This small study shows that quantum-savvy enterprise leaders are 70% more likely invest in workforce development than any other business leaders.
Quantum computing is no longer an R&D effort and has become a tool to gain competitive advantage within the next few years, According to a survey by Zapata Computing. Survey of 300 IT leaders showed that 28% of them invest more than $1million per year in quantum efforts. 37% of early adopters spend more.
Although quantum computing may not be mainstream yet, it is on the horizon. This survey revealed that 69% percent of businesses around the world have adopted or plan to adopt quantum computing within the next year. Nearly one-third of all market participants have already adopted some form of quantum computing, with 29%.
Christopher Savoie is the CEO of Zapata. He stated in a press statement that he can already see how the leaders of quantum adoption are breaking away from the rest.
He said that “they are beginning to build solutions which strategically leverage today’s quantum devices within mostly classic applications.” “Those that are the furthest ahead aren’t just investing in quantum to avoid losing — they’re playing to win.”
According to the survey,
- 41% expect a competitive edge within two years for quantum adopters
- 36% of US respondents are at the beginning or advanced stages in quantum adoption
- The transportation industry has the highest adoption rates
- Machine learning is the most used case
- At 44%, German companies are most confident in achieving quantum competitive advantage within two years. Next is Canada at 38%, Australia at 33%, and the UK at 33%. The US comes in at 31%.
According to the survey, 12% expect to attain some form of competitive advantage within one year and 41% within two years.
According to the survey, early adopters of quantum computing are taking these steps in preparation for it.
- 51% spend their time identifying talent, and building an internal team.
- 49% of respondents are building proof-of-concept projects and are currently experimenting
- 48% of them are conducting experiments with quantum hardware and simulators
- 46% are creating new applications
The quantum leaders who are the most knowledgeable about quantum computing are 70% more likely to invest in it for workforce development than all other enterprise leaders. This is a natural result of the shortage of tech talent in a new area like quantum computing.
Nir Minerbi is the co-founder and CEO at Classiq. He said that another factor hindering the industry’s growth was the lack of talent.
McKinsey has estimated that by 2025 there will be a demand to fill approximately 10,000 positions. Supply will however be lower than 50%, according to him. “Only 2030 will supply catch-up with demand.”
Minerbi indicated that outsourcing is a short-term solution to the problem.
He said that while outsourcing may be able to alleviate the immediate problem, it doesn’t help in developing internal quantum expertise or IP that stays within the company.
Classiq’s Quantum Algorithm Design platform automates the process of converting high-level functional models into optimized quantum circuits.
Zapata also found complexity to be the greatest barrier to adoption. 96% of respondents were unable explain the technology with just a brief summary.
Other concerns, such as integration of quantum computing with existing enterprise IT systems and concerns about vendor lock in, were found to be more common. 96% of survey respondents said they needed help from vendors to implement quantum computing, but 73% were also concerned about vendor lock-in. 39% see this as a barrier.
Wakefield Research conducted a survey of 300 executives (CIOs, Chief Technology Officers and other VP-level and higher executives) in large global companies with an estimated 2021 revenue of more than $250 million and computing budgets exceeding $1 million.