As quantum computing continues to evolve, business leaders are starting to explore how this groundbreaking technology might impact their industries.
This was very much in evidence at the National Quantum Technologies Showcase in London, where I saw an impressive number of people all working in real world applications of quantum technology. It was amazing to see manufactured components that could trap and manipulate matter at the quantum scale. Particularly when you think that there are more molecules in a litre of water than there are stars in the known universe…
If you’re a CFO, CIO, CDO, or CEO wondering how to begin understanding quantum computing, this framework offers 7 critical points to guide your thinking as we prepare to enter 2025 – the year of quantum!
Quantum computing is on the cusp of transitioning into mainstream use, and while it may not change everything overnight, the specific areas it will transform will do so dramatically.
From solving complex optimisation problems in seconds to redefining data security protocols, quantum computing will challenge the way businesses approach many of their most pressing issues.
Read on to explore 7 key considerations that should be at the forefront of your thinking as you start your quantum journey.
1. Let’s get it out of the way: The impact on encryption
Encryption is often the first thing that comes to mind when discussing the potential impact of quantum computing. With current cryptographic methods (such as RSA encryption) relying on the difficulty of factoring large numbers, quantum computers pose a serious threat by significantly reducing the time needed to crack these codes.
For digital and data leaders, this creates a critical imperative: by 2030, quantum computers with sufficient numbers of qubits and noise correction may be available to operate this new class of code-breaking, meaning quantum-safe encryption must be part of your cybersecurity strategy. Failing to plan for quantum-safe encryption could expose your company to significant security risks, including data breaches and cyberattacks that could undermine customer trust.
By securing your data now, you not only protect your company from future vulnerabilities but also stay ahead of competitors who may delay taking action.
2. Education and awareness
Whilst you can buy or access quantum hardware already from companies like IBM, D-Wave, Google and Microsoft, they are currently quite “small” (not many qubits), and more importantly they are still much more prone to errors than classical computers. This is why error correction is such an important field of research in Quantum Computing, and why Google’s Willow is an important breakthrough.
So rather than trying to dive in on a pilot which is likely to give error-strewn results even if the functionality behind it is rock solid, one of the most valuable steps to undertake right now is education and awareness.
The quantum realm is unlike the world we experience every day, so demystifying some of the important concepts like superposition and entanglement, which underpin the quantum computing advantage, will help others in your organisation make an informed decision when the time is right to take the plunge and invest.
3. Where will quantum computing make a difference? Identifying use cases
Quantum computing won’t replace traditional computers – it will complement them by solving problems that are currently intractable (extremely difficult or resource intensive to solve). For business leaders, identifying the right use cases for quantum computing is essential. Some of the most promising areas include:
- Optimisation Problems: Logistics, supply chain management, and financial optimisation are some examples where quantum computers can solve highly complex problems exponentially faster than classical systems. For example route optimisation (travelling salesperson problem) and resource allocation and scheduling in manufacturing processes.
- Drug Discovery and Material Science: Quantum computing has the potential to revolutionize industries such as pharmaceuticals by simulating molecular structures and reactions at a level of detail far beyond what’s possible with classical computers.
- Artificial Intelligence and Machine Learning: Quantum computers can enhance AI by handling larger datasets and more complex calculations such as the k-nearest neighbour algorithm, potentially improving pattern recognition, predictive analytics, and other AI-driven processes
By identifying areas where quantum computing can deliver transformative value, you can begin planning strategically.
A sound, cloud-based data platform will be critical for testing and implementing these use cases, as it provides the scalability, security, and computational power needed to harness quantum computing’s potential.
4. What are the benefits?
The potential benefits of quantum computing can significantly impact your company’s competitive edge, particularly in sectors requiring massive computational power. Some key benefits include:
- Increased Efficiency: For companies in consumer goods, manufacturing, finance, logistics, or energy, quantum computing promises breakthroughs in optimisation, which could dramatically lower operational costs and improve efficiency.
- Accelerated Innovation: The ability to simulate and test complex systems with high precision can shorten the time to market for new products and services, especially in sectors like pharmaceuticals and material sciences.
- Improved Decision-Making: Quantum algorithms can process vast datasets much more efficiently than classical algorithms, enabling faster and more accurate decision-making in real-time.
- Sustainability: for companies and applications requiring huge amounts of energy to run classical compute processes on R&D and AI training, for example, quantum computers could eliminate significant amounts of energy. However, there is a caveat – this has yet to be definitively proven, and of course energy savings could be offset by an “arms race” of doing more and more quantum calculations.
In order to achieve these benefits, a robust, cloud-based data platform is needed to facilitate the integration of quantum-powered insights into your business operations.
5.What are the risks?
As with any emerging technology, there are risks associated with quantum computing. These include:
- Security Risks: If quantum-safe encryption is not implemented in time, quantum computing could expose sensitive data to breaches.
- Technology Readiness: Quantum computing is still in its early stages, is prone to errors, and the technology may not be ready for widespread, enterprise-scale implementation for several years. There may be a gap between early experimentation and practical, commercial use cases. You could waste money!
- Talent Shortage: As demand for quantum expertise increases, the shortage of skilled quantum professionals could become a bottleneck, driving up costs and slowing progress.
Being proactive in your planning can mitigate these risks. Enabling some of your people to educate and train themselves in real or simulated quantum environments will prepare your business for exploiting quantum opportunities as they arise.
6. What is the effect on existing infrastructure?
The integration of quantum computing with existing IT infrastructure will require careful planning. Quantum computers won’t replace traditional computing systems – they will augment them. This means that organisations will need to build hybrid architectures that can seamlessly integrate quantum computing with classical computing resources, although .for a lot of companies, quantum computing will simply be part of the cloud compute service they use, and may not require physical infrastructure changes.
A sound, cloud-based data platform offers the flexibility to experiment with quantum resources while maintaining the performance and reliability of existing IT systems. Additionally, these platforms provide scalable storage and processing power, which may be needed for handling the data flows generated by quantum experiments, especially those involving comparisons with classical compute.
7. What resources and skills are needed, and how can they be accessed?
Building a quantum-ready organisation requires the right combination of resources, infrastructure, and talent. Key areas of focus include:
- Talent Acquisition: The demand for quantum scientists, engineers, and software developers will increase. Ensuring your team has access to the necessary talent through training or partnerships will be critical.
- Cloud-Based Quantum Tools: Many big tech companies, such as IBM, AWS, Google, and Microsoft, are already offering quantum computing services. These tools will be invaluable for businesses looking to experiment with quantum computing without investing in dedicated hardware.
- Collaboration with Research Institutions: Partnering with universities or dedicated institutions like the National Quantum Computing Centre or Digital Catapult in the UK can provide the expertise needed to explore quantum use cases and stay on the cutting edge.
Building a strong ecosystem of resources and skills will be essential for navigating the quantum landscape effectively – the only question is timing. For most companies who haven’t yet started their quantum strategy, building awareness and education is a great first step.
Conclusion
Quantum computing is still in the early stages of its journey to mainstream adoption, but the clock is ticking for businesses to begin preparing.
By 2030, quantum computing will likely have a profound impact on a huge range of processes, from cybersecurity to logistics operations and more.
Education and awareness is the best first step for those who haven’t yet started their quantum strategy.
Investing in a robust, cloud-based data platform is essential for preparing your organisation to integrate quantum computing. With the right infrastructure, you can accelerate your journey into this transformative technology, opening the door to new efficiencies, innovations, and competitive advantages.
If you’d like to explore this in more detail, get in touch to arrange a discussion.
