Business English News 62 Quantum Computing Ask anybody what technology is currently fueling business transformation, and they'll surely tell you it's artificial intelligence.
Indeed, it would appear that AI is casting an incredibly long shadow.
But it's not the only game in town.
There is another technology you may have seen creeping into the limelight called quantum computing.
For the non-physicists among us, TechTarget provides a useful explanation of how quantum computing works.
Compared to classical computing, which processes binary data sequentially, quantum computing employs quantum principles such as superposition and entanglement.
This empowers faster, more accurate, and more cost-effective processing for certain types of complex problems.
Cubits, the foundation of quantum processing, can exist in multiple states simultaneously.
This superposition supports entanglements, which intrinsically links them in a quantum state.
The result is an ability to perform many calculations at the same time, exponentially boosting processing power.
Fifteen years ago, it all might have sounded rather sci-fi, but with a ton of research and development over the past decade, great strides have been made toward making it a reality.
Granted, the challenges of solving some fundamental problems mean that some regard it as still in its infancy, but that appears to be changing as U.S. News reports.
The worldwide quantum computing market is valued at $698 million in 2026 and is expected to rise to $1.7 billion by 2033.
Capital is flowing and the market is maturing, says Jeremy Samuelson at Integrated Quantum Technologies.
Buyers and investors are moving from qubit counting to reliability, error correction, and economic utility as the real gating factors.
In short, funding remains strong, but it's becoming more focused where there's credible technical and go-to-market execution.
Credibility is an important intangible asset that some think is in short supply.
The tech world is notorious for fetishizing novelty and overhyping anything with a glimmer of promise.
Quantum computing, however, is more than just a cool app.
It represents a massive breakthrough in physics, and this change is generating significant business interest, according to the Wall Street Journal.
It could be years until quantum computing delivers on its promise to revolutionize everything from financial trading to drug discovery.
But that's not stopping the companies developing quantum hardware and software from speeding headlong into the public markets.
Three different quantum computing companies have gone public in recent months, while another five have announced plans to do so later this year.
There's so much appetite for quantum right now, said Antoine Legault at Wedbush Securities.
If you have quantum in your company name, you're worth at least $1 billion from the get-go.
That sounds like a pretty lucrative bandwagon, but naysayers have insisted that the real potential will remain unknown until some basic technical problems have been successfully tackled.
Foremost among these is errors that disrupt the entire system.
Well, with all the investment in research and development, the skeptics may be losing their footing.
BCG highlights recent game-changing developments.
For decades, errors that destroy fragile quantum states have been the primary barrier to scale.
Over the past year, leading platforms have demonstrated that these errors can be effectively reduced with QEC.
This progress prompted providers to accelerate their roadmaps for creating fault-tolerant quantum computers capable of reliable computations.
Soon, high-value use cases like advanced materials simulation will become viable.
So, is quantum computing like AI in that you should fear getting left behind if you don't have a clear strategy?
It really depends on the nature of your business.
Virtually all companies in any industry might benefit from AI.
But Quantum's advantages may not be so widespread.
And even for those that stand to gain, they likely won't be trading in their old systems for completely new ones.
McKinsey, among others, point to the likelihood of hybrid systems.
Executives can seek to capture value by deploying hybrid systems that combine QC applications with classical high-performance computing and AI.
Practical use cases include simulating complex molecules and materials, which has gained traction in pharmaceuticals and chemicals, optimizing financial portfolios, and modeling complex supply chains or energy grid loads.
This certainly sounds exciting for several key industries.
And the overall growth in quantum computing seems to bode well for the companies, big and small, that have been betting on it.
In reality, it's likely still too soon to tell what the real potential is.
Even some big players are careful in their assessment of the future, as TechCrunch reports.
IQM, a full-stack quantum company out of Finland, went public on the Nasdaq via a SPAC merger at a valuation of about $1.9 billion.
But share prices didn't pop.
They spent most of the day below the IPO price, a lukewarm welcome.
SPAC mergers are often not immediately popular with retail investors these days.
But this fizzle was arguably fueled by IQM's own admission and its prospectus that large-scale commercial traction of quantum computing technology may never occur.
