Embracing the Quantum Economy 2024

In this section, the focus is on highlighting different pathways for businesses to integrate people and resources for leveraging quantum technologies in their strategy and operations, thereby driving the quantum economy forward. Building a dedicated team is crucial for businesses seeking to own the innovation process in quantum tech (e.g. JPMorganChase and AXA). By investing in internal capabilities and creating a specialized team of application- and business-relevant expertise, companies can gain a competitive edge and effectively lead the market to meet their specific needs. 4.2.1 The importance of internal capabilities A dedicated team allows a company to build proprietary quantum solutions, explore use cases specific to their business, and integrate quantum technologies into their operations. This internal approach represents a more committed strategy, where the company invests in its human resources to develop quantum expertise, ensuring that it remains at the forefront of quantum innovation. 4.2.2 Team structure and recruitment strategies Creating a specialized quantum team involves careful planning of the team structure, recruitment strategies and training programmes. The team should be composed of a diverse set of roles that align with the business applications of quantum technologies. 4.2.3 Roles defined by business applications Quantum technology is introducing specialized roles to leverage its unique capabilities. Those in the usual specialized roles, such as data scientists, will increasingly need an understanding of how to quantum-mechanically formulate problems. Quantum technologies are expected to become an integral part of various professional roles, outlined in Table 9 and Table 10 in Appendix A.3 (Roles needed in different sectors for each quantum technology). In the financial services sector, quantum computing is utilized by quantitative analysts, portfolio managers, and fraud detection specialists to enhance data analysis and risk management. Quantum sensing aids financial data analysts and fraud detection specialists, while quantum communication ensures secure transactions and compliance by employing compliance and cybersecurity experts. In pharmaceuticals and healthcare, quantum computing supports bioinformatics specialists and drug discovery scientists in processing complex biological data. Quantum sensing is crucial for medical device engineers and healthcare data scientists, and quantum communication secures patient data and manages health information for patient-data security officers, health information managers and compliance officers. The chemicals industry benefits from quantum computing as material scientists and process engineers can optimize chemical processes. Quantum sensing helps develop chemical sensors and monitor environmental data, while quantum communication secures data transmission with the help of communication specialists and data security analysts. The energy and utilities sector uses quantum computing for energy systems analysis and grid efficiency optimization. Quantum sensing aids in environmental monitoring and utility data analysis, and quantum communication ensures infrastructure security. In automotives, aerospace and transportation, quantum computing optimizes supply chains and vehicle design. Quantum sensing enhances structural integrity and autonomous vehicle sensors, while quantum communication secures vehicle communication networks. Finally, the technology and telecommunications sector employs quantum computing for developing algorithms and IT infrastructure. Quantum sensing improves telecom sensors and data transmission, and quantum communication secures network operations and cybersecurity. 4.2.4 Training and development Training is essential to ensure that the dedicated team remains at the cutting edge of quantum technology. This includes: –Continuous education: Offering courses and workshops on the latest quantum developments. –Certifications: Encouraging team members to obtain certifications in quantum technologies. –Collaborations: Facilitating internships and collaborative projects with leading quantum research institutions.4.2 Building a dedicated team Embracing the Quantum Economy: A Pathway for Business Leaders 41