Quantum computing could be on the market by 2030
The future of computational calculation is undoubtedly quantum computing; this new technology has been under development for almost twenty years and is (finally) approaching market launch. According to a recent report, this should happen no later than 2030 and so more and more companies are starting to take an interest in it.
Naturally, it will take some time before quantum computers are able to achieve what is known as fault tolerance, when they will be deemed completely reliable, but anyone wishing to adopt this technology needs to develop suitable strategies for introducing it into their business model as soon as possible.
Investment and cloud-computing services
In recent years, the focus on quantum computing has intensified, resulting in a veritable transfer of investment. At first, it was mainly start-ups who favoured this new solution, but nowadays it is mainly large investors who are showing a willingness to take a chance on it.
Despite most research funding for quantum calculus coming from public sources (around 30 million dollars in total), in the last year, private investors have also become convinced that it is worth considering the opportunities it offers. In 2021 alone, 1.7 billion dollars were invested, which is more than double the amount invested over the preceding twenty years, with a total of 3.3 billion invested since 2001.
Among the most active countries in that regard are Canada, the United Kingdom and the United States, which account for almost 90% of the funding mentioned above. China, however, has already announced its intention to allocate 15 billion dollars to the development of quantum computing technology, followed by the European Union with 7.2 billion dollars.
For some time now, cloud-computing services have multiplied, allowing interested firms to test the new technology’s potential remotely. This is an excellent opportunity for early adopters to verify the impact of quantum computers on their business, while they wait for them to become accessible and affordable for everyone.
Key points for the commercialisation of quantum computing
Forecasts that predict quantum computing achieving fault tolerance by 2030 are quite reliable, as they have taken into consideration the targets to be achieved and the obstacles to be overcome, particularly regarding the complexities of producing the necessary hardware.
Although the last three years of pandemic have shown that factors which can influence economic and technological progress are often unpredictable, a recent study identified six key points which will ensure the new computational technology’s market launch within the predicted timespan:
- more funding and more stakeholders involved in its development, with special focus on related start-ups (which are very few outside the United States);
- the creation of a standardised programming language which is open-source and hardware-agnostic is imperative to guarantee greater accessibility;
- hardware performance metrics must be improved and interfaces must be standardised in order to strengthen trust among final users and investors;
- it is essential to build consortiums and cooperation between organisations in order to improve computational calculation technology and be able to exploit it to resolve global issues;
- the digital transformation must be taken to a new level so that it is ready for the arrival of quantum computers. This means making the data from the new computers legible and the organisation of digital and analytical work flows which are readily compatible;
- it is essential for companies to focus on providing suitable staff training. Collaboration with universities and the investment of funds will be key factors.
Achieving the objectives listed above will facilitate the introduction of quantum computing considerably, but a lengthy period of time will still be required while traditional computation methods continue to accompany and support quantum machines.
