The next technology that has the potential to transform industries from healthcare to finance to manufacturing is one with which many South Carolinians might not be familiar. It’s called quantum computing, and thanks to a significant investment from the state legislature, it has already arrived in the Palmetto State.
In the current state budget, $15 million was allocated to bring access to quantum computing to South Carolina, the state’s largest investment ever in a tech initiative.
South Carolina at the Cutting Edge
“The quantum technology is the technology of the future, and we at South Carolina shouldn’t be lagging behind. We can be on the cutting edge of that,” Sen. Dick Harpootlian, D – Richland and the legislator who advocated for the money in the budget, said.
Right from their laptops, students at the University of South Carolina’s Darla Moore School of Business can tap into a web portal to access a quantum computer many miles away. They use it to solve complex problems, like how to build a financial portfolio that will make the most money with the least risk.
Quantum Computing vs Traditional Computing
“If we were to do it classically [on a regular computer], it would take hundreds, if not thousands of years sometimes, when a quantum computer would take minutes,” senior Jordan Fowler said.
Fowler is part of the first team of students in South Carolina to have this access, thanks to the $15 million the legislature spent to get the program started.
Advocating for the Future
Harpootlian pushed for the investment multiple times in the budget. Two years ago, he requested a $25 million earmark for the state to purchase its own quantum computer, but Gov. Henry McMaster vetoed that allocation. Last year, Harpootlian adjusted his request to $15 million, which would cover the cost to rent time on quantum computers accessible through a web portal.
Transforming Education and Economy
“This is one of those transformational investments,” South Carolina Quantum Association Executive Director Joe Queenan said. The key component of this investment is education, training students throughout the state in this emerging technology.
“We want to utilize the technology to help, one, prepare our students for the future, and then two, help them get jobs using it,” Brandon Mendez, a clinical assistant professor of finance at USC, said.
Building a Quantum Hub in South Carolina
Fowler and his teammates recently competed in the Massachusetts Institute of Technology’s annual quantum hackathon, placing third overall after gaining access to quantum computing last fall. They and the future students trained under this new program could potentially start their own companies in South Carolina after they graduate, stimulating the state’s economy and workforce.
Road Ahead
Queenan said the program is currently in its “execution phase” but plans to pursue federal grants down the road to build upon the state’s initial investment.
“In a perfect world, 20 years from now, this is a regional center of excellence, and it burst out of this investment the state made in this past year,” he said.
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