This informal CPD article The Future of Business is Quantum was provided by QURECA, a leading company creating global opportunities with Quantum Technologies.
At the start of the twentieth century, many physicists believed that all discoveries within the field had been achieved. However, this was very much not the case. Throughout the century, scientists such as Albert Einstein, Max Planck and Erwin Shrödinger began the fundamental basis for quantum mechanics, which led to amazing research and development, such as the invention of lasers and semiconductors.
Thanks to the experimentation and discoveries of the twentieth century physicists, we created technology such as the Internet, computers, the GPS and MRI imaging. Modern technology as we know it all stems from quantum physics and the first quantum revolution.
When we look at the world of business, it is easy to see the impact that this quantum revolution has had. Working without the Internet, laptops, and printers seems impossible nowadays. Looking at the last year and a half alone, an extremely high number of businesses would not have survived in this pandemic landscape without having employees working from home.
The Second Quantum Revolution
The effect that this technological revolution has had on society and business is soon to be replicated. Technology in its current state is incomplete. Quantum physicists have learned that technology can be more precise, more powerful and more reliable. New quantum technologies are currently under development globally, and they will disrupt society in a not so far future.
Governments, institutional bodies and businesses around the world are eager to get involved and advance the quantum landscape. There has been an estimated $24.4b of public funding invested into quantum research worldwide, with countries such as China, the UK and the USA leading the charge.
As experimentation continues with technology and new discoveries are found, we are fast approaching a second quantum revolution. This new technology is coming, and it is going to outclass what we currently have. Much like with the first quantum revolution, this second quantum revolution is sure to fundamentally change the world of business.
The Quantum Workforce
Due to the magnitude of the changes being made with quantum technologies, we are currently facing an issue in the world of business - we do not have an appropriately trained workforce that understands and can build and use quantum technology.
As this new quantum technology is only beginning to establish itself, it is understandable that we lack the knowledge and understanding necessary to use it. However, this problem needs to be recognised by businesses worldwide.
The second quantum revolution can and will fundamentally change the way businesses run. CEO’s, directors, investors and stakeholders need to recognise the opportunity for change and invest heavily in training to ensure that their businesses are quantum ready.
In a post-pandemic landscape, it may be natural instinct for businesses to cut costs to make up for the massive losses seen in 2020. However, this is highly likely to have the opposite effect than desired.
In times of hardship, it is highly important to invest in research and development. This applies to governments, institutional bodies and businesses. Cutting costs may balance the books in the short term, but will have long term negative impacts.
In business, it is important to adapt to survive. Those companies that fail to adapt to the new quantum technology, and invest in training their employees, will be the ones that will be left behind.
The second quantum revolution is coming - that is a non-negotiable fact. The impact it will have is sure to match that of the first. The world of business is going to fundamentally change. The future of business is quantum, and it is time to get prepared.
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