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A leader’s guide to understanding quantum technologies

Prepare to reboot ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
Leading Off

Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
An image linking to the web page “What is quantum computing?” on McKinsey.com.

While traditional computers are built on bits—a unit of information that can store either a zero or a one—quantum computers are constructed on quantum bits, or qubits, which can store zeros and ones at the same time. This feature, called superposition, makes quantum computers exponentially more powerful than classical computers, allowing them to work faster, make many different calculations simultaneously, and deliver a range of possible answers to previously intractable problems. Developing quantum computers is an uphill task: qubits are volatile and prone to error, and powering a quantum computer large enough to connect the millions of qubits needed to operate at scale may be cost prohibitive. “But leaders in every sector can—and should—prepare for the inevitable quantum advancements of the coming years,” note McKinsey experts. “Quantum computing alone could account for nearly $1.3 trillion in value by 2035.”
An image linking to the web page “Blocking out the noise: An interview with a quantum computing expert” on McKinsey.com.

“Quantum is not the end goal,” says physicist Théau Peronnin in a conversation with McKinsey partner Henning Soller. “The end goal is to change the scale at which we can compute, which can drive better engineering and thereby increase value creation.” Peronnin, CEO and cofounder of Alice & Bob, a company of physicists and engineers working to build a universal fault-tolerant quantum computer, believes that it’s not too early for businesses to prepare for quantum computing. “Quantum is all about first-mover advantage,” he says. For example, in the automotive industry, the first company to leverage new hardware may be the first to gain intellectual property rights to novel battery design. But it can take several years to ramp up the resources and talent necessary to seize the opportunity when it arrives. “It’s important not to get lost in proofs of concept,” cautions Peronnin. “Companies should start by doing value calculations and prioritizing use cases.”
An image linking to the web page “The path forward for quantum computing” on McKinsey.com.

Can a cat be both alive and dead at the same time? Yes, until it is observed, according to the physicist Erwin Schrödinger’s famous thought experiment in 1935. Cat qubits, named after this paradox, allow for error correction by suppressing one type of error out of two that could affect quantum computing. For organizations that are thinking about implementing the technology, that means getting at least one step closer to making it commercially viable. “The challenge of bringing quantum computing to market is massive—comparable to the human genome project or landing on the moon,” note McKinsey senior partner Rodney Zemmel and colleagues. “But with enough money, scientists and engineers will eventually be able to overcome the challenges of building a quantum computer—and unlock significant market opportunities.”

Lead with quantum technology.

— Edited by Rama Ramaswami, senior editor, New York

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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 04:42 - 20 May 2024