Early investment in quantum computing could result in a competitive advantage

Improved AI capabilities, accelerated business intelligence, and increased productivity and efficiency were the top expectations of organizations currently investing in cloud-based quantum computing technologies, according to IDC.

Users are very optimistic

Initial survey findings indicate that while cloud-based quantum computing is a young market, and allocated funds for quantum computing initiatives are limited (0-2% of IT budgets), end-users are optimistic that early investment will result in a competitive advantage.

The manufacturing, financial services, and security industries are currently leading the way by experimenting with more potential use cases, developing advanced prototypes, and being further along in their implementation status.

Easy access to quantum computing

Complex technology, skillset limitations, lack of available resources, and cost deter some organizations from investing in quantum computing technology. These factors, combined with a large interdisciplinary interest, has forced quantum computing vendors to develop quantum computing technology that addresses multiple end-user needs and skill levels.

The result has led to increased availability of cloud-based quantum computing technology that is more easily accessible and user friendly for new end users. Currently, the preferred types of quantum computing technologies employed across industries include quantum algorithms, cloud-based quantum computing, quantum networks, and hybrid quantum computing.

“Quantum computing is the future industry and infrastructure disruptor for organizations looking to use large amounts of data, artificial intelligence, and machine learning to accelerate real-time business intelligence and innovate product development. Many organizations — from many industries — are already experimenting with its potential,” said Heather West, senior research analyst, Infrastructure Systems, Platforms, and Technology at IDC.