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Use Cases for Quantum Computing

The top near-term business applications for quantum

Berenice Baker

August 4, 2023

2 Min Read
A scientist with test tubes
Health care is a key target vertical for quantum solutions. Getty

Quantum computing is still at an early stage, but businesses are already working closely with quantum computing companies on real-life use cases to gain a competitive advantage.

Here is a selection of recent news stories about business applications for quantum. To keep up to date with coverage of all things quantum for business, subscribe to the Enter Quantum newsletter to get content straight to your inbox.

Transportation

  • Quantum-South has released a new version of its air cargo optimization software that uses quantum-inspired optimization algorithms to determine the optimal loading strategy for packing a consignment into an aircraft.

Quantum Chemistry

Financial Services

  • Truist Financial Corp. has joined IBM’s Quantum Accelerator program to develop internal expertise in quantum computing to prepare to use the technology for future financial services applications.

  • Quantum technology company Terra Quantum and investment bank Cirdan Capital claim to have developed a faster quantum-based algorithmic method for pricing exotic financial options.

  • Rigetti and ADIA Lab are developing a quantum solution to a financial sector problem known as the probability distribution classification problem.

Related:Quantum Computing Summit Austin 2023: Editor’s Picks

Navigation

  • Q-CTRL and Australia’s Department of Defense plan to jointly develop a quantum-assured navigation capability for military platforms using Q-CTRL’s software-ruggedized quantum sensing technology.

Manufacturing

Construction

Energy

  • Quantum computing company Multiverse Computing is working with clean energy multinational Iberdrola to use quantum optimization algorithms to modernize electrical grids.

Telecommunications

Health Care

  • Algorithmiq, a company that specializes in quantum computing products for life sciences, has raised $15 million in a series A funding round.

  • Quantum AI specialist Zapata Computing has agreed with the Technical University of Denmark (DTU) to investigate how quantum computing can create near-term value for pharmaceutical manufacturers.

  • NTT Data researchers have used a hybrid quantum approach to optimize genome sequencing and assembly, providing information that could be used to develop new treatments and therapies to target underlying genetic causes of disease.

About the Author(s)

Berenice Baker

Editor, Enter Quantum

Berenice is the editor of Enter Quantum, the companion website and exclusive content outlet for The Quantum Computing Summit. Enter Quantum informs quantum computing decision-makers and solutions creators with timely information, business applications and best practice to enable them to adopt the most effective quantum computing solution for their businesses. Berenice has a background in IT and 16 years’ experience as a technology journalist.

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