With AI and machine learning continuing their wide-ranging transformation of the business world, late adopters struggle to keep up. Unfortunately for them, another potentially revolutionary technology innovation lies right around the corner, as quantum computing enters the mainstream.
In fact, many industry pundits forecast the first business-ready quantum systems to hit the market by 2030.
Let’s examine the status of quantum computing as it prepares to move from the lab to the data center. Leverage these insights to ensure your organization stands ready to benefit from this emerging state of the art. After all, expect the early adopters to enjoy a significant competitive advantage compared to the rest of the field.
Why Do CIOs Need a Quantum Computing Strategy?
The Financial Promise of Commercialized Quantum Computing Technology
A recent analysis by the strategic consulting firm, McKinsey, forecast the potential financial impact of quantum computing. They predict the overall market size for the quantum computing industry to reach $173 billion by 2040. In addition to quantum computing, this valuation also includes quantum communication and quantum sensing technologies. Needless to say, the opportunities remain quite attractive for tech companies targeting this sector over the next 15 years.
As of the end of last year, investments in quantum computing tech reached $6.7 billion. Notably, global governments announced future investments in this area of $42 billion. The private funding largely resulted in the creation of 261 startup organizations working on various development initiatives. McKinsey forecasts quantum computing to derive nearly $2 trillion in value in chemical, life sciences, financial, and mobility sectors.
Talent with Quantum Computing Expertise being Developed at Colleges
Of course, developing technology professionals with the skills for quantum computing requires help from colleges and universities. At the time of the McKinsey study, 55 master’s degree-level programs in quantum technology exist. Additionally, nearly 200 universities have research groups focused on this emerging tech. Expect these numbers to increase as the underlying concepts get closer to commercialization.
A High-Level Overview of the Applications for Quantum Technology
Simply stated, quantum computing takes microprocessor horsepower to an astronomic level. In fact, the current AI revolution might be even more impactful if not for the current chip shortage. Expect quantum technology to power the development and implementation of artificial general intelligence, among other use cases.
Quantum sensing and quantum communication also make similar processing improvements over current sensor and communication technologies. Pundits predict all three technologies to advance on similar timeframes, considering their likely codependence.
Connect With the Experts at The CERES Group
If your company wants to be ready for the quantum computing revolution, connect with the experts at The CERES Group. As one of the top technical staffing agencies in Boston, we provide exceptional candidates to power your success. Schedule a meeting with us to discuss your current and future hiring needs.
