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| • | Speedy and secure. There are two big reasons leaders should care about quantum computing. The first: quantum computers are much faster than conventional ones at solving problems. For instance, a typical computer would take billions of years to figure out the prime factors of large numbers, but a quantum computer takes only a few days. The second reason: since prime factorization underpins a great deal of today’s IT infrastructure, quantum computing will put an end to our present-day cybersecurity systems, which means companies that don’t update their IT systems will be powerless against cyberattacks. [HBR] | | | | • | With great power. When a commercial-grade version of a quantum computer arrives, it will deliver an explosion of computational power that will enable the world to do what it has only imagined before. Quantum computers can run simulations that could help companies speedily develop new medications and materials, for example. However, quantum computers could also be used to design bioweapons and hack into communications systems. Strong governance is therefore needed to manage the risks and maximize the benefits. [WEF] | | | | • | Young and growing. Quantum computing is a nascent field, but it’s growing fast. Public funding still accounts for the majority of global investment dollars, but private investment in quantum-computing technologies is rising, reveals McKinsey’s biannual publication, The Quantum Technology Monitor. In 2021, public funding for quantum computing reached $30 billion, while private funding for start-ups totaled $3.5 billion. Nearly 200 start-ups are working to develop quantum technologies. | | | | • | Where the talent is. Asia is leading the world in quantum-computing innovation and talent, McKinsey analysis reveals. China and Japan both hold 27% of global patents, compared with the US’s 19% and the EU’s 16%. Of the global pool of about 526,000 people with quantum-computing skills, nearly 30% reside in India. For examples of what the business world can achieve with quantum computing, visit our collection page, “The Rise of Quantum Computing.” | | | | — Edited by Belinda Yu | | This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. | | You received this email because you subscribed to the On Point newsletter. | | | | Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007 | | | |
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