Friday 02 June 2023 - 5:08:01 am

Spending on quantum computing will surge to US$ 9.1 billion by 2030: report

DUBAI, 5th April, 2022 (WAM) -- According to a report during Investopia summit, quantum computing technology is advancing rapidly, and is on track to enable solving more complex business problems through enhanced optimisation, machine learning and simulation.

This is bringing transformation potential to multiple industries, making it possible to discover new remedies in life sciences, improve wealth management scenarios in financial services, reroute supply chains in real time and more.

According to Tractica LLC, a market intelligence firm, spending on quantum computing will surge from US$260 million in 2020, to US$9.1 billion by 2030.

In order to solve real-world business problems at scale, the management of quantum computing must shift toward information technology (IT) services that are integrated into the enterprise infrastructure.

Ideally, this business-centric, IT-driven approach will use a modern consumption model that is abstracted from the underlying hardware and fully integrates with enterprise services and data sources.

Designating quantum leads from both the business and IT departments, and extending the availability of quantum methods across the organisation, will encourage engagement, increase understanding and create more opportunities for innovative sparks.

In the future, this approach could also use quantum architecture stacks that automatically select the most appropriate computing power to solve a given problem. Taking this top-down and industrialised approach to quantum computing is the pathway to innovating at speed and scale.

90 percent of organisations will partner with consulting companies or full-stack providers to accelerate quantum computing innovation through 2023, according to Gartner.

The first Investopia investment summit, which held during WGS2022 last week, convened decision-makers, private sector leaders, social institutions, and investment companies from all around the world to explore new economic models for the post-pandemic era.

WAM/Khoder Nashar/Tariq alfaham/Amjad Saleh