As quantum technologies begin to yield economic advantages, industries and markets will grow, adapt or be replaced. According to McKinsey, the potential economic value of quantum technologies is substantial, with quantum computing alone expected to generate between $450 billion and $850 billion annually by 2035. Quantum sensing and quantum communication are projected to contribute economic impacts of $100-200 billion and $50-100 billion annually, respectively.29 These technologies are poised to revolutionize various industries, driving economic growth and diversification. Understanding how quantum technologies can spur economic growth as they evolve is key for business leaders to unlock their potential. Global impacts will vary according to local priorities and investments. The opportunities to drive economic impact and gain competitive advantage are vast, as noted in Section 2.2. To realize these benefits, businesses need to develop a strategic vision that outlines their long-term goals and the role quantum technologies will play in achieving them. This vision should be supported by substantial investments in R&D to foster innovation and advance the technology. Additionally, businesses must gain practical experience by implementing more mature quantum technologies in real-world applications. This combination of strategic planning, R&D investment and hands-on implementation will enable businesses to harness the full potential of quantum technologies and secure a competitive edge in the evolving market.2.1 Quantum-driven economic diversification Embracing the Quantum Economy: A Pathway for Business Leaders 17

Embracing the Quantum Economy 2024