How Quantum Accelerates Businesses Today – and How to Do It for Your Business

By: Pedro Lopes

When one asks what quantum computing brings to the table, one often hears about the potential for unparalleled computational power and revolutionary problem-solving capabilities. Historically, speed has been the main promise of quantum computing advantage, yet, as of now, most quantum computations on real hardware could be reproduced with classical computers.

As companies everywhere are working to streamline operations, all types of spending are coming under increasing scrutiny, including quantum. This presents an opportunity for the quantum players to make a compelling case, helping steer general industry R&D efforts and equipping leaders to argue that quantum computing, even in its current and evolving state, holds a unique proposition that can reshape how businesses operate, strategize, and innovate.

Over the years, various perspectives within the quantum industry have shed light on the topic, balancing enthusiasm with practical insights. While some have focused on quantum's speed promise (as early as 2019, as discussed in this article by William Hurley), others have analyzed the broader impact of quantum computers and the potential costs of technology adoption (as seen in Simone Severini's article). Here, we offer a complementary perspective by providing six recommendations for business leaders involved in quantum applications. This list highlights different angles a business could look at to find value when working in quantum, as well as suggestions for how to steer application research directions while minimizing the risk of ending in dead-ends and feelings of “wasted effort.” Here we go:

1. View Quantum Applications as a Gateway to Technical Excellence:

The quantum industry is a crucible for technical daring. Embrace quantum applications as a means to develop technical expertise and tackle challenges at the forefront of human understanding. When engaged with quantum applications, teams engage with complex problems, fostering a culture of intricate problem-solving that can lead to profound innovations and hidden business insights. By partnering with companies in the quantum industry, your team will have access to the support of professionals who are used to this mindset and will also be able to exchange ideas and develop unique skills.

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2. Embrace Long-Term Research Planning:

Leverage your involvement in quantum to think beyond proof-of-concept development. Develop sustainable long-term research plans and explore partnerships with non-profit, research, or academic organizations to mitigate risk and align with your business's investment appetite, bridging short-term and long-term plans.

3. Be Cautious About Resource Estimations:

While assessing the quantum computational power needed for specific applications is valuable, keep in mind that technological advances can quickly change the landscape. For instance, just this year, the newest estimates for quantum error correction with neutral atoms indicate that 1,000 logical qubits could be realized with 100,000 physical ones. This is an order of magnitude improvement with respect to some other qubit technologies and something accessible in a not-too-distant future. Balance your understanding of current technology with a focus on realistic objectives and ground-up application development in directions that address the roots of your business challenges.

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4. Recalibrate your speedup expectations:

Avoid trying to accelerate processes that are already efficiently solved with classical computers. Instead, focus on problems that were previously deemed computationally impossible. While the future is unknown, quantum computers, as seen today, excel at making the impossible possible rather than simply speeding up existing tasks.

5. Quantum must be in the problem or in the solution process:

This is a bit more technical. Quantum computers are great generators of these quantum correlations, known as entanglement. Look for applications and algorithms where long-range entanglement plays a crucial role. This feature is often relevant in physics-related applications but also paramount for certain algorithms useful for “less science-y” problems, such as Shor's factoring algorithm. Without long-range entanglement or machines capable of generating it efficiently (i.e., analog and fault-tolerant machines), odds are that classical computers may suffice for your problem.

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 6. Embrace Unexpected Outcomes:

If engaging with a quantum computing company leads to the realization that a modern classical approach is better suited to your problem, consider it a positive outcome and part of the discovery process. These can also be part of the unforeseen dividends of engaging with quantum today.

In conclusion, quantum computing's true power extends beyond its future potential; it offers transformative opportunities today. Industry leaders who recognize this are positioned to reshape their narratives and transform their organizations into hubs of innovation. While the journey to quantum's full potential may be challenging, it also presents opportunities to redefine paradigms and sow the seeds of world-changing solutions. To visionary industry leaders, the call is to boldly venture into the quantum realm, engage deeply, and embrace the challenge with open arms. In doing so, you're not just preparing for the future; you're actively shaping it.