5 years until the corporate quantum, but your preparation begins now

Quantum computing technology is advancing rapidly and is well on its way to solving extremely complex business problems through improved optimization, machine learning and simulation. Make no mistake, technology promises to be one of the most disruptive of all time. In fact, I believe quantum computing will give a significant competitive advantage to companies that can successfully harness its potential to transform their businesses and industries.

As quantum technologies mature, businesses are already gearing up, with spending on quantum computing expected to rise from $ 260 million in 2020 to $ 9.1 billion by 2030, according to a Tractica study. Companies aggressively pursue the promise of quantum, as evidenced by recently announced the combination of Honeywell Quantum Solutions and Cambridge Quantum Computing.

With enterprise quantum applications expected to arrive in just five years, it is important that companies begin to prepare now by developing a business and IT strategy that enables quantum innovation at high speed and at scale.

To date, the majority of companies that have started exploring quantum computing have conducted niche R&D in the lab. However, companies that explore opportunities for quantum in their current business processes are the ones that will benefit the most in terms of business readiness. Being quantum prepared means balancing your efforts between defining your overall quantum strategy and developing practical use cases. It also means planning for both quantum-inspired systems and true quantum systems.

Four steps for better experimentation

Here are four essential steps that companies must take to ensure the success of their planning and quantum experiments:

1. Find out what quantum can do and decide where it applies to your business.

Imagine how you could improve your business strategies if you were able to solve problems that were once considered intractable. This is what the quantum makes possible.

The starting point for any quantum journey, then, is to understand the implications of technology for your industry and your business. Identify and prioritize the business problems in your organization that are best addressed by quantum optimization, machine learning, or sampling / simulation applications. Then use your current implementation as a benchmark or find an academic model for the problem, examining the data requirements and documenting the gaps. You can then choose one or more quantum use cases depending on the strategic fit and potential for business value.

Use your own existing data and algorithms as a benchmark for your business experimentation and select or adapt the right quantum algorithms to test your selected use cases. Finally, study the quantum ecosystem to shortlist strategic partners with quantum assets and methods to help your business develop the necessary capabilities.

2. Building a roadmap for quantum innovation

Taking a longer-term view of the quantum computing journey in business will generate more benefits and business value. It means defining the link between your organization’s quantum agenda and broader business strategies. Ideally, set up a feedback loop where business strategies help prioritize the results of the quantum program and where the quantum program informs new strategies.

The longer-term vision also includes the development of a multi-year quantum innovation roadmap with initiatives underway. Developing a roadmap will help you formulate and execute your enterprise-centric, IT-driven quantum strategy and ensure that you can start realizing value the moment the technology matures.

The roadmap is also useful in helping to identify the leadership support and governance that your quantum projects will need. If you are creating an internal practice, define the target operating model required to launch and execute quantum initiatives, including security and change management.

3. Evaluate quantum hardware and software and start experimenting

It’s difficult to navigate the rapidly evolving quantum ecosystem, with a growing variety of vendors, academic institutions, startups, and cloud-based service providers. Selecting the right company is about identifying those that can understand your specific business use cases and provide the kind of quantum technology you need for your specific strategy.

A challenge can be making long-term commitments to quantum partners. Until recently, hardware and software vendors have focused on finding a few high-value, strategic collaborators, as evidenced by their access agreements or license terms, long subscription models, or subscription programs. research. This model excludes most companies that prefer to engage in short or medium term projects to test technological hypotheses without long term technological commitment.

Fortunately, hardware vendors have started offering pay-as-you-go models through major cloud service providers. Pay-as-you-go has lowered the barriers for businesses to experiment with quantum today. The key now is to create a technology stack that summarizes the specific hardware selection, allowing your organization to focus on the business problem.

4. Find or develop quantum talent

Quantum skills span a spectrum from academics (scientists and quantum physics researchers who understand hardware, algorithms, and system) to development (software coders who can connect algorithms, libraries and services and create business applications or product interfaces).

Start by determining the mix of skills your business will need to design quantum solutions, and prepare for a significant investment in training over several years. A faster option is to seek out external talent from the quantum ecosystem through partnerships with universities, vendors, or a trusted quantum service provider.

Quantum computing is coming – get ready now

Quantum computing is on the right track. When it does, it will catalyze sudden and rapid change and bring further disruption to the competitive landscape. It is therefore crucial that you prepare your business strategy now and take advantage of the growth potential that quantum will offer as it matures.

Marc Carrel-Billiard is Senior Managing Director of Technology Innovation at Accenture and Co-Author of Accenture’s “Prepare for quantum impact” report. Follow him @mcarrelb.