“Quantum is coming.”
This line is likely familiar to anyone who has kept an eye on technological news. Over the last decade, quantum computing has made headlines with its impact on AI, cybersecurity, and infrastructure. The last two years alone have been pivotal as researchers have made strides in making error correction for sensitive qubits possible.
The result? A growing fear by corporations that they will be left scrambling when viable quantum computers and their functionalities are taken to the market. For companies, being prepared for the impact of future impact of technologies is paramount.
This includes being quantum ready to take advantage of the opportunities made possible by quantum computing. Where should you, as a quantum end user, begin?
The Need for Quantum Readiness
The worldwide quantum computing market was estimated to have a value of $866 million in 2023, with a projected growth to $4.375 billion in another five years (in 2028). The compound annual growth rate of 38.3% is indicative of a rapidly accelerating technology – it also implies an uptick in organizations’ partnership and investment efforts to foster a quantum-positive ecosystem.
In 2022, the United Kingdom Research and Innovation’s (UKRI’s) National Quantum Computing Center analyzed survey results from 501 executives of companies across the United Kingdom. While most were certainly wary of the timeline for commercialization of quantum computers, they did recognize the near-term impacts of research and development.
Building a Quantum-Positive Ecosystem
Quantum companies have sought to define the direction of the industry by releasing quantum readiness toolkits. While each takes an individual approach – from Deloitte’s risk-awareness centric toolkit to IBM’s operations and talent-focused report – there is one, key parallel between all of them: the fostering of a quantum ecosystem.
Within a company, quantum ecosystems ensure quantum computing can smoothly grow into the company’s future operations. This can include changes in infrastructure and company culture towards quantum computing.
Generally, this means three key points:
- Constructing quantum enthusiasm: As the English phrase goes, companies should “keep an ear to the ground.” By engaging in ongoing research, hardware development, and educational efforts — including sending executives for preliminary training — companies build the awareness around quantum capabilities needed to advocate for positive change.
- Strategizing around quantum: The construction of a dynamic environment capable of taking feedback from stakeholders and adjusting policies is necessary. Assignment of responsibilities regarding who takes ownership of what tasks in the face of a quantum threat — from legal counsel to data management to general operations — will allow for a fast response.
- Nurturing Talent: Attention should be directed towards traversing of the biggest hills left to climb in quantum: the skills gap. While many hold entry-level knowledge, there is still extensive need for training and attracting STEM talent to research labs and various institutions. Resource allocation towards workforce development is paramount.
Granted, the precise response must be adapted to the company culture and mission. Nonetheless, by fostering an ecosystem where quantum may thrive — and be effectively managed — companies may be better prepared to face a future with quantum computing.
