23% of organizations are planning to use quantum technologies

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Organizations are increasing investment and exploration in quantum technologies with expectations of first commercial applications in 3-5 years, as per Capgemini Research report. The report identifies 23% of organizations globally are currently working on or planning to use quantum technologies, moving from scientific research into real-world solutions. Furthermore, 20% of organizations are expecting to increase investments in technology in the next year. It further says, China (43%) and the Netherlands (42%) have the largest share of companies working on or planning to work on quantum technologies, well ahead of Germany and the UK (each on 26%), versus 23% on average globally. These companies intend to leverage the tech in a number of ways, from improving sustainability in operations, and discovery of new materials for battery manufacture, to securing information, through medical sensors and mitigating harmful industrial gases. Financial services organizations are using quantum technologies for more accurate pricing of risky assets, optimizing portfolios for better returns, and detecting frauds. In addition, Life Sciences companies are attempting to shorten the drug-development cycle using quantum computing.

The Quantum technologies have reached different levels of maturity in terms of expected applications such as:

1. Quantum computing has the highest potential of all quantum domains but it is also the least mature. The pace of development has accelerated, driven by investor interest, expanding use cases and technology breakthroughs. On average, a majority of organizations working on quantum believe that the first commercial quantum computing applications are five years away;

2. Quantum communications could address the new requirements of information security, in particular to secure information exchange with external parties, protect critical infrastructure (IoT and cloud-enabled technologies) within the organization or secure c.

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    Organizations are increasing investment and exploration in quantum technologies with expectations of first commercial applications in 3-5 years, as per Capgemini Research report. The report identifies 23% of organizations globally are currently working on or planning to use quantum technologies, moving from scientific research into real-world solutions. Furthermore, 20% of organizations are expecting to increase investments in technology in the next year. It further says, China (43%) and the Netherlands (42%) have the largest share of companies working on or planning to work on quantum technologies, well ahead of Germany and the UK (each on 26%), versus 23% on average globally. These companies intend to leverage the tech in a number of ways, from improving sustainability in operations, and discovery of new materials for battery manufacture, to securing information, through medical sensors and mitigating harmful industrial gases. Financial services organizations are using quantum technologies for more accurate pricing of risky assets, optimizing portfolios for better returns, and detecting frauds. In addition, Life Sciences companies are attempting to shorten the drug-development cycle using quantum computing.

    The Quantum technologies have reached different levels of maturity in terms of expected applications such as:

    1. Quantum computing has the highest potential of all quantum domains but it is also the least mature. The pace of development has accelerated, driven by investor interest, expanding use cases and technology breakthroughs. On average, a majority of organizations working on quantum believe that the first commercial quantum computing applications are five years away;

    2. Quantum communications could address the new requirements of information security, in particular to secure information exchange with external parties, protect critical infrastructure (IoT and cloud-enabled technologies) within the organization or secure c

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    Rapid developments in quantum computing, such as IBM's Quantum Condor processor with a 1000 qubit capacity, have prompted experts to declare that the fourth industrial revolution is about to make a “quantum leap”.

    The exponential processing capability of a quantum computer is already being welcomed by governments and corporations. New drug discovery, more in-depth and faster analytics for financial trading, increased efficiency in supply chain management systems, and many other exciting and cutting-edge applications are all possible thanks to the ongoing transition from academic and physics principles to commercially available solutions.

    Quantum computing will enable great innovations in the future, but it will be accompanied by diverse risks. The potential of quantum computers to break the current security of common activities in our daily lives could have severe consequences. The quantum cybersecurity threat will increase data breaches of sensitive health and financial personal data, challenge the integrity of digital documents, and break certain cryptocurrency encryption.

    Whereas, Quantum cryptography is a method of encryption that uses the naturally occurring properties of quantum mechanics to secure and transmit data in a way that cannot be hacked. Cryptography is the process of encrypting and protecting data so that only the person who has the right secret key can decrypt it.

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