Why quantum computing matters for businesses

Quantum computing leverages the principles of quantum mechanics to process information in fundamentally different ways than classical computing. While classical computers use bits as the smallest unit of data, represented as either 0 or 1, quantum computers use qubits, which can exist in multiple states simultaneously due to superposition. Think of going from one or the other (binary coding) to one and another, at any point, across a great distance.

Quantum computers can help address complex, real-life problems that are currently intractable for classical computers. In December 2024, Willow, Google’s 105-qubit processor, achieved unprecedented error correction while scaling exponentially. In under five minutes, it performed a benchmark computation that would take the world’s current fastest supercomputer 10 septillion (10,000,000,000,000,000,000,000,000) years to achieve.

QuEra Computing recently unveiled a three-year roadmap targeting 100 logical qubits, while PsiQuantum announced an ambitious AU$940 million project to deliver a 1 million physical qubit system in Brisbane, Australia by 2027.

Numerous other advancements in quantum research have been driven by academic institutions, private companies and entities within the private sector worldwide. Universities such as MIT, Stanford and UC Berkeley have been at the forefront of groundbreaking research in areas like quantum algorithms, error correction and quantum hardware.

Preparing for a post-quantum world

As with any major technological advancement, businesses should be measured and strategic when driving toward adoption. But while quantum computing isn’t yet as widespread or readily available as AI, the ecosystem is fertile and active enough for organizations to start making progress in key areas.

Take cybersecurity, for instance. It’s true that quantum computers have the potential to break current encryption standards, which could threaten the security of sensitive data and communications. But quantum computing also provides the ability to build incredibly advanced security solutions such as quantum key distribution (QKD), which provides theoretically unbreakable encryption.

And despite a clear skills gap in quantum computing, companies are already building teams from the ground up that are not only well-versed in quantum mechanics, computer science and engineering, but are also agile enough to learn (and deliver) on pace with exponential innovation.

Every chief information security officer (CISO) is likely pondering the same question: Who will be ready first — the competition or us? The sooner your organization can start preparing for a post-quantum world, the better.

5 actions to help you get ready for quantum

1. Conduct a feasibility analysis — This is crucial to identify gaps in existing systems and controls, and to determine how quantum computing can provide advantages. Consider factors like computational requirements, data complexity and integration challenges.
2. Start small and experiment — Exploring small pilot projects can help businesses understand the potential and limitations of quantum technology without significant investment. Quantum-as-a-service (QaaS) platforms provide accessible and scalable quantum computing resources to test use cases and gain hands-on experience.
3. Build your ecosystem — By fostering a robust ecosystem of partnerships with academic institutions and startups, businesses can leverage the collective expertise of others to drive innovation. These collaborations are crucial for accelerating technology transfer, developing skills and creating industry-relevant quantum algorithms.
4. Develop your workforce — Organizations should focus on fostering in-house quantum literacy by training existing staff and hiring new talent with relevant skills. Training programs, workshops and certifications can help employees understand quantum principles, applications and the related risks and controls needed to address these risks.
5. Create a sector-specific roadmap — Outline short-term and long-term objectives, potential use cases and milestones for quantum adoption. For example, logistics companies might focus on improving supply chain management, while pharmaceutical firms could prioritize drug discovery and molecular simulations.

Take a responsible approach to quantum adoption

As with AI, responsible and secure development practices in quantum computing are clearly needed. "Trust by design" principles play a pivotal role in making sure that quantum technologies are developed and deployed responsibly, safeguarding both users and society at large.

The key to "trust by design" success is being proactive. Anticipating and designing against security vulnerabilities from the outset can help decrease risk and reduces the need for costly, disruptive patches post-deployment. Transparency about the capabilities, limitations and intended use of quantum technologies is crucial for building public trust.

Consider also how quantum computing may impact your power consumption and sustainability initiatives. With similar considerations around increased AI usage, you may already be looking into alternative or renewable energy sources. Note that quantum computers require far less energy than classical supercomputers.

The bottom line

Businesses today are navigating a landscape that shifts with unprecedented speed. Leaders should balance agility with long-term vision, investing in technologies that not only keep pace with disruption but also define it.

By integrating quantum solutions, businesses can enhance efficiency, reduce costs and create novel products and services that set them apart in the marketplace. Building a quantum-ready workforce through training existing employees, recruiting specialists and collaborating with academic institutions will help organizations equip themselves to innovate and lead.