Embracing the Quantum Economy 2024

Different paths to investing in quantum technologies (continued) TABLE 11 Industry Pathway Description Examples Pharmaceuticals and healthcareInternal funding Allocates R&D budget to quantum projects for proprietary solution development.Cleveland Clinic and IBM launch world’s first quantum computer dedicated to healthcare research and biomedical discoveries125 Accenture Labs and Biogen apply quantum computing to accelerate drug discovery126 Johnson & Johnson and Pasqal work to demonstrate practical benefits of quantum computing127 Chemicals and advanced materialsVenture capital Provides necessary funding for start-ups to develop and market innovations.BASF’s business incubator Chemovator invests in Quantistry128 Acquisitions Rapidly integrate start-up innovations into existing product lines. Internal funding Allocates R&D budget to quantum projects for proprietary solution development.SEEQC partners with BASF129 Covestro and QC Ware collaborate on quantum algorithms for materials R&D130 Energy and utilities Venture capital Provides necessary funding for start-ups to develop and market innovations.Chevron’s investment in quantum computing start-up OQC for energy optimization and simulations131 Acquisitions Rapidly integrate start-up innovations into existing product lines.Honeywell’s acquisition of Cambridge Quantum Computing to enhance its quantum computing capabilities132 Internal funding Allocates R&D budget to quantum projects for proprietary solution development. Automotives, aerospace and transportationVenture capital Provides necessary funding for start-ups to develop and market innovations.France taps quantum computing for aerospace design133 Acquisitions Rapidly integrate start-up innovations into existing product lines. Internal funding Allocates R&D budget to quantum projects for proprietary solution development.Volkswagen’s internal funding for quantum computing projects aimed at optimizing traffic flow134 Toyota partners with Israel’s Quantum Machines for quantum computing135 Ford Motor Co.’s quantum research group uses quantum computing in developing EV battery materials136 BMW and Capgemini benchmark quantum computing applications137 PsiQuantum and Mercedes-Benz study quantum computers to accelerate EV battery design138 Hyundai Motor Company uses quantum computers to develop next-generation batteries139 Embracing the Quantum Economy: A Pathway for Business Leaders 62