Why you should include Quantum Computing in your data strategy

Quantum computing still sounds like a technology of the future. Is the hype real? Can we already start using it? Over a year ago, I was met with a similar reaction when I introduced the idea of extending our services with quantum computing.

During that year, we managed to verify this technology in action. We conducted multiple calls with quantum vendors and our clients. One of our customers already validated that quantum is capable of producing value for their businesses, thanks to a Proof of Concept we delivered.

Today, I want to encourage you to consider including quantum computing technology in your data strategy. It’ll allow you to plan activities regarding this technology in your organisation. At Objectivity, we conduct awareness sessions during which we present the possibilities of quantum relevant to our clients’ opportunities and challenges. It’s a great way of familiarising yourself with quantum computing and checking which areas of your business can benefit from the implementation of this technology.

Why You Should Consider Quantum Computing?

Quantum technology is developing at a very fast pace. It’s worth mentioning that according to EY’s Quantum Readiness Survey, “Nearly half (48%) believe quantum computing will play a significant role in their industries by 2025. The vast majority (97%) think quantum will disrupt their industries — as well as the UK economy — to at least some extent by 2027”. Capgemini made a similar prediction: “43% of organisations working on quantum technologies expect them to become available for use in at least one major commercial application with the next 3-5 years”. Moreover, in their report from November 2022, Hyperion Research claim that “all quantum computing early adopters surveyed indicated that progress to date was either very or somewhat successful”.

This data suggests that your organisation needs to be prepared for the quantum revolution that’s going to happen in the next 2-5 years. You should be aware of the new possibilities to retain or build upon your competitive advantage. Are you keeping track of the emerging use cases for your industry?

What Quantum Has to Offer

Quantum can enable you to solve challenges that have been previously considered unsolvable. To explain it briefly: imagine that you need to read a book — in the classical computing approach, you need to read it page by page; with quantum computing, you can read the whole thing at once.

Leveraging this this innovative technology, you’ll be able to get results faster or with better quality, address more significant problems or get multiple result scenarios. It won’t replace classical computation. Instead, it will extend it, especially in areas related to optimisation (like working with scheduling and staffing solutions or areas related to supply chain or logistics), modelling (forecasting future demand or sales, market trends predictions), and quantum machine learning.

To showcase the potential of this technology, I’ll use the aforementioned Proof of Concept we did for a client as an example. The problem that needed to be addressed concerned optimising the production plan for the next several years. By using quantum computing, we reduced computation time from 4 hours to 90 seconds. What is more important, we generated multiple viable solution scenarios instead of just one.

How Can I Onboard this Technology?

The adoption process is easier than you think. The first question that occurs is how to get access to the quantum computer. In fact, that’s not difficult at all. Those machines are available via different cloud vendors, like AWS, Google, or Microsoft Azure, as well as quantum providers’ private clouds. I covered this topic more thoroughly in my article on onboarding quantum computing.

The next challenge is integration. The techniques used in this area aren’t different from the ones known widely used with other technologies — the access is ensured through API and external libraries. If you’re interested in more details, you can read about how we used a quantum computer to plan our CEO’s travelling schedule in a way that optimises time, CO2 emissions, and cost.

The Next Steps

Do you still have doubts whether quantum computing should be on your radar? Or do you have all the information you need to add it to your data strategy?