(TechRadar) CIOs should consider quantum computing technology as a competitive advantage, as new quantum-inspired algorithms could produce innovative solutions and novel approaches to product development. It could also significantly reduce time to market, as well as optimizing customer delivery.
Ignoring quantum computing may well place intellectual property (IP) and patent portfolios at risk: early adopters will enjoy a competitive advantage by patenting quantum-inspired innovations within specific domains. For example, a competitor might develop a quantum-based solution to improve Monte Carlo simulations by 1,000%, or a pharmaceutical company might significantly reduce the time to market for new drugs.
CIOs should look for potential opportunities from quantum computing and be ready to help the business leverage them. By 2023, 90% of enterprise quantum computing investments will engage quantum consulting organisations to help shape problems that can leverage quantum algorithms. Knowing how to identify and extract business value from a quantum computing initiative is a key skill to develop.