97% of UK business leaders expect Quantum Computing to disrupt their industries

A report published yesterday by EY found that a significant number (97%) of UK business leaders expect quantum computing to disrupt their industries to a high or moderate degree.

The EY Quantum Readiness Survey 2022 contains the answers of 501 executive-level business leaders to a series of questions about the impact of quantum computing on UK businesses.

It found that in the UK, almost all (97%) of executives surveyed expect quantum computing to disrupt their industries to a high or moderate degree. In addition, about half (48%) believe that quantum computing will be mature enough to play a significant role in the operations of most companies in their respective industries by 2025. Yet only a third (33%) of organizations have begun strategic plans to prepare for the commercialization of the technology. In addition, only 24% have organized pilot teams to explore its potential or are currently working to do so.

If current trends continue, “Quantum Computing is likely to cause disruption sooner than many people think,” said Harvey Lewis, associate partner, client technology & innovation, Ernst & Young LLP, in a statement. press release† “For some organisations, this offers enormous opportunities. Significant risks to others,” he said.

“Whether a company thrives or fails in the coming years, in our view, will depend on its overall readiness as determined by a range of commercial and technology-related factors, which we measured through a combination of quantitative and qualitative research in this study,” added Lewis ready.

The view on when quantum computing will be sufficiently mature to have an impact differs per sector. The number of industries already engaged in quantum computing is “remarkable,” said Dr. Simon Plant, deputy director for innovation, National Quantum Computing Center (NQCC). In the foreword to the report, Plant said that quantum technologies are just emerging, “but in recent years progress has been rapid.” He added that quantum technologies “hold the potential to unlock new, disruptive possibilities in computing, communication, sensing and more.”

Other key findings:

  • 72% of technology, media and telecommunications (TMT) respondents say future cryptography-related tasks are their top priority for using quantum computing and related technologies
  • 56% of advanced manufacturing companies have started strategic planning
  • 97% of organizations plan to conduct strategic planning regarding the use of quantum computing within the next five years

The report reiterated that quantum computing technology is “maturing rapidly” and that UK organizations “need to prepare”. The report states that companies and government agencies that are preparing should consider taking the following steps:

  1. Monitor for signals of disturbance
  2. Evaluate your organization’s readiness
  3. Research and explore use cases
  4. Reach the ecosystem
  5. Educate, educate, educate.

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