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Majority of decision makers plan to harness quantum computing in near future

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Quantum computing, although far from readily available, is already considered a “powerful tool” for businesses with revenues of $1 billion and higher, claims a new report from D-Wave Systems.

The report states that large-scale businesses are turning towards quantum computing to solve problems with efficiency and productivity at an organizational level. They’re also looking to boost profitability, as well as solve large and complex business problems that can’t be solved with current technology.

More than a third of enterprises have abandoned projects within the last three years due to complexity, according to D-Wave, and almost all (97 percent) consider solving complex problems either very important or business-critical.

Businesses that haven’t already looked into the use of quantum technology risk falling behind the competition, many of whom are already exploring their options.

While 39 percent are already experimenting with quantum computing, more than eight in ten (81 percent) have an idea of how they might use the technology in the next three years.

“The study revealed that enterprises are interested in quantum computing and perceive it as providing a competitive edge. A surprisingly large number of organizations are already experimenting today, and the majority have use cases in mind for where quantum computing could make an impact,” said Owen Rogers, Research Director at 451 Research.

“Considering that enterprises are leveraging quantum computing to obtain a competitive advantage, those not experimenting now may be at a disadvantage in the future.”

“Respondents indicated that quantum computing isn’t just a mechanism for solving academic or theoretical problems – organizations’ interest in quantum computing is tied to driving a tangible, financial return.”