Disrupting traditional industries with quantum

computing
In brief
 A quantum revolution is upon us.
 Quantum computing will help enable organizations to tackle problems that the
finest classical computers of today are incapable of.
 A rapid increase in academic research and publications on quantum computing
has recently emerged.
 Organizations looking to build a first mover advantage and lead the field in years
to come should invest in building quantum capabilities.

Executive summary March 5, 2021

A quantum revolution is upon us. While the technology is yet to be widely adopted
across businesses today, this will begin to change in the next several years with the
increasing prevalence of enterprise applications.

Quantum computing will help enable organizations to tackle problems that the finest
classical computers of today are incapable of. Possible applications are diverse and will
impact across industries. Notable examples include solving complex optimization
problems, artificial intelligence (AI), quantum-encrypted communications, financial
trading and risk profiling, smart retail and smart manufacturing and logistics. In the
short-term, these applications can result in new services and partners; however, in five
to ten years, quantum computing applications may completely transform business
models.

It is therefore highly recommended that leaders with ambitions of flourishing in the

future begin to equip their technology toolkits with quantum computing for an innovation
that is set to change the world and business as we know it. Accenture’s partnerships
with the world’s leading quantum cloud vendors and research institutes means we are
well equipped to advise clients on this coming wave of disruption.

It is therefore highly recommended that leaders with ambitions of flourishing in the

future begin to equip their technology toolkits with quantum computing for an innovation
that is set to change the world and business as we know it.

The first glimmers of a technology revolution

Quantum computing has the potential to change the world and truly transform the way
businesses and organizations operate. Possible applications are diverse and great in
number; they range from breaking encryption, to enhancing the capability of AI.
Businesses seeking to operate at the cutting-edge tomorrow should consider the
benefits of building related capabilities today.

A rapid increase in academic research and publications on quantum computing has

recently emerged. Many big industry names such as IBM, Google, Microsoft, and Intel,
as well as many ambitious start-up companies are in the race to develop a first large-
scale universal quantum computer. In parallel to quantum hardware development, the
area of quantum software and quantum algorithm development has also seen
tremendous progress in the last few years.

What is quantum computing?

Unlike the traditional computer, which is established on bits and bytes, the quantum
computer uses super-positioning and entanglement – theoretical concepts of quantum
mechanics – to process information. This can lead to incredible processing speeds for
certain applications, as a quantum computer is able to account for uncertainty in its
calculations as compared to purely binary choices. For instance in 2019, a calculation
that would normally take the world's fastest supercomputer 10,000 years to solve was
processed within minutes by a quantum computer.

A virtuous cycle, like that of the semiconductor industry, has not yet begun for quantum
computing technologies. As an enterprise technology, it is still in its infancy, with
barriers to mass adoption taking the shape of rarified equipment and highly sensitive
calibration requirements. Having said that, The National Academies of Sciences,
Engineering and Medicine predicted that the early 2020s would be a critical phase for
developments in quantum computing. A report from Allied Market Research predicts
that the global enterprise quantum computing market will on average grow by 31.7%
annually from 2018–2025 and will reach about $5.9 billion by 2025.

31.7%

A report from Allied Market Research

predicts that the global enterprise
quantum computing market will on
average grow by 31.7% annually from
2018–2025 and will reach about $5.9
billion by 2025.

There will need to be considerable global contributions and experimentation of use

cases before quantum computing achieves mass adoption. This will in turn drive
forward the technology to be better poised to integrate with existing business
applications. Simply put, the current focus of R&D in quantum computing systems is to
build a ‘sandbox’ marketplace around the technology in order to create discovery
opportunities for future quantum-powered products and services.
Signs of this new market are emerging, with many cloud solution providers exploring
Quantum-as-a-service (QaaS). This would enable firms to access quantum computing
resources remotely, just like how Infrastructure-as-a-Service (IaaS) currently exists
today on the public cloud. For example, Amazon Braket is a fully managed service
which enables scientists, researchers, and developers to experiment with computers
from multiple quantum hardware through an Amazon Web Services (AWS) interface.
Over at Microsoft, Azure Quantum is an open cloud ecosystem that provides access to
quantum software, hardware, and solutions Likewise, Google’s Quantum Computing
Playground enables the user to run and write quantum algorithms.

