We previously shared initial findings from a study conducted by Hyperion Research. Their final research this week expanded insight to the quantum use cases identified by commercial organizations, along with the potential roadblocks end users see on their path to quantum.
It’s important to note the range of interest and exploration from commercial end users (CIOs and CTOs) across industries. Quantum computing is making the transition from a realm for academics and researchers to commercial applications.
Quantum Use Cases in Industry
The research spanned 19 verticals. The highest numbers of respondents came from computing, software, and internet companies. You’ll also see a range of non-technical industries actively moving forward in the exploration and application of quantum use cases. Each of them represent more than 10% of respondents and more than 40 organizations.
Financial Services (77) – 37% of respondents are working to analyze and prioritize quantum use cases, while 56% are exploring options and monitoring quantum developments with 30% conducting limited in-house pilot programs.
Retail/e-commerce (55) – 34% are analyzing and prioritizing quantum use cases, 26% are running proof of concept programs and nearly half are exploring options and monitoring quantum developments.
Advanced Manufacturing (55) – 42% are conducting proof of concept programs, 39% are analyzing and prioritizing use cases and 31% have fully funded research efforts.
Manufacturing Logistics (46) – 49% are exploring options and monitoring quantum developments, 25% have proof of concept programs underway, and 28% are analyzing and prioritizing use cases.
Across all verticals, the highest levels of involvement include exploring options (48%), analyzing and prioritizing quantum use cases (35%), and proof of concept programs (33%).
Hyperion also asked respondents to provide specific examples of applications they want to explore with quantum computers. The array of 30 use cases collected during the research (below) illustrates the breadth of interest in the power of quantum computing.
These use cases should give you ideas of programs to consider as you explore your path to quantum.
Reducing the Roadblocks to Investing in Quantum
When Hyperion asked respondents to identify the top hurdles seen for exploring and investing in quantum, a few stood out. None are unexpected, by the way.
A high commitment to existing budgets for classical technology is seen as a hurdle. The issue revolves around determining where in the budget organizations can allocate funds, vs. a resistance to making the investment.
A key point to note: respondents weren’t overly worried about business considerations, including demonstrating ROI.
One of the largest hurdles for respondents is the lack of specialized skills and domain knowledge.The challenge is to help these organizations incorporate quantum computing without a need for expertise they don’t currently have in house. It’s also creating a plan to reduce the disruption perceived in incorporating quantum into their current infrastructure.
It’s key for organizations to have enough support to bring quantum into their organizations with the least disruption as they increase their exploration and investments in quantum.
These results confirm our belief that enterprise users are less-than-excited about the level of investment, and corresponding risk, that quantum computing, especially software, demands. It’s why we developed Qatalyst ready-to-run software to eliminate the need for highly skilled quantum programming expertise as businesses work to solve complex computational and optimization problems.
The Bottom Line
Despite the attempts to naysay the state of quantum computing and its viability today, organizations are moving forward and solving complex problems using quantum, right now. Focusing on quantum use cases from molecular modeling to supply chain optimization, from risk assessment to fraud detection to Covid-19 analysis, organizations are exploring quantum computing and finding valuable insights.
As quantum computers scale and become more production ready, these early quantum computing explorers are already on the path to creating significant competitive advantage
Is it time for you to step onto your Path to Quantum?
You can download a copy of the final Hyperion Research report here.