A Deeper Look at Classiq’s New Survey on Quantum Computing Awareness
Within a particular industry, it can be easy to think that that industry is on everyone’s minds. However, stepping outside of the industry may prove otherwise. The quantum technology industry is a prime example of this, as many outside of the industry may not fully understand what the technology is or how to leverage it. Yet, a recent survey from Classiq, a leading quantum computing company, reveals this might change in 2023, as quantum computing is making a greater impact than expected, and will continue to do so.
What were Some of the Initial Results?
The survey was conducted by a third-party company called Propeller Insights, which interviewed more than 500 professionals working at companies with at least 100 employees, and belonging to several different industries. The results showed that 95% of business leaders are planning to hire some kind of quantum talent by 2023. This number, which may be astounding to many of us, was also surprising to Classiq as well. “Essentially 100% of the companies asked were aware of quantum, which was surprising to me,” explained Classiq CTO Yehuda Naveh. This percentage not only reveals how many companies have actually looked into the benefits of quantum computing but suggests a possible further talent shortage due to higher demand.
For those companies already looking for talent, a possible further shortage is good to be mindful of. Naveh predicts that the talent shortage will be the third hurdle in a series of bottlenecks, with the first being a hardware bottleneck and the second a subsequent software bottleneck. “The pace of development of this field is, certainly at this stage, going to be driven by the ability of the hardware,” Naveh added. “Other than that, what companies should do is preserve and gain more talent.” In emphasizing an ongoing talent search, Naveh believes this may help companies to overcome the talent bottleneck later on in the future.
What were Some of the Expectations for Quantum Computing?
The awareness of quantum computing was also compounded by the expectations many other industries had for it. A common expectation (86% of those surveyed), was that the U.S. should work to become a world leader in this technology. As the U.S. government has recently been passing several pieces of legislation to give more funding to the quantum industry, this expectation may not be too hard to achieve. Yet other countries like China are also working hard to make sure they too are a world leader in this technology. In order for the U.S. to progress forward, Naveh recommends a type of “peer-pressure” system for other companies to partner with the industry. “With a large percentage of companies already having quantum activity, they can help pressure others to do that, even though this technology may be something that is not immediately used.” Naveh said. “Because as with everything, whatever many of our peers do, there is probably some wisdom in it.”
Which Industries were Key in the Survey?
From the survey, Classiq found three key industries that had the highest investment in quantum technology: finance (87%), accounting (86%) and medical technology (83 %). As other industries seem to be slower in accepting this innovative technology, these three sectors are leading the charge. Having leaders is crucial for other industries which may still be undecided, such as the pharma and healthcare industries. Naveh explained that initially, people thought that these industries would quickly adopt quantum computing due to its clear use cases. However, Naveh added that this industry has been more “conservative.” “I think that is a very wise attitude,” said Naveh, “As they can fully outlive the advantages for their industry.”
This survey offers another window into other industries and gives insight into how quantum computing is seen and may be used in the future. As 2023 quickly approaches, it will be no surprise to see many companies using the results of this survey to create new partnerships and expand their networks in the coming year.
Kenna Hughes-Castleberry is a staff writer at Inside Quantum Technology and the Science Communicator at JILA (a partnership between the University of Colorado Boulder and NIST). Her writing beats include deep tech, the metaverse, and quantum technology.