The Quantum Economic Advantage

At the beginning of 2022, the National Bureau of Economic Research released the first publication exploring what was termed the "Quantum Economic Advantage". It was hypothesized by Francesco Bova, Avi Goldfarb, and Roger G. Melko that quantum computers provided  a unique advantage of economic value, given their capability to perform tasks that classical computers cannot.

An exhaustive analysis based on the Cournot duopoly model with asymmetries in variable and fixed cost structures in quantum and classical computing companies demonstrated scenarios in which the former could be more profitable.

The study published by the NBER underlines the challenges and difficulties inherent in emerging technology. Based on the efficiency of their argumentation, the authors concluded that the economic impact of quantum computing was meaningful. However, this requires us to address the current technical limitations and more importantly, to overcome the challenge of social adaptation in face of the profound changes that this technology promises to bring. Some of the challenges and difficulties that have been unmistakably identified involve innovation and product development, through the performance of complex calculations; process optimization, such as logistics; taking data analysis and machine learning to new levels of efficiency and precision. Moreover, quantum computing is going to impact employment as the technology becomes more prevalent. There will be a growing demand for professionals trained in quantum computing and quantum-related skills, which could lead to a displacement of the workforce and require significant efforts in training and education.

The connection between quantum and the economy is therefore already perceivable and, through study, further insight must be gained with an effort to anticipate the consequences of differential economic impact, given that there will be significant variations depending on sectors and regions. Nevertheless, the main beneficiaries will be those who adopt this technology early on and manage to integrate it effectively into their operations and business strategies.