Business Executives Gain Interest in Quantum Technologies

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The current state and potential of quantum computing and technology continues to make it into the minds of C-level executives and even some Boards of Directors these days. Clearly some just do not want to lose out on an opportunity. Others are feeling they may be at a disadvantage if they do not act now and get in early. Finally, there are those that think this is all over-blown and quantum computing and technology will not become a business reality for a decade or more. While there are no factual numbers about the percentages in each of those three categories, one thing is certain.  They are in flux and news keeps coming out with the majority of articles having a positive tone.

INSIGHT: Honeywell caught many by surprise and just announced they are about to launch what they claim to be the world’s most powerful quantum computer at this time. Or it is at least the most powerful that has been publicly disclosed.

The continued advancement of quantum computing has had ripple implications in other spin-off technologies. The combination of multiple technologies such as AI/machine learning and Internet/communications are also becoming recognized as a true potential in the not so distant future. The quantum internet is one of the hotter areas. However, arguably, it is not the hottest topic for this period by many accounts. So, many are asking what perhaps is above all those technologies? Or at least what is near the top of the list?

One of the hottest quantum technologies or without question one of the top being discussed a substantial amount, deals with the growing potential of quantum computing being accessed in the cloud. Most organizations, both business and government, are not in need of their own quantum computer with the accompanying employees. Well at least not as of yet. Review of several estimates/forecasts yielded no evidence that quantum computing is included in the current cloud computing market forecasts. At this time, the cloud computing market is projected to grow at a compound annual growth rate (CAGR) of between 20 to nearly 30 percent by 2025.  That growth rate for cloud computing could put the 2025 market value estimate over $700 billion USD.

INSIGHT:  Amazon and Microsoft both announced they were taking quantum computers to the cloud back in 2019 and without question, more have come and are sure to come.

These hybrid cloud services allow users to combine quantum and classical supercomputing.  In some cases, they allow multiple approaches to quantum computing to choose how to handle extremely complex problem sets. With public announcements about breakthroughs and advances occurring at such a frequent pace, it is extremely difficult to accurately project what quantum technology will be like in the next few years.  That makes it nearly impossible to project what quantum technologies will be like in 2025 as well as what complex problems they will be able to solve.