March 6, 2023
3 mins read

Experts predict quantum computing as key driver of economy

Jan Goetz emphasised on the power of quantum technology in the application of AI, allowing for faster problem-solving…reports Asian Lite News

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.

ALSO READ: Sisi hails privileged relations with UAE

Previous Story

Women entrepreneurs discuss role in investment community

Next Story

MEA summons Swiss envoy over anti-India posters in Geneva

Latest from -Top News

Industry Hails India-UK FTA

£34 billion boost, sweeping tariff cuts and market access mark UK’s most ambitious post-Brexit trade pact; Indian sectors set for exports surge…reports Asian Lite News Business leaders from both India and the

India, UK Sign Landmark FTA

The pact is set to make imported goods like Scotch whisky, gin, luxury cars, cosmetics, and medical devices more affordable for Indian consumers….reports Asian Lite News In a landmark moment for India-UK

Farmers Win Big in India-UK FTA

There is a massive gain for rural India and exporters with zero duty on processed foods compared with up to 70 per cent earlier….reports Asian Lite News The India-UK Free Trade Agreement

Modi-Starmer Meet Ahead of FTA Signing

During the discussions, the two sides will also review the progress of the Comprehensive Strategic Partnership (CSP)…reports Asian Lite News Prime Minister Narendra Modi on Thursday called on Keir Starmer at the

Hindu Temple Vandalised in Melbourne

Confirming the incident, Victoria Police mentioned they are investigating “four linked incidents in Boronia,” including the temple and two restaurants….reports Asian Lite News In a deeply disturbing incident of racial violence, a
Go toTop

Don't Miss

UAE Minister discusses role of education in sustainable development

Dr. Al Falasi showcased the UAE’s efforts in launching initiatives

UAE greets world with ‘namaste’ on Yoga Day

Indian Ambassador to UAE Sunjay Sudhir among the community members