Are You Ready for Quantum Computing?

Rolando Somma

Saeed Awadh Bin‐Nashwan, Jackie Zhanbiao Li, Anas Rasheed Bajary +1 more

Purpose The financial services sector is on the brink of a substantial transformation as quantum computing (QC) promises unprecedented speeds for processing data, particularly in the areas of accounting, risk management, trading and fraud detection. Such cutting-edge technology transforms how financial institutions handle large volumes of financial data and intricate transactions by leveraging qubits to conduct complex computations exponentially faster than classical computers. However, the crucial question here is as follows: Are financial firms ready to adopt quantum technology? This study aims to examine QC adoption intention and technological readiness for QC adoption (TRQA) among accounting and auditing firms (AAFs). Design/methodology/approach This study used an online validated and reliable survey to estimate an integrated model of technology–organization–environment-technology acceptance model-resource dependence theory. It gathered responses from AAFs and analyzed them using partial least squares structural equation modeling. Findings The research revealed that QC adoption intention in the financial services sector was fostered by vendor ecosystem, competitive pressure, government support, relative advantage, top management support and perceived usefulness. In contrast, ease of use failed to report such a result. Behavioral adoption intention was found to be a positive driver for TRQA. The inclination to embrace QC in the accounting and finance sector could encourage efforts to build the necessary skills and resources, thereby improving technological preparedness and enabling organizations to fully leverage the advantages of quantum technology. Results also showed that organizational innovation climate-moderated interaction of QC adoption intention on firms’ TRQA was significant. Originality/value To the best of the authors’ knowledge, this attempt is likely among the first to empirically investigate technological readiness for the adoption of QC. It not only advances scholarly conversations on QC but also delivers actionable strategies for stakeholders to boost businesses’ readiness for this emerging revolutionary technology.

Lizy K. John

Elena Yndurain

R ather than waiting for quantum computing to fully mature, enterprises should concentrate on testing the technology and becoming ready as soon as possible. We have already reviewed how they should get ready for the downsides of quantum computing security risks by creating a strategy to update their encryption schemes.

Marten Teitsma, Ahmed, Iftikhar, Julian van Velzen

Setting out a path to use quantum computing within a company is not as straightforward as the implementation of classical ICT-projects. The technology is fundamentally different and not mature yet, which makes the development and use uncertain, non-linear and more complex. Being also a potential disruptive technology makes it for a company important to be aware of the possible business value generated by using quantum computing and be prepared for taking this technology in production. In this article we present Quantum Organisational Readiness Levels to determine the degree of readiness for implementation of quantum computing.