Quantum Computing Utility Will Be Achieved Within A Decade
Quantum industry professionals are overwhelmingly optimistic that quantum utility will be achieved within the next decade, research from Economist Impact reveals.
According to the study, which surveyed quantum professionals across the UK, Europe, North America and Asia, a huge 83% think quantum utility, when quantum computers will overcome hardware and error correction challenges to perform better than classical computers, will be realised within ten years or fewer.
Of this figure, one third believe it will be reached within one to five years. Just 3% of respondents believe quantum utility remains more than 30 years away, countering claims made, and then rescinded, from NVIDIA CEO Jensen Huang earlier this year.
However, despite this optimism, challenges in technical development, talent acquisition, and executive-level understanding persist, which must be overcome to support quantum’s development.
Board-level Understanding Is Barrier To Progress
The survey highlights three major challenges facing quantum advantage, the moment when quantum technologies will be ready to implement into business end-users’ daily operations:
- 82% cite overcoming technical challenges, particularly error correction, as a key hurdle.
- 75% identify a shortage of talent and expertise as a critical issue.
- 75% say lack of understanding at board level is holding back adoption.
- 57% of respondents believe misconceptions about quantum computing are actively hindering advancement.
The findings suggest a disconnect between technological development and business readiness, reinforcing the need for better communication, education, and alignment at the executive level to maintain the momentum of progress.
Quantum Can Drive Advances In Sustainability Goals & Energy Optimisation
The potential impact of quantum computing is not limited to commercial gains. It is increasingly viewed as a critical enabler of sustainability and energy resilience, a key priority for global infrastructure as energy demands and decentralisation increase.
Three-quarters of respondents identified climate modelling and monitoring and power grid optimisation as two core ways quantum computing will boost sustainability. Beyond sustainability, the earliest use cases are forecasted in drug discovery and materials science (62%), and communication networks and cybersecurity (57%). These are sectors where the need for complex simulation and optimisation is well aligned with quantum’s unique capabilities.
We are already seeing industry leaders like HSBC introducing quantum-safe cryptography into their operations.
Bridging Technology Potential and Business Value at Commercialising Quantum
In comment, Helen Ponsford, Head of trade, technology, and industry events programming at Economist Impact, said “With 80% of respondents stating that demonstrating industry-specific use cases is essential to accelerating adoption, and two-thirds highlighting the importance of proving return on investment....
..the message is clear: commercial relevance must closely follow scientific breakthroughs for quantum to sustain its growth."
Image: Planet Volumes
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