Quantum technology is on its way, and it will totally overhaul every aspect of day-to-day life. The ability to perform multiple computations at once will make technology almost instantaneous.
The UK Government has recently marked it as one of six cutting-edge technologies it is investing in. Below, we discuss why Nigeria would benefit by following suit.
The UK’s Investment in Quantum Technology
The United Kingdom ranks second in investment for quantum technology. Since the year 2000, £782 million of this has come through Oxbridge initiatives such as Quantinuum and Oxford Ionics.
The National Quantum Technologies Programme has been running for a decade alongside this. In collaboration with the EU, the US and other major countries, the country is hoping to hold 15% of the global quantum market by 2033.
The UK has committed £670 million to quantum computing in the run-up to 2025. The Quantum Skills Taskforce will oversee its development in five key areas, one of which will be in creating improvements within the NHS.
What Could Quantum Technology Do?
One of the most promising sectors for quantum computing to excel in is the medical field. This could mean improvements in everything from operation success rates to prescription medicines.
It may also be able to work out symptoms and produce a range of possible outcomes in an instant. Cross-referenced with data from blood tests and other statistics, this may result in quicker diagnosis and treatment.
In entertainment, it has the ability to totally overhaul certain sectors. The online sportsbooks industry is one sector that has grown significantly over the last few years, and is projected to reach a value of US$449.67 billion by the end of 2025.
Top operators like Betano have grown the sector by employing robust technologies, such as live in-play betting and up-to-date sports betting odds.
More than most, it relies on statistics to get the right odds for players and operators to do this. With quantum computing, these platforms could have even more bets available, with odds that change in real time as games are underway.
Why Should Nigeria Invest in Quantum Computing?
Quantum computing has several obvious advantages. It could catapult the country into economic growth, allowing it to get ahead of other African nations and possibly global ones.
With a large population and an educated one, there is no reason the talent is not here in Nigeria to do this. It could also benefit from lower living costs to attract foreign talent. Everything from real estate to finance and medical facilities could be improved.
The real question is whether Nigeria has the capacity to do this. Despite being Africa’s largest economy, it is still plagued by issues such as inflation and unemployment.
In fact, the country is experiencing its worst economic crisis in a generation. This is bound to put off investment, unless other factors can seriously compensate for this instability.
Nigeria has shown a willingness to invest in future technologies. Look at its plans to revolutionise its land registry with blockchain tech. Quantum computing could spur the country on to great things, but it requires serious investment first.
[Source: Pexels]
