Quantum Computing’s Impact on the Workforce

Quantum computing may sound like science fiction for many but industry and academia are strengthening their collaboration to prepare the way for a hockey-stick growth adoption in the next decade.

What is Quantum Computing?

IBM describes quantum computing as “an emergent field of cutting-edge computer science harnessing the unique qualities of quantum mechanics to solve problems beyond the ability of even the most powerful classical computers.” 

In fact, computers have not evolved fundamentally since the invention of the von Neumann machine during World War II. We've all become very familiar with the terms CPU and RAM and we understand that bits (0s and 1s) represent data moving across the classical computer to produce any kind of digital content we’ve been accustomed to, from numbers and charts to vivid images and videos, including enhanced pictures and fakes produced by generative AI.

At the heart of a quantum computer, the quantum processing unit (QPU) processes qubits – a short form for quantum bits – which can represent any weighted combination of 0 and 1 at the same time. This allows certain calculations to happen much faster than in classical computers. 

In 1994, an MIT mathematician named Peter Shor published an algorithm specially designed for quantum computers to decompose large integers into prime numbers. Running this algorithm on a fully functioning quantum computer could break some of the most common cryptographic tools that we’re using today to shop online and to protect our digital lives, such as the “s” in https that secures our communications through the Web.

Related:Google Integrates Post-Quantum Cryptography: Q&A

Government and industry alike have been put on notice to upgrade their security to a post-quantum level. The National Institute for Standards and Technology (NIST), the key reference for all cybersecurity matters, published guidance in August 2024 to support this critical transition to quantum-resistant algorithms.

Building Quantum Computers

A sense of emergency is rising, but quantum computers are still far from reaching the capabilities and wide scale commercialization to be considered a real threat at the moment. Leading companies are aiming to produce quantum computers with 100 to 200 logical qubits – more reliable qubits – by the end of the decade.

Most researchers and entrepreneurs involved in the space today have a PhD in Quantum Physics or at least very deep knowledge in this field. That is because qubits are created by manipulating the smallest particles in the universe such as photons, electrons and trapped ions. Quantum hardware uses extreme cold – near absolute zero – to keep these particles in a quantum state as long as possible, while they behave simultaneously as a particle and as a wave, seemingly acting in concert. Quantum properties, including superposition and entanglement, among others, enable quantum computers to work in parallel, sort of exploring multiple paths at once instead of one at a time like classical computers.

Related:Generative AI Prompts Business Leaders to Speed Toward Quantum Future

The development of quantum computers is complex. It relies on many fields of research such as quantum materials, quantum sensing, quantum error correction and fault tolerance, quantum algorithms, quantum information and quantum cryptography to name a few. Physicists, mathematicians, computer scientists and cryptographers all apply their expertise to the field of quantum computing. Since quantum computers are still quite rare and expensive, researchers often use pen and paper when they are not running simulators on classical computers. Meanwhile, large companies and IT providers have already positioned themselves at the tail-end of the value chain, as shown in the diagram below.

Industry is Getting Ready

Fortune 500 companies have been exploring quantum computing for several years. World-leading banks have explored financial modeling such as option pricing, fraud detection and innovative ways to enhance their artificial intelligence solutions. Energy companies have found promising results for the management of the electric grid, as classical computers struggle with the growing complexity of modern grids including renewables and EV charging infrastructure. Automakers have used quantum machine learning to improve self-driving capabilities in their cars. Driven by the growing complexity of industry use cases and the limitations of classical computing, industry leaders are gaining a better grasp of quantum algorithms and their applications to real-world scenarios.

The momentum has just started and now is the time for executive leaders to explore industry use cases, to assert leadership and build capacity across their organizations.

The industry is demonstrating growing excitement by pouring more money into R&D. Investors have been bullish in recent years, allocating $2.35 billion in 2022, according to McKinsey. Governments also have found quantum computing to be a priority for the decades ahead, investing $55 billion so far as reported. With investment pouring in, the search for talent has also started.

Academia Expands From Research to Prepare for Large-Scale Industry Adoption

Universities are expanding their activities from pure research to training the quantum computing professionals that industry is looking for. If most of the future graduates are geared to work in R&D for a big firm or a promising startup, the development of curricula focusing on quantum algorithms, post-quantum cryptography and high-performance computing (HPC) will be helpful to provide the talent required by industry over the coming decade. Professionals will have to have some basic understanding of quantum physics and a solid background in traditional development using Python, JavaScript and other languages. In fact, quantum computers are likely to continue to work in tandem with classical computers in the data center and in the cloud, providing data scientists and business users with a familiar environment.

With a rising urgency to transition to quantum-resistant cryptography, industry leaders should start without delay by auditing their software assets. This could create opportunities for interns, but they shouldn’t stop there. The time has come for executive leaders to familiarize themselves and their IT organization with quantum computing. We’re certainly not turning the page on 70 years of good services from classical computers. However, quantum computing is a new paradigm which requires a fair amount of time and effort to understand its strengths and weaknesses and how they compare to classical computers. Business leaders are currently striving to gain an understanding of the roadmap for quantum computing to craft a compelling strategy for their organization, charting a course for the next three, five or 10 years.