In this series of papers under QSI’s Government and Consortium Relations pillar, we’ll explore the global landscape of these initiatives. This paper, second in the series, discusses the European QuIC, the European Quantum Industry Consortium.
In our quest to accelerate the market adoption of quantum technologies, the Quantum Strategy Institute (QSI) looks at both enablers and hurdles businesses face in making these complex, forward looking decisions.
For an industry that is on the verge of commercial expansion, this includes forming new industry consortiums, adding new working groups to existing consortiums, and forming an interactive industry relationship with the policy making governments.
In this series of papers under QSI’s Government and Consortium Relations pillar, we’ll explore the global landscape of these initiatives. This paper, first in the series, discusses the US-based Quantum Economic Development Consortium (QED-C).
In 1935, Einstein wrote a paper with Boris Podolsky and Nathen Rosen trying to expose the weird behavior of quantum mechanics calling it “spooky action at a distance”. Among its many weird behaviors, the notion of quantum superposition really defies our imagination.
Even weirder, if one looks into a quantum system of say two electrons and they are in an entangled state, if you measure the property of one electron, say its rotation, you can tell what the other electron’s rotation is — without even bothering to measure it. Is it weird or astonishing? I think both.
The quantum industry is experiencing the successes and growing pains faced by so many other past technologies. Momentum however remains on quantum’s side in 2021, so consider the positives. According to a 2021 IDC survey, “The number of organizations [commercial end users or CEU’s] allocating more than 17% of their annual IT budgets for this technology [quantum] are expected to rise from 7% in 2021 to an estimated….
Quantum technologies are full of promise and potential. These technologies also bring their own challenges. Governments and businesses must start taking decisive action to manage the quantum changes as the second quantum revolution unfolds. Not doing so carries the risk of being left behind, and experience from other revolutions shows that this is not a favorable position to be in. Organizations without an AI mindset failed to execute on AI projects. Thus, organizations need a change management approach unique to quantum.
Producers want to understand how to reach the business community, particularly when quantum is such a complex technology.
Consumers demand to understand why quantum, and why now?
In this article, Brian Lenahan shares lessons from his practice, research and global interaction through the Quantum Strategy Institute.
Kanav Setia is CEO of qbraid, a New Hampshire-based quantum startup developing a cloud-based platform for managed access to other quantum computing software and hardware. Setia thinks now is the perfect time. For what? The perfect time to invest in quantum technologies.