Quantum computing is calling

D-Wave Systems commissioned 451 Research, part of S&P Global Market Intelligence, to investigate enterprise attitude and appetite with regard to quantum computing. The survey includes unique data and insights on how enterprise organizations are engaging with quantum computing today and how they want to be engaging with the powerful technology in the near future, ultimately concluding that quantum computing is emerging as a powerful tool for large-scale businesses, the majority of which generate over $1 billion in revenue.

The surveyed businesses reported priorities such as increasing efficiency and productivity at an organizational level, boosting profitability, and solving large and complex business problems that may not be solvable with current methods, tools, and technology. Based on findings drawn from hundreds of enterprise decision-makers, the survey reveals now is the time for executives to take quantum computing investment seriously, because the competition is already exploring how to solve complex problems and gain first-to-market advantages.

REDEFINING BUSINESS NEEDS TODAY

Global industry leaders across fields – from transportation to pharmaceuticals to financial services – are now looking to quantum computing to rethink business solutions and maintain competitive advantage over their peers.

The survey found that while 39% of surveyed enterprises are already experimenting with quantum computing today, a staggering 81% have a use-case in mind for the next three years. High on the agenda for critical business benefits via quantum are increased efficiency and improved profitability, followed closely by improved processes, productivity, revenue, and a faster time to market for new products.

Efficiency is particularly critical to business leaders because enterprises often suffer productivity losses when tackling complex problems. In fact, over a third of enterprises have abandoned complex problems in the last three years due to time constraints, complexity, or a lack of capacity. Yet, 97% of enterprises rate solving complex problems as high importance or business-critical. Therein lies the rub: today’s computing technology is not adequately meeting large-scale business’ needs.

THE BIG QUANTUM OPPORTUNITY

Also importantly, the survey found that business leaders believe quantum computing is uniquely positioned to solve complex optimization and efficiency problems for businesses today. The majority of businesses surveyed are already using large-scale computations today for resource scheduling, financial forecasting and risk assessment, optimization problems, and logistics management – or a combination of these types of problems. Artificial intelligence and machine learning, materials science, fluid dynamics, chemical engineering, and pharmaceutical development are additional problem types that businesses are using large-scale computations to solve for today.

D-Wave has already seen 250+ early customer applications built on their on-premise systems and via Leap, their quantum cloud service. The early practical business benefit that D-Wave customers are experiencing aligns with surveyed enterprise decision-makers’ expectations as well. Longer-term, enterprises see quantum computing as having a significant or even transformational impact on their organization and the world around them:

• Fifty-seven percent of surveyed decision-makers regard the potential of quantum computing to their organization as significantly impactful;
• Sixty-one percent regard the impact of quantum computing to their industry as significantly impactful;
• Seventy-five percent of those surveyed regard quantum computing’s effect on society as significantly impactful and even transformational.
  

“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,” commented Owen Rogers, Research Director, 451 Research, part of S&P Global Market Intelligence. “Considering that enterprises are leveraging quantum computing to obtain a competitive advantage, those not experimenting now may be at a disadvantage in the future.” Rogers noted additionally that “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.”

“Quantum computing is poised to fundamentally transform the way businesses – especially large-scale enterprises – solve critical problems,” said Alan Baratz, CEO of D-Wave. “As enterprise leaders and decision-makers rethink business processes to become more agile and innovative, they need the tools and support to turn their ideas into quantum applications that have a real impact on their business. Whether the goal is improved efficiency for a global manufacturing company, increased revenue for a financial services firm, or faster time to market for new pharmaceutical therapies, D-Wave is committed to unlocking these new opportunities for businesses across diverse industries.”