QURECA included in latest WEF report State of Quantum Computing: Building a Quantum Economy 2022

QURECA, the leading quantum technology education provider, is delighted to announce our inclusion in the latest World Economic Forum (WEF) report titled “State of Quantum Computing: Building a Quantum Economy”. The report, published on 13th September (2022), offers insights into the current state of the quantum computing industry, and is designed to guide business leaders, policymakers and others on preparing for the technology as it matures, emphasising its strategic significance and potential impact across various sectors of the global economy​​.

Quantum computing (QC) is developing rapidly, with public funding reaching around $30 billion globally, but the technology has not reached maturity yet. The potential of quantum technologies (QT) is unprecedented, as they mimic chemical and biological systems, solve logistical and financial optimisation problems, and empower fundamental science and existing technologies. Despite this potential, cybersecurity concerns and unrealistic business expectations undermine the development and adoption of technology. This report by the Global Future Council on Quantum Computing aims to provide clear, concise, and neutral assessment of the current state of the QC industry, advising business leaders and policy-makers on actions to be taken now to prepare for the technology once it matures.

This report offers guidance in four areas: Chapter 1 looks at the current level of funding, industry growth and national interest in QT. Where is money coming from? What are the highest growing areas? Which countries are taking this technology seriously, having developed a quantum strategy? Chapter 2 examines the potential of QC. What can it do now? What will it be able to do? Although the promise is great, use cases are concentrated within a few industries. The technology is also not a silver bullet for the climate crisis, despite its potential to offer a great deal of help. Chapter 3 provides an overview of existing approaches to building a QC – against a simple, original model. It sheds light on what it will take for quantum computers to be ready, why they are not there yet, why it is so hard to predict which approach (and organisation) will be first to develop a useful quantum computer, and when it will happen. Lastly, the chapter touches on the link between the maturity of QCs and their ability to run quantum applications – and break today’s encryption. Chapter 4 examines whether quantum ecosystems have all the necessary enablers to support innovation. What is the limiting factor for any organisation that wants to explore QC applications? Why is it so difficult to find the right QC provider to partner with?

QURECA’s expert contribution comes from our Founder and CEO, Dr Araceli Venegas-Gomez, providing valuable research and co-creation credit throughout the report particularly when discussing global efforts in public funding and Master’s programmes in QT. At QURECA, we maintain a keen interest on national activities in QT, regularly reviewing active educational initiatives and more to understand the regional focus and the growth of quantum workforce. Read more about the latest WEF report here: https://www.weforum.org/publications/state-of-quantum-computing-building-a-quantum-economy/

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