Due to the unprecedented global pandemic which significantly affected all industries, companies needed to develop innovative solutions in order to adapt and survive. In this five-part series, we examine how the top technology trends forecasted for 2020 have shifted in the fight against COVID-19 to help the world adapt to the new normal.
Previously, we examined how the application of mobile technologies allows remote access to healthcare and other services while physical distancing rules are currently in effect. In our final article, we discuss emerging technologies such as quantum computing and nanotechnology and how these are used to accelerate the detection and cure for the virus and ultimately prevent another public health crisis.
Quantum Computing & AI
While artificial intelligence (AI) has existed in varying forms since the 1950s, quantum computing is a relatively new field with exciting possibilities. Quantum computing involves the use of quantum bits “qubits” which can exist in more than one state at a time as opposed to traditional computing with only binary bits (“1” or “0”). As such, quantum computers can handle substantially more information at a fraction of the resources required by classical computers.
In view of the advanced capabilities of quantum computers, applying this technology to artificial intelligence problems will lead to significant breakthroughs. Although commercially-available solutions are not yet quite ready, research and development in the quantum computing field persist as this technology is expected to handle massive and unsorted data sets which may be resource-intensive for current supercomputer architectures.
In particular, experts are currently looking to use this technology to rapidly simulate chemical reactions of billions of molecules to identify potential candidates for drugs and vaccines to combat COVID-19. When using classical computers, this process can last decades. Researchers are hoping that quantum machine learning could fast-track this process to less than two years through its ability to solve combinatorial optimization problems where drug discovery tasks fall into. However, due to this exceptional computing power, there is growing concern that current cryptography algorithms for ensuring data security such as RSS would be rendered useless. Thus, further research and development is being performed to create quantum-secure algorithms to replace conventional cryptography techniques.
Additionally, the pandemic prompted unique and new applications for AI. In a recent example, University of Waterloo researchers have partnered with a Waterloo AI startup, DarwinAI, on an open-source project (COVID-Net) involving the use of convolutional neural networks that could detect infections from chest x-rays. They aim to supplement the current detection tests with this tool, especially in areas that have a limited supply of swab tests.
Nanotechnology
Nanotechnology is defined as the science, engineering, and technology conducted at the nanoscale (1 to 100 nanometers). Even though it is a relatively new field, the technology is rife with opportunities as it can be applied in several industries: microelectronics, clothing technology, materials engineering, and biomedicine.
Specifically, nanotechnology is utilized in modern vaccines, such as mRNA vaccines, which are delivered by lipid nanoparticles to overcome the limitations of conventional vaccine deliveries. The engineered nanocarriers block the initial interactions between the viral protein and the host cell. Although we are yet to see clinically-approved mRNA vaccines, the expedited trials show great promise of nanotechnology platform in next-generation vaccine methods.
Technology is constantly evolving where trends change and advance rapidly leading to challenges for companies to remain successful and competitive. The unprecedented impacts of the novel coronavirus highlighted the need to quickly shift and formulate novel strategies for urgent problems by employing technology-based solutions. Although we are still navigating the new normal, we need to ensure that we are better prepared for emergencies of this magnitude.
In order to improve public health and pandemic response preparedness, it is necessary to invest in research and development (R&D). Canadian companies can offset the costs of innovating through various non-dilutive funding programs aimed at strengthening the tech sector by providing financial and advisory support for R&D, business growth, commercialization, workforce development, and market expansion.
For more information on funding programs to accelerate your company’s innovation and growth efforts, contact us to speak with one of our funding advisors.
Previous articles in this series:
2020 Technology Trends Shift Due to COVID-19: Part 1 – Connectivity
2020 Technology Trends Shift Due to COVID-19: Part 2 – Data Analytics & Security
2020 Technology Trends Shift Due to COVID-19 – Part 3: 5G & Edge Computing
2020 Technology Trends Shift Due to COVID-19 – Part 4: Mobile Tech