Embracing the Quantum Economy 2024

Use case impact analysis for technology and telecommunications FIGURE 12 Low Medium High Very high FeasibilityBusiness value Research PoC/PoV4Scaled Pilot42 910 6 753 182 984 7531 6 10Optimized network transformation (applied by Fujitsu, University of Toronto) Packet routing (cyber business case) Network traffic optimization and resource allocation Site surveys (quantum gravimeters) Data transmission and reliability (quantum clocks for time synchronization, used by BT) More resilient keys for advanced mobile security (QRNG,¹ used by SK Telecom, Samsung Electronics, ID Quantique) Infrastructure inspection (quantum enhanced LiDAR)² Infrastructure integrity monitoring (quantum acoustic sensors used by QinetiQ) Environmental monitoring (quantum sensor detection) Secure communication channels (QKD,³ used by China Telecom, QuantumCTek; BT, Toshiba; SPTel, SpeQtral; Boeing) Quantum sensing Quantum communications and security Quantum computing2. Preparing for quantum computing applications in the optimization space, which presents itself with several high-value use cases, such as currency trading, reinsurance optimization and fraud detection (use cases 1, 3 and 4). Although quantum methods are recognized as both proof of concept and pilot initiatives, they are not yet ready for industry- wide adoption due to the current limitations of quantum hardware. However, algorithms such as those in use case 1 demonstrate potential when used on a quantum-inspired system, offering an interim solution before transitioning to a fully developed quantum computing approach. Now is the time to prepare by developing quantum algorithms and proofs of concept (PoCs). This ensures readiness when the hardware matures, positioning an organization to be a first mover in quantum computing applications. David Craig, former chief executive officer of Refinitiv, emphasizes the significance of this preparation: “Quantum computing has the potential to disrupt financial markets by offering unparalleled computational power for complex modelling and optimization.” By applying quantum computing to optimize financial portfolios, enhance risk analysis and improve trading strategies, organizations can leverage this transformative technology to gain a competitive edge. 3. Leveraging quantum sensing for fraud prevention using time-stamp verification (use case 7). Using quantum clocks, this is a practical application that can be implemented in the near term. Accurate time-stamping can mitigate fraud risk by ensuring transaction authenticity, making it a high-value initiative for policy-makers to consider as part of their broader fraud-prevention strategies. These insights underscore the need for strategic investments in quantum technologies today, to not only address the current security challenges, but also ensure long-term competitiveness as the technologies mature for the finance industry. 3.2.2 Technology and telecommunications Source: World Economic Forum in collaboration with Accenture Note: 1 Quantum random number generator, 2 Light detection and ranging, 3 Quantum key distribution, 4 Proof of concept/proof of value Embracing the Quantum Economy: A Pathway for Business Leaders 31