertinent to problems in finance and economics, and (ii) mapping of several use cases in the sector to the potential quantum algorithms presented in part (i). We discuss some challenges on the pathway to achieving quantum advantage. Ultimately, this review aims to be a catalyst for interdisciplinary research that will accelerate the advent of the practical advantages of quantum technologies to solve complex problems in this sector.
In the 21st century, the world is full of rapid changes and constant development of technology. The modern rhythm of life requires innovations and revolutionary solutions that would ensure efficiency, safety, and stability in various spheres of activity. In this context, quantum technologies come to the fore and provide unparalleled opportunities to transform our world. The relevance of research and study of quantum technologies is growing every day. They already today have the potential to change our understanding of cleaning processes, cryptography, telecommunications, medicine, and other industries. Understanding the principles of quantum physics and the possibilities of their implementation in practical application becomes necessary due to the rapid progress of scientific research in this area. This research paper aims to review the literature and analyze the prospects and applications of quantum technologies. It will be a valuable source of information for researchers, scientists, engineers, and all those interested in the future development of these advanced technologies. In this framework, the main principles of quantum physics will be developed; its advantages differ from classical technologies and demonstrative application in various fields. Current challenges and obstacles to the introduction of quantum technologies, as well as ways to overcome them, will also be highlighted. It is expected that this work will help readers gain a deeper understanding of the essence of quantum technologies and their impact on the modern world. It will encourage further research, contributing to the development and improvement of these powerful tools.
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Quantum Education (QE) has gained worldwide importance due to the fast development of Quantum Information Science and Engineering (QISE). As per the strategy, quantum technology may spur innovation across industries and boost economic growth. Quantum computing research output and investment differ between developing and industrialized countries, highlighting the need for targeted efforts to close the gap. Consequently, while developed nations have advanced much in quantum research and development, underdeveloped countries still confront resource restrictions, limited infrastructure, and knowledge gaps hindering QE. This paper systematically reviews the environment, difficulties, and solutions for QE in developing countries. QE projects in numerous countries are examined, emphasizing tertiary education and institutes that provide quantum-related courses. A roadmap includes identifying learning goals, building thorough courses, encouraging collaboration, using online platforms, and evaluating and giving feedback. Transdisciplinary learning, hands-on experience, and ongoing learning are emphasized in training quantum workers. International cooperation and partnerships encourage knowledge exchange and resource allocation. The research suggests that underdeveloped nations must work together to overcome obstacles and realize quantum education’s revolutionary potential. Policymakers, educators, and stakeholders can enable these countries to engage in the quantum revolution by executing the equitable quantum technology access roadmap. The general objective of this systematic review is to analyze the current state of quantum education in developing countries, identifying challenges, gaps, and strategies to promote its implementation. The specific objectives are to: (1) identify and classify academic initiatives and research centers in quantum education across emerging economies; (2) examine the infrastructural, financial, and policy barriers hindering quantum workforce development, including digital connectivity and teacher preparedness; (3) compare quantum readiness across countries and regions using educational, scientific, and technological indicators; and (4) propose strategic guidelines for equitable global quantum advancement through curriculum reform, international collaboration, and workforce policy.