Its still early days, but quantum is heating up. Quantum computing is early in the maturity cycle, but the landscape is heating up. IBM launched Osprey, a 433-qubit machine, last year and has set its sights on building a 100,000-qubit machine within 10 years. Google is targeting a million qubits by the end of the decade. Other players in the nascent space include D-Wave Systems, IonQ, Rigetti Computing, Honeywell, Microsoft, Intel, and PsiQuantum with some of the companies offering quantum computing services in the cloud. Fortune Business Insights has projected that the quantum computing market will grow from $928.8 million this year to $6.5 billion by 2030, a compound annual growth rate of 32.1%.

As quantum computing continues to gain momentum in the tech industry, leaders across various sectors need to stay informed and prepared for the potential impact on their businesses. With major players like IBM and Google pushing the boundaries of quantum technology, the landscape is rapidly evolving, with the promise of significant advancements in the near future. Companies such as D-Wave Systems, IonQ, and Microsoft are also making strides in this nascent field, offering quantum computing services in the cloud. Fortune Business Insights projects exponential growth for the quantum computing market, with a predicted increase from $928.8 million to $6.5 billion by 2030, showcasing the immense potential for this groundbreaking technology. Leaders must stay ahead of the curve, understanding the capabilities and implications of quantum computing as it continues to disrupt traditional computing paradigms. Stay informed with insights from MIT Sloan at the link provided.

Quantum computing: What leaders need to know now