AI-generated summary
Quantum computing is revolutionizing traditional computing by enabling the rapid and large-scale solving of complex problems. Although still in early stages of adoption, it has attracted significant interest from companies and research institutions eager to explore its potential across various sectors. Particularly promising is the synergy between quantum computing and generative artificial intelligence, which opens up exciting new possibilities. Key industries poised to benefit economically from quantum computing, as identified by McKinsey’s 2023 Quantum Technology Monitor, include automotive, chemicals, financial services, and life sciences, with potential gains of up to $1.3 trillion over the next decade. Applications range from AI and optimization to improved risk analysis in finance, optimized logistics and supply chains, enhanced energy systems, and advanced molecular simulations in chemistry and pharmaceuticals.
Experts at the Future Trends Forum emphasized the emerging impact of combining quantum technologies with AI, especially in machine learning and generative AI, heralding a paradigm shift in areas like education, programming, and customer service. Early innovations include quantum-enhanced encryption and accelerated scientific discovery. However, widespread adoption faces challenges such as understanding the technology’s realistic capabilities, talent shortages, high startup costs, and scaling difficulties for AI companies. Creating supportive ecosystems and technology transfer offices could help overcome these hurdles. Despite these challenges, quantum computing’s disruptive potential promises substantial new opportunities for growth, making early investment a strategic priority for businesses aiming to maintain a competitive edge.
The combination of these two technologies promises to revolutionize many sectors and to implement them, companies must accept the pending challenges
Quantum computing is redrawing the boundaries of traditional computing, offering the possibility of solving complex problems at a speed and scale previously unthinkable. Although it is a technology still with limited diffusion and availability, in recent years, quantum computing has captured the attention of many companies and research institutes with the aim of exploring its potential in a wide range of sectors. In particular, the synergy with generative artificial intelligence opens up fascinating horizons.
According to McKinsey, quantum computing is one of the most promising technological trends and in its analysis ‘Quantum Technology Monitor 2023’ it shows which are the sectors that are likely to receive the first economic benefits: automotive, chemicals, financial services and the so-called ‘life sciences’ or biotechnologies. Over the next ten years, these industries could earn up to $1.3 trillion from the application of quantum computing.
Among the main areas of application of quantum computing are artificial intelligence and optimization, decisive tools for most companies. Already in 2019, Gartner wrote ‘The CIO’s guide to Quantum Computing‘, a report that is still useful for having a global vision of the potential and possible applications of quantum computing in artificial intelligence, machine learning and data science.
The applications of quantum technology plus the power of AI
For example, in the financial sector , quantum computing offers innovative solutions to problems in portfolio optimization, risk analysis, and market prediction, providing fast and accurate forecasts and reducing the risk of errors. In the logistics and transportation industry, quantum algorithms can solve distribution planning problems, improving your efficiency and supply chain management, as well as the overall customer experience. In terms of the delivery of goods, it will be possible to optimise vehicle routes, ensuring shorter and faster journeys with a consequent reduction in CO2 emissions.
In the energy sector, quantum computing can contribute to the design of more efficient and sustainable networks and systems, thanks to its ability to optimize complex models for forecasting energy demand and supply. In the chemical field, for sectors such as pharmaceuticals, the production of advanced materials and green chemistry, progress will be made in the simulation of molecules and chemical reactions for the development of new materials, including superconductors, catalysts and chemical processes.
On the occasion of the Future Trends Forum (FTF) of the Bankinter Innovation Foundation, where nearly forty global experts analysed the current state of these technologies, as well as the challenges and opportunities they present, Brian Lenahan, founder of the Quantum Strategy Institute, spoke of the relevance of the “quantum inspired” attitude, combined with advanced artificial intelligence, especially in the field of machine learning and generative AI. According to the expert, constant progress has been made in this area, pointing to a paradigm shift in sectors such as teaching, programming, personal assistants, content generation and customer service.
On the other hand, the experts present at the FTF agreed that the first joint innovations of quantum technologies and AI are being seen in the design of encryption algorithms and to accelerate scientific discoveries on the behavior of quantum computers and the creation of new quantum sensors. However,
These are the remaining challenges
The biggest challenge for the industry is to understand what quantum computing is and how, combined with AI, it can affect all processes, separating exaggerated promises from substantiated realities. In this sense, the report summarizing the results of the FTF provides a roadmap for business leaders to navigate these changes, including identifying the quantum trends of greatest value to the business, the professional profiles needed, and whether to adopt an offensive or defensive posture against the competition.
An area to highlight on the route for the landing of these technologies is the necessary creation of quantum startups and AI, currently a complicated challenge due to the difficulty of finding the right talent, uncertainty about the results and high start-up costs. To meet these challenges, ecosystems such as Media Lab or Kendall Squares must be established, which allow startups to access cutting-edge laboratories.
As for AI startups , the main challenges are scaling the company and retaining talent, which could be mitigated by the creation of a Technology Transfer Office (OTT) capable of addressing these difficulties and playing a coordinating role. The truth is that in quantum technologies there is still much to be done and much to discover, and it is clear that the potential impact of this new technology will be disruptive in the near future, opening up new opportunities for growth and business development. Investing now thus becomes a key strategic lever for organizations seeking a competitive advantage.