Applying quantum computing to business

Accenture has mapped over a 150 use cases with a focus on finding those that are the
most promising in various industries and has partnerships with the world’s leading
quantum cloud vendors to help clients embrace the upcoming quantum computing
revolution.

The following are key applications:

Optimization

Optimization problems exist across business functions and industries, with great effort
and cost using traditional computers.

Research and modelling

Quantum simulations can help scientists better understand molecule and sub-molecule
level interactions which can lead to breakthroughs in chemistry, biology, healthcare, and
nanotechnology.

Cryptography

Quantum computers have the potential to break existing encryption security algorithms
– governments and organizations alike must therefore ensure encryption is quantum-
ready.
 Industry specific applications

Quantum computing is expected to impact all industries, but have the most significant
and immediate influence in finance, robotics, materials science, and healthcare
industries.

Near term applications can result in new services and partners; however, mid-
term applications may completely transform business models. Within one to five
years, we can expect quantum simulators, control, and cryptography. Within five to 10
years, quantum computing will be enhancing traffic optimization, materials discovery,
satellite communications and machine learning.

How to prepare for the future, now

We are on the cusp of a quantum revolution. Apart from leveraging on cloud solutions,
businesses should take the following steps now to reap the long-term benefits of
quantum computing:
 1. Identify priority use cases
Organizations can begin by identifying where quantum innovations will critically
impact their business and preparing with quantum-ready applications. To
maximize the returns on investments, organizations should focus on business
problems that require large computation power to solve. For example, financial
services enterprises can use quantum computing to develop new credit scoring
algorithms that can cope with the exponential difficulties of hard problems.
Recently, Accenture supported BBVA, a multinational financial services
company, in addressing this issue by developing a reusable, transferable, code-
based demonstration runtime environment that accelerated the journey from
prototype to production. This effort placed the bank at the forefront of quantum
exploration and strengthened the organization’s credential as a 21st century
digital bank.

2. Encourage experimentation
Once priority use cases have been identified, organizations should then conduct
pilots in a "test, learn and iterate" approach. Accenture is well positioned to help
clients gain unique insights through conducting quantum business experiments,
with over 150 use cases mapped across multiple industries plus two U.S.
patents for "quantum computing machine learning module" and "multi-state
quantum optimization engine" products. These experiments are designed to
discover whether algorithms are effective replacements for existing classical
computing implementations. Once this is established, a quantum application us
developed to demonstrate the functionality. Enterprises that proceed with
experimentation and innovation at this stage will be well braced to capitalize on
the opportunities that the quantum revolution will bring.

3. Explore the talent ecosystem beyond the organization

In comparison with other skillsets, the war for talent in quantum computing is
fierce, with only a few thousand quantum physicists and engineers worldwide.
To address this challenge, businesses should leverage partnerships and work
with external quantum experts. For example, Biogen - a multinational biotech
collaborated with Accenture Labs and 1Qbit - a quantum software company - to
accelerate drug discovery through quantum-computing molecule comparison. In
less than three months, an enterprise-ready, quantum-enabled application with
transparent processes was developed, thereby providing Biogen a unique
competitive advantage through speed to market and cost savings.

Building a first mover advantage

The case is clear, organizations looking to build a first mover advantage and lead the
field in years to come should invest in building quantum capabilities today. Operational
quantum computing use cases that generate business value are on the five to 10 year
horizon, with increasing flows of investment and R&D focused on this next major step in
computational evolution. Like all emerging technologies, challenges still remain around
industrialization and talent sourcing, but these are solvable through the right
partnerships.

Accenture is well placed to prepare businesses to be quantum ready, with over 15

teams and 100 quantum experts globally. For more, reach us here.

Benjamin X.Y. Lee

Managing Director – Applied Intelligence
Ben Lee leads the Applied Intelligence Strategy practice in the UK.

Peter Aitken
Senior Manager – Digital Strategy, Applied Intelligence

Elliot Choo
Consultant – Digital Strategy, Applied Intelligence

James Phillips
Consultant – Data Strategy, Applied Intelligence