The research also revealed that organisations are investigating quantum applications in their various sectors – and patenting their own quantum software intellectual property – in a big way, with businesses in the financial sector reporting the highest engagement and investment.
The research, conducted by Propeller Insights, polled more than 500 professionals at companies with 100 or more employees and across a range of leading industry sectors.
The data suggests that companies are forging ahead with quantum computing, according to Classiq CEO and co-founder Nir Minerbi, who suggest that the quantum race has already begun.
Eighty-three percent of those surveyed said their organisations have already started investing in quantum research and/or technology, with the sectors ranking the highest in quantum investment including: the finance sector (87%), the accounting arena (86%) and the medtech category (83%).
Increasingly countries around the world and organisations across sectors are putting time and resources behind quantum computing, according to Yehuda Naveh, Classiq CTO and co-founder.
“Steady advances in quantum computing, and the relatively low barrier of entry to explore this critical technology, have already made it possible for companies to build internal knowledge and create and patent IP-related quantum technology, which will have a tremendous impact on what organisations are capable of doing,” said Naveh.
Ninety-four percent of the businesses surveyed said that quantum will be beneficial to their industry. The manufacturing (94%) and tech (94%) sector survey data yielded equivalent results. An even larger share from the financial industry (96%) also said that they feel that way, and 90% of survey participants from the healthcare/life sciences sector expect quantum computing to benefit their industries.
Most companies expect quantum computing to be critical to how they do business. Ninety-four percent of the total survey group said that quantum will inform their organisation’s daily decision-making on matters such as budgeting, forecasting, staffing and strategy.
According to the survey, that share rose to 97% for financial sector survey participants. In fact, nearly half (49%) of financial sector respondents said quantum will inform their businesses’ decision-making by the end of 2022.
A quarter of companies from all sectors said that quantum computing technology is already involved in their decision-making. Nearly three-fourths (72%) of companies polled indicated that quantum computing will figure into their daily decision-making within five years.
To move their quantum computing strategies forward, the majority (86%) of all organisations surveyed said they are currently hiring quantum computing talent. An even larger share (91%) of respondents in the financial sector said they are hiring quantum computing talent.
With demand exploding for quantum talent, 83% of survey respondents in the high-tech arena said that quantum computing should be included in science, technology, engineering and mathematics (STEM) to widen the pool of future talent for this emerging technology. In fact, 97% of financial sector respondents said that they would advise a colleague, family member or friend interested in a computer science degree to take quantum computing courses.
Given the recent surge in quantum patent applications and grants, and the ongoing efforts in this realm, organisations that fail to build and quickly protect their quantum intellectual property face the significant risk of being fenced out – or having to pay hefty licensing fees.
Ninety percent said quantum could be an important source of intellectual property for a company. Seventy-one percent said that their organisation is either patenting or has plans to patent quantum software-related intellectual property.
Quantum is seen as strategic technology with serious business and national security implications and this emerging technology is set to play a critical role in business, and the competitiveness and security of nations.
But as quantum computing continues to evolve, many fear the implications that could have on cybersecurity. Interestingly, the vast majority (92%) of survey participants think that quantum computers will have the ability to crack today’s encryption technology within three years.
In conclusion the report suggests that businesses are beginning to realise and understand the impact of quantum computing going forward, but that businesses and governments need to start prioritising and investing in quantum.
It would be interesting to see whether a similar attitude towards quantum exists here in the UK and in Europe.
