- PsiQuantum aims to have a commercially viable quantum computer by 2027, utilizing existing manufacturing infrastructure to accelerate development, but tech executives at the WSJ Journal’s CIO Network Summit are more focused on immediate priorities like AI and policy changes.
- Despite quantum computing’s potential to revolutionize sectors like pharmaceuticals and aerospace, business leaders express skepticism about its near-term value, with none at the summit currently pursuing its business applications, citing other pressing technological and regulatory issues.
- Concerns about quantum computers breaking encryption are acknowledged, but efforts towards post-quantum cryptography and the anticipated large-scale nature of such machines provide some reassurance, suggesting that the threat’s emergence would be economically noticeable before becoming critical.
The quantum computing industry finds itself at a fascinating crossroads: just as the technology appears to be making unprecedented strides toward commercial viability, potential business users seem too preoccupied to notice. This disconnect was starkly illustrated at a recent Wall Street Journal CIO Network Summit, where PsiQuantum‘s ambitious timeline for delivering a commercially useful quantum computer by 2027 was met with a collective shrug from tech executives.
PsiQuantum’s approach represents a significant departure from traditional quantum computing development. Rather than building entirely new infrastructure, the Palo Alto-based startup is leveraging existing semiconductor fabrication facilities and conventional data center technologies. This pragmatic strategy, as explained by Chief Scientific Officer Pete Shadbolt, could dramatically accelerate the timeline for practical quantum computing applications across industries like drug discovery, finance, energy, and semiconductor manufacturing.
Yet when polled about their current quantum computing initiatives, summit attendees painted a telling picture of corporate priorities. Not a single executive reported actively pursuing business applications for quantum computing. Half of the respondents cited being too focused on other priorities, particularly artificial intelligence (AI) implementation and navigating new tech policies. Another 29% expressed uncertainty about quantum computing’s business value.
This tepid response reflects a deeper paradox in the technology sector. The very advances that are bringing quantum computing closer to reality are being overshadowed by more immediate technological disruptions, particularly the AI boom. OneMain Financial’s CTO Lawrence Fitzpatrick captured the prevailing skepticism with his observation that quantum computing “seems like it’s always five years away.”
However, this disconnect between quantum computing’s progress and business adoption might not be as problematic as it appears. Shadbolt acknowledges that quantum computing will likely remain the domain of “technically elite people who are directly running code on the machine.” The broader business impact will come from the products of quantum computations – new materials, drug designs, and optimization solutions that could transform industries without requiring companies to develop in-house quantum expertise.
The summit also addressed one of the most pressing concerns about quantum computing: its potential to break current encryption standards. Shadbolt offered reassurance on two fronts. First, the development of post-quantum cryptography, while still debated, shows promise in protecting current systems. Second, the quantum computers needed for code-breaking would be significantly larger than those used for commercial applications, making their development easily trackable.
This moment in quantum computing’s evolution reveals a crucial insight about technological adoption: breakthrough potential doesn’t automatically translate into immediate business interest. While some forward-thinking companies are already developing quantum algorithms and running them on simulators, most businesses appear content to wait until the technology proves itself in practical applications.
The situation mirrors early reactions to other transformative technologies. Just as many businesses initially underestimated the impact of the internet and cloud computing, today’s corporate indifference to quantum computing might prove shortsighted. The key difference is the accelerated timeline – if PsiQuantum’s predictions hold true, businesses might have significantly less time to prepare for the quantum revolution than they expect.
For now, quantum computing continues its march toward commercial viability, even if its audience is distracted. Shadbolt’s humorous warning signal – upgrading from a shared 1997 Toyota Camry to a Ferrari – might be worth watching for, even as businesses focus on more immediate technological challenges. The quantum computing breakthrough might arrive sooner than expected, ready or not.
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