The idea of using quantum mechanics for computing is not new; it dates back to 1980, when scientists and tech giants like IBM, Microsoft, and Intel began racing to achieve “quantum supremacy.” Today, this technology is gaining momentum, and projections from consulting firms are highly optimistic.

“Quantum computing leverages the laws of quantum mechanics to solve complex problems far faster than traditional computers. In fact, this technology isn’t new to industries like ours—IBM launched the first quantum computer for commercial use a few years ago. However, recent advancements have been significant,” says Sebastián Ramacciotti, NEORIS’s Regional Manager for SAR South.

Consulting firm Statista projects that the global market size of this technology will reach $8.6 billion by 2027, reflecting growth from $410 million in 2020.

Jorge Lukowski, NEORIS’s Global Marketing and Communications Director, recalls that the European Union launched a €1 billion project two years ago, aimed at funding over 5,000 researchers to explore how to make this technology commercially viable in the next decade.

The most benefited sectors

According to Lukowski, the industries that stand to gain the most from this technology are financial services, pharmaceuticals, and logistics.

“Banks and insurance companies will not only improve fraud detection models but also optimize investment portfolios, while automating processes like clearing and settlement or identifying patterns and correlations within vast data sets,” Lukowski explains.

For the pharmaceutical sector, this technology could, for instance, simulate molecular behavior to better understand chemical structures when developing new drugs, a challenge with today’s technology.

Logistics is another sector that will see positive impacts from quantum technology in the medium to long term. “Efficient route planning is key to reducing costs, delivery times, and fleet maintenance. Now, companies can simulate different scenarios to prepare for and resolve issues more quickly,” Ramacciotti adds.

The other side of quantum computing

According to NEORIS experts, for quantum computing to achieve a level of accessibility similar to that of AI, specialized companies will need to address the lack of dedicated programming languages for solution development, find alternatives to prevent information decay due to the limited quality of qubits (the smallest unit of information), and foster the development of tools that enable more logical operations with these systems.

Both Lukowski and Ramacciotti agree with other experts and researchers that, if advancements and investments in the field continue at the current pace, within five years, quantum computers could surpass those we have today.

Their top recommendation for other leaders is to closely follow developments in Quantum Computing and, as it becomes available, invest in this technology to remain competitive within their sectors.

This article was published in Revista Mercado.