Professor Irene Alda has no doubt—quantum computing isn’t some far-off sci-fi dream. It’s happening now, and it’s going to change everything. And the numbers tell the same story. According to Fortune Business Insights, the quantum computing market is expected to reach $6.5 billion by 2030, growing at a staggering 36.89% CAGR. Meanwhile, Statista reports that global investments in quantum computing surpassed $35 billion in 2023. But what exactly is quantum computing, and how is quantum computing different from the systems we use today? More importantly, how will it impact fields like artificial intelligence, finance and medicine?
What is quantum computing and how is it different?
Think about how regular computers work. At their core, they use bits—tiny units of data that are either 0 or 1. Everything from emails to Netflix streams is built from these simple binary choices.
Quantum computers, though, don’t play by the same rules. Instead of bits, they use qubits, which can be 0, 1 or both at the same time. It’s called superposition, and it’s what makes quantum computing a whole different ballgame. Another key concept is entanglement—when qubits become linked so that a change in one instantly affects the other, even if they’re miles apart. This gives quantum computers the ability to solve problems that classical computers would take centuries to crack. According to professor Alba:
“Because of these properties, quantum computers will be especially useful for solving mathematical problems with a highly structured nature, such as optimization challenges, cryptography and complex simulations.”
Why quantum computing matters: Real-world impact
This isn’t just about faster calculations—it’s about unlocking new possibilities in industries that rely on heavy data processing.
Quantum computing and cybersecurity
Professor Alda highlights one of the biggest concerns surrounding quantum computing—its ability to break current encryption systems. Many cybersecurity methods rely on the difficulty of factoring large numbers, but a quantum computer could theoretically crack these codes in minutes. The urgency to develop quantum-resistant encryption is growing as researchers try to stay ahead of potential threats.
Medicine and drug discovery
Quantum computing can simulate molecular interactions with incredible precision, making it a game-changer for pharmaceutical companies. Professor Alda points out that quantum simulations could vastly accelerate drug discovery by modeling chemical reactions that classical computers struggle to process. Researchers could develop new drugs in a fraction of the time it takes now, potentially leading to breakthroughs in treating diseases like cancer and Alzheimer’s.
Smarter finance
The financial world runs on algorithms that analyze massive amounts of data. Professor Alda notes that quantum computing could take this to the next level, optimizing investment portfolios, managing risk and spotting market trends faster than ever before. Quantum algorithms could allow financial institutions to make more accurate predictions and streamline complex calculations that today’s computers struggle to handle.
The connection between quantum computing and AI
Artificial intelligence is already shaping the way we live, work and interact with technology. But training AI models requires enormous computing power, and this is where quantum computing could take things to another level.
What is “quantum AI”?
Quantum-enhanced AI (sometimes called “quantum AI”) could make machine learning models faster, more efficient, and capable of spotting patterns that classical AI struggles with. Professor Alda highlights how quantum algorithms might lead to breakthroughs in AI-powered drug discovery, self-driving technology, and language processing. And beyond just performance, quantum computing could make AI more sustainable by reducing the massive energy consumption that traditional AI training requires.
What’s holding quantum computing back?
Of course, quantum computing isn’t quite ready to replace classical computers just yet. There are still some major hurdles to overcome.
For one, qubits are incredibly sensitive. They require extreme conditions—like temperatures near absolute zero—to maintain their quantum states. Even the slightest interference can cause errors, making stable quantum computing a difficult challenge. Professor Alda explains that developing error correction techniques and more robust hardware is essential before quantum computers can be scaled for widespread use. Researchers are making progress, but large-scale quantum computers are still a few years away from being commercially viable
How IE University is preparing students for the quantum era
Quantum computing isn’t just for physicists—anyone working in tech, finance or AI will need to understand its potential. That’s why IE University’s Bachelor in Applied Mathematics is designed to equip students with the skills they need to thrive in this evolving landscape. Courses in linear algebra and probability lay the foundation for quantum mechanics, while hands-on programming experience helps students develop the computational thinking required for quantum algorithms.
First-year students even get an introduction to quantum computing through a course with Eduardo Sáenz de Cabezón, giving them an early look at this revolutionary field. With guest lectures, specialized events and opportunities to learn from top researchers, IE University ensures its students are ready for the future of technology—whether that’s in AI, quantum computing or whatever comes next.
For students looking to be at the forefront of innovation, a degree in applied mathematics at IE University is a launchpad to a career in the industries that will shape tomorrow.