(HBR) The quantum race is already underway. Governments and private investors all around the world are pouring billions of dollars into quantum research and development. Satellite-based quantum key distribution for encryption has been demonstrated, laying the groundwork for a potential quantum security-based global communication network. IBM, Google, Microsoft, Amazon, and other companies are investing heavily in developing large-scale quantum computing hardware and software. Nobody is quite there yet.
Given the current state of the field, it’s not clear when or if the full power of quantum computing will be accessible. Even so, business leaders should consider developing strategies to address three main areas:
1. Planning for quantum security: Nobody could have predicted the myriad ways that classical computers impact every aspect of our lives.
2. Identifying use cases: Nobody could have predicted the myriad ways that classical computers impact every aspect of our lives. Predicting quantum applications is equally challenging.
3. Thinking through responsible design: Who will develop and have access to quantum technology, and how will users engage with it?