Research from Economist Impact reveals that quantum industry professionals are overwhelmingly optimistic that quantum utility will be achieved within the next decade. According to the study, which surveyed quantum professionals across the UK, Europe, North America, and Asia, a huge 83% think that quantum utility, when quantum computers overcome hardware and error correction challenges to perform better than classical computers, will be realized within ten years or fewer.
See: https://redskyalliance.org/xindustry/quantum-computing-good-or-bad
Of this figure, one-third believe it will be reached within one to five years. Just 3% of respondents believe quantum utility remains more than 30 years away, countering claims made, and then rescinded, by NVIDIA CEO Jensen Huang earlier this year. Despite this optimism, challenges in technical development, talent acquisition, and executive-level understanding persist, which must be overcome to support quantum development. [1]
The survey highlights three major challenges facing quantum advantage, the moment when quantum technologies will be ready to be implemented into business end-users’ daily operations:
- 82% cite overcoming technical difficulties, particularly error correction, as a key hurdle.
- 75% identify a shortage of talent and expertise as a critical issue.
- 75% say a lack of understanding at the board level is holding back adoption.
- 57% of respondents believe misconceptions about quantum computing are actively hindering advancement.
The findings suggest a disconnect between technological development and business readiness, reinforcing the need for better communication, education, and alignment at the executive level to maintain progress's momentum. Quantum computing's potential impact is not limited to commercial gains. It is increasingly viewed as a critical enabler of sustainability and energy resilience, a key priority for global infrastructure as energy demands and decentralization increase.
Three-quarters of respondents identified climate modelling, monitoring, and power grid optimization as two core ways quantum computing will boost sustainability. Beyond sustainability, the earliest use cases are forecasted in drug discovery and materials science (62%) and communication networks and cybersecurity (57%). These sectors are where the need for complex simulation and optimization is well aligned with quantum computing’s unique capabilities.
We already see industry leaders like HSBC introducing quantum-safe cryptography into their operations. In comment, Helen Ponsford, Head of trade, technology, and industry events programming at Economist Impact, said “With 80% of respondents stating that demonstrating industry-specific use cases is essential to accelerating adoption, and two-thirds highlighting the importance of proving return on investment the message is clear: commercial relevance must closely follow scientific breakthroughs for quantum to sustain its growth."
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