Embracing the Quantum Economy 2024

Use case placement for different quantum technologies TABLE 8 Technology area Quantum computing Quantum sensingQuantum communications and security Theoretical (10+ years)At this stage, the focus is on developing new algorithms, error correction methods and theoretical models for quantum computation. Researchers explore the limits of computational power and the types of problems quantum computers could solve one day.Research is directed towards understanding and exploiting quantum effects to improve measurement precision. This includes the development of new sensing modalities based on quantum entanglement and superposition.Work focuses on QKD and other protocols that utilize quantum mechanics for secure communication. Theoretical studies also focus on the integration of quantum communications with existing networks. Experimental (6 to 10 years) Efforts concentrate on building small-scale quantum processors to validate theories and refine quantum bits (qubits) coherence and control. This stage often involves demonstrating the quantum advantage for specific problems, albeit in a highly controlled experimental set-up.Experiments validate the sensitivity and accuracy of quantum sensors under controlled conditions. Initial applications might be in high-precision laboratories or environments like space or underground facilities.Testbeds for QKD and other quantum communication technologies are set up. Demonstrations often involve point-to-point secure communication under laboratory conditions or over limited outdoor distances, and miniaturization of the overall technology. Prototype (3 to 5 years)Larger, more reliable quantum processors are developed. The work includes integrating quantum systems with classical hardware and software to create more complete computing solutions, aimed at specific industries such as pharmaceuticals, materials science and finance.Efforts aim to ruggedize and miniaturize quantum sensors for practical use cases such as geological surveying, navigation systems and medical diagnostics.More robust and integrated systems capable of working with existing telecommunications infrastructure are developed. This includes building of repeaters, transceivers and other components essential for long- distance quantum communication. Commercial (1 to 2 years)Focus shifts to scalability, usability and integration with existing technology infrastructures. Commercial quantum computers might start as niche products for specific computational problems, with broader applications developing slowly as technology matures.Quantum sensors are finalized for commercial deployment, focusing on reliability, ease of use and cost-effectiveness. They may start impacting a variety of sectors, including automotives, healthcare and telecommunications.The technology is prepared for deployment in specific high- security applications, such as governmental communications, with gradual expansion into commercial sectors such as banking and cloud services. Embracing the Quantum Economy: A Pathway for Business Leaders 57