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SPIE Quantum West

Markets for Quantum Enabled Devices

Matthew Langione

Published Mar 4, 2021• 1 citation
Publisher

Abstract

Matt Langione, a Principal at the Boston Consulting Group, authored one of the most frequently cited publications on the topic of quantum computing’s value to business and society, “Where Will Quantum Computers Create Value –and When?”, which forms the basis for a TED talk that will be released in 2021. As part of BCG’s “deep tech” initiative, he advises Fortune 500 companies on building quantum computing into their digital transformation roadmaps and is writing a series of articles on the topic by industry (“Will Quantum Computing Transform BioPharma RD?” and “It’s Time for Financial Institutions to Place Their Quantum Bets” are the first installments). He has addressed audiences at all the major conferences in the field (Q2B, IBM Q Summit, AI World, IEEE). He is a member of the U.S. Government’s Quantum Economic Development Consortium (QED-C). Beyond quantum computing, Matt publishes regularly on AI, startups and other topics at the nexus of science, business and policy.

DOI
10.1117/12.2593554

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Matt Langione, a Principal at the Boston Consulting Group, authored one of the most frequently cited publications on the topic of quantum computing’s value to business and society, “Where Will Quantum Computers Create Value –and When?”, which forms the basis for a TED talk that will be released in 2021. As part of BCG’s “deep tech” initiative, he advises Fortune 500 companies on building quantum computing into their digital transformation roadmaps and is writing a series of articles on the topic by industry (“Will Quantum Computing Transform BioPharma RD?” and “It’s Time for Financial Institutions to Place Their Quantum Bets” are the first installments). He has addressed audiences at all the major conferences in the field (Q2B, IBM Q Summit, AI World, IEEE). He is a member of the U.S. Government’s Quantum Economic Development Consortium (QED-C). Beyond quantum computing, Matt publishes regularly on AI, startups and other topics at the nexus of science, business and policy.
Fintech veteran and venture capitalist, Arunkumar Krishnakumar, cuts through the hype to bring us a first-hand look into how quantum computing and Blockchain together could redefine industries and life as we know it. Key Features Take a practical perspective on quantum computing and Blockchain technologies and their impacts on key industries Gain insights from experts who are applying quantum computing or Blockchain in their fields See where quantum computing and Blockchain are heading, and where the two may intersect Book Description Are quantum computing and Blockchain on a collision course or will they be the most important trends of this decade to disrupt industries and life as we know it? Fintech veteran and venture capitalist Arunkumar Krishnakumar cuts through the hype to bring us a first-hand look into how quantum computing and Blockchain together are redefining industries, including fintech, healthcare, and research. Through a series of interviews with domain experts, he also explores these technologies' potential to transform national and global governance and policies – from how elections are conducted and how smart cities can be designed and optimized for the environment, to what cyberwarfare enabled by quantum cryptography might look like. In doing so, he also highlights challenges that these technologies have to overcome to go mainstream. Quantum Computing and Blockchain in Business explores the potential changes that quantum computing and Blockchain might bring about in the real world. After expanding on the key concepts and techniques, such as applied cryptography, qubits, and digital annealing, that underpin quantum computing and Blockchain, the book dives into how major industries will be impacted by these technologies. Lastly, we consider how the two technologies may come together in a complimentary way. What you will learn Understand the fundamentals of quantum computing and Blockchain Gain insights from the experts who are using quantum computing and Blockchain Discover the implications of these technologies for governance and healthcare Learn how Blockchain and quantum computing may influence logistics and finance Understand how these technologies are impacting research in areas such as chemistry Find out how these technologies may help the environment and influence smart city development Understand the implications for cybersecurity as these technologies evolve Who this book is for This book is for tech enthusiasts – developers, architects, managers, consultants, and venture capitalists – working in or interested in the latest developments in quantum computing and blockchain. While the book introduces key ideas, terms, and techniques used in these technologies, the main goal of this book is to prime readers for the practical adoption and applications of these technologies across varies industries and walks of life.
BM is betting on quantum computing, but it can't win without the help of startups. And how long it will take for the bet to pay off is anybody's guess. That was the message of the Q Summit, a one-day meeting of quantum-computing researchers, investors, and entrepreneurs hosted by IBM in Menlo Park, Calif., in April. Quantum computing would open the door to a new universe of problem solving, and it could disrupt some conventional digital technologies. The potential is big, but the risks are huge.
Abstract This chapter explores the ongoing substantial financial investments required for developing and commercializing quantum computing technology. Given the field’s high uncertainty and long-term potential, investments are crucial for advancing breakthroughs in cryptography, materials science, and complex system simulations. The chapter examines the rise of quantum computing funding from the private equity and venture capital standpoints, highlighting key players like IBM and Google and emerging firms such as Rigetti and IonQ. It provides a detailed analysis of private funding trends, valuations, and geographic distribution, underscoring the sector’s growth despite market volatility and regional concentration challenges. It also focuses on the discrepancies in funding allocation and performance among startups and the significant role of established companies like Microsoft, Google, and IBM in shaping the industry. Looking ahead, the chapter emphasizes the need for innovative financial models to assess investment returns, considering the nascent nature of quantum technology and the scarcity of financial data from private firms.
This paper presents a formative market assessment of the quantum computing landscape in terms of market readiness of the technologies and the reported levels of investments. The findings presented in this paper are based on a quick scan of available literature combined with a perceptual map of the state-of-play. The paper considers the role of ‘big tech’ companies, the start-up ecosystem, and funding by nation states to identify key implications for the future of quantum computing developments. It highlights that although quantum computing technologies offer scope to revolutionise computing hardware and software, the development of a universal quantum computer will require breakthroughs in several areas including improvements in the quality of qubits, error correction, and demonstrable set of practical applications.
Quantum computing is the first digital support technology we explore in this book in more detail. It is sometimes portrayed as brilliant scientists exploring the most obscure natural phenomena in exotic laboratories and aiming to build very powerful science fiction supercomputers that are practically capable of doing anything. But this public perception has been changing lately since various tech companies around the world have invested in this technology to apply it to real-life business problems and explore potential use cases. Among them are Google, Microsoft, IBM, and Honeywell, for instance, just to mention a few pioneers in this ongoing field of industrial research. They frequently report on their latest achievements, highlight current business applications, and emphasize the great prospects of this digital technology. Even The New York Times picked up this trend lately and described quantum computing as one of the most “jazziest and most mysterious concepts of modern science” [1].
This talk will discuss how the Quantum “industry” might develop based on fifty-some years of laser industry history. Doing so is not easy given we have to parse through truth and over-exuberant truth on quantum computing. Initial growth of the laser industry came from the development of new lasers and instruments to enable RD. Growth accelerated as real applications were adopted. Funding for quantum technology development will come from governments and big-tech. There will be ample startup companies to supply tools but only a few will succeed. The likelihood is there will be more mergers and tech transfer.