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Journal of Innovation & Knowledge

Quantum computing for market research

Laura Sáez‐Ortuño, Rubén Huertas-García, Santiago Forgas‐Coll, Javier Sánchez, Eloi Puertas

Published Jun 29, 2024• 37 citations
Publisher

Abstract

The digital ecosystem continues to expand around the world and is revolutionising the way markets are researched. Indeed, consumer experiences are advertised and disseminated through so many channels and media that it has become a major challenge for researchers and marketing practitioners to collect, process and generate valuable information to support strategic and operational decisions. In this article, the authors explore how advances in quantum computing, which can be used to process huge amounts of data quickly and accurately, could offer an unprecedented opportunity for researchers to address the challenges of the digital ecosystem. Three studies are presented to define the state of the art and future expectations of quantum computing in market research and business. By means of a bibliometric analysis of 209 publications and a content analysis of the 30 highest-impact articles, we describe the present landscape, and also forecast the future with the help of in-depth interviews with eight experts. The findings reveal that the US and China are at the forefront of scientific development, but the contributions from four other countries (India, the UK, Canada and Spain) are also in double figures. However, graphical analysis identifies four poles of development: the US orbit, which includes Canada and Spain; the Chinese orbit, which includes India; the UK orbit; and the Australian orbit. In terms of expectations, the experts agree on the opportunities offered by quantum computing, but there is less consensus as to how long it will take to develop.

DOI
10.1016/j.jik.2024.100510

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The digital ecosystem continues to expand around the world and is revolutionising the way markets are researched. Indeed, consumer experiences are advertised and disseminated through so many channels and media that it has become a major challenge for researchers and marketing practitioners to collect, process and generate valuable information to support strategic and operational decisions. In this article, the authors explore how advances in quantum computing, which can be used to process huge amounts of data quickly and accurately, could offer an unprecedented opportunity for researchers to address the challenges of the digital ecosystem. Three studies are presented to define the state of the art and future expectations of quantum computing in market research and business. By means of a bibliometric analysis of 209 publications and a content analysis of the 30 highest-impact articles, we describe the present landscape, and also forecast the future with the help of in-depth interviews with eight experts. The findings reveal that the US and China are at the forefront of scientific development, but the contributions from four other countries (India, the UK, Canada and Spain) are also in double figures. However, graphical analysis identifies four poles of development: the US orbit, which includes Canada and Spain; the Chinese orbit, which includes India; the UK orbit; and the Australian orbit. In terms of expectations, the experts agree on the opportunities offered by quantum computing, but there is less consensus as to how long it will take to develop.
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Due to the rapid development of artificial intelligence (AI) technologies, marketing professionals are faced with a changing landscape that requires a comprehensive understanding of the potential and challenges of AI applications. Quantum computing processes are the basis for the future development of predictive analytics, as their ability to simultaneously provide many variants of events with different variations of their occurrence allows achieving reliability of up to 99.75%, even in conditions of irrationality. The relevance of the research is related to the state priority for the development of quantum technologies, as well as technological advances, in particular, ease of use and accuracy of the data obtained. The research is aimed at determining the combination of AI technologies with the use of quantum computing processes that is most suitable for the tasks of marketing analytics in order to increase the accuracy of forecasting consumer behavior and market mechanisms in the long term. The methodological basis of the research was scientific work in the field of marketing strategies, artificial intelligence, as well as descriptions of the basics of quantum computers, practical work of leading centers for the implementation of quantum computing in business processes. The theoretical basis is bibliometric analysis, theory of quantitative methods, theory of innovation. For the purposes of the research, literature was analyzed and various AI software products were systematized, a list of cases was provided and practical results in the field of quantum computing application in predictive analytics in the field of marketing were compared. Their impact on such marketing components as market analysis and forecasting, audience sentiment analysis, and offer personalization is assessed. The information base consisted of a study of 160 articles written in the field of predictive analytics based on AI for marketing purposes, as well as an assessment of 26 cases of the use of quantum computing in business processes both in Russia and abroad. The key focus of the research is a critical assessment of the benefits of implementing artificial intelligence technologies in conjunction with quantum computing processes in shaping marketing strategies, including long—term forecasts of consumer behavior and changes in market mechanisms. The result of the research is a framework for the introduction of artificial intelligence technologies in conjunction with quantum computing processes in the formation of marketing strategies.
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Quantum mechanics principles underpin quantum computing, signaling a major shift in how we process information. While it offers immense processing power and potential advantages, it also presents significant challenges for the cryptocurrency industry. This sector has grown rapidly, supporting decentralized finance and empowering users worldwide, but it also attracts malicious actors looking to exploit its vulnerabilities. Traditional cryptography remains strong, yet increasingly sophisticated computational attacks threaten security. As the cryptocurrency market expands, quantum computing offers both opportunities, such as improved transaction security, and risks, like easier decryption for hackers. Understanding quantum technology’s benefits and challenges is crucial as it develops. Currently, data is protected by traditional cryptography, but future, more powerful quantum computers could weaken this security. This article explores potential uses of quantum computing in daily life and business, explains its functions simply, and discusses societal impacts. Its goal is to help students and general readers understand how quantum technology might transform our world through clear language and real-life examples. Topics include the basics of quantum computing, its present and future applications across industries, and its societal effects. We provide a thorough analysis of how quantum computing could reshape society through mathematical insights, practical examples, and future perspectives.