The quantum technology market holds immense potential and is expected to rise to USD 2 trillion by 2035, according to the latest study conducted by global management consulting firm, McKinsey & Company.
For decades, the concept of quantum technology remained theoretical, driving the interest of scientists and visionaries alike.
With the impending emergence of this scientific breakthrough, existing technologies are set to be transformed, propelling industries to tap into the unchartered areas of innovation to catapult enterprises into new horizons.
As we stand on the brink of a new eon, unprecedented technological advancements are leading the way to accelerate the world’s transition to the quantum era.
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From the Digital to Quantum Era 2.0
The transformative power of quantum technology will profoundly alter how industries operate, significantly accelerating productivity, economic growth, sustainability, and security.
Interestingly, this major technological leap is not the first time its power has been harnessed. Quantum era 1.0 laid the groundwork for today’s microprocessors and optical networks that reinforce our current digital infrastructure.
As we navigate the 2.0 eon, we may find quantum computers turning existing encryption algorithms obsolete, as noted by IBM.
The World Economic Forum (WEF) estimates a market value of up to USD 72 billion for quantum computing, USD 15 billion for quantum communication, and USD 2.7 billion for quantum sensing by 2035.
According to Finnish telecommunications giant, Nokia, quantum technology can establish unbreakable communications and data security, indicating a significant leap in digital innovations.
By integrating superposition and entanglement, quantum computers can manipulate subatomic particles, delivering ultra-strong processing powers to perform complex calculations.
Intricate calculations can be solved 100 million times faster by quantum computers, a massive leap compared to traditional computers. This translates to quantum computers providing answers in just minutes compared to ordinary computers, which may take thousands of years to compute.
The advent of quantum networks will play a vital role in distributing quantum computing and establishing the most secure and private communications systems. Telecommunication operators can significantly advance network capabilities and traffic modeling for enhanced user experiences and service delivery.
In addition, the forthcoming development of quantum sensing will transform our understanding of the world, paving the way to detect natural phenomena and enhancing existing sensors. This will drastically improve our ability to respond to global challenges.
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Risks and Challenges in the Quantum World
As we facilitate our transition to the quantum world, countries around the globe are racing to be one of the first to adopt its transformative benefits. However, this powerful emerging technology poses elevated risks and challenges that might be critical to industries and enterprises.
While quantum computing is poised to revolutionize cybersecurity, cyber threats, like the decryption of secure data, may persist, threatening global security. This emerging concern represents the need to mitigate potential risks for national security and maintain technological resiliency.
This developing innovation can be powerful enough to disrupt the most widely used security measures that safeguard global data and communication. Often referred to as Q-Day, the advent of Cryptographically Relevant Quantum Computer (CRQC) will expose data encryptions to cyberattacks.
The misuse of quantum computing will leave encrypted data at risk, which may lead cyber attackers to harvest now and decrypt later (HNDL). Once CRQC arrives, threat actors can use the previously gathered encrypted data.
Various industries, including telecommunications, defense information technology (IT) infrastructure, public safety information, and more, will be impacted by this quantum-based cyberattack.
According to Nokia, CRQCs are expected to arrive 10 to 25 years from now. This suggests that its emergence is inevitable, considering the rapid technological advancements.
Swedish telecommunications company, Ericsson, affirms that the forgery of certificates and installation of fraudulent firmware updates are possible in CRQCs.
Additionally, unequal access to quantum technology and a gap in a knowledge-equipped workforce may remain, particularly in countries left behind in quantum research, development, and adoption.
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Global Quantum Advancements
The full power of quantum technology may be harnessed for at least a decade from now, however, various enterprises and countries are already preparing for its advent.
In 2019, Google achieved a quantum breakthrough by designing a machine that only required 200 seconds to solve a complex problem compared to a supercomputer which would take 10,000 years to calculate.
In 2022, the GSMA introduced the Post-Quantum Telco Network Taskforce, protecting telecommunication companies through policies and regulations prior to the advent of quantum computing. IBM and Vodafone have reportedly already signed up for the initiative.
Ericsson, established a collaboration with the University of Ottawa and the Universite de Sherbrooke, to launch a quantum research hub in Montreal, Canada, in 2023. Utilizing quantum-based algorithms, the research hub will pave the way to transform processes in telecommunication networks.
Recognizing the immense potential of quantum technologies, the United Kingdom (UK) inaugurated its National Quantum Strategy in 2023, as part of the five priorities of its Department for Science, Innovation and Technology (DSIT). The 10-year vision and strategic project aims to position the UK at the forefront of quantum-enabled economies, fostering enhanced prosperity and security.
In the same year, Nokia accomplished the hybrid quantum-safe network (QSN) network trial along with HellasQCI, ensuring network readiness for future quantum-level cyberattacks. Under quantum networking, Nokia and Nokia Bell Labs directly focus on projects related to quantum internet, repeater, information theory, and optical quantum communications.
Meanwhile, Ericsson is advancing crypto agility and supports the United States National Institute of Standards and Technology’s (NIST) Migration to Post-Quantum Cryptography (PQC) project by participating in standardization initiatives.
In 2024, the WEF released the Quantum Economy Blueprint to aid regions and countries in developing and commercializing initiatives for quantum technology. This roadmap is poised to provide a framework for mounting a national quantum ecosystem.
Additionally, the WEF affirmed the United Nation’s (UN) focus on quantum computing, quantum sensing, and quantum communication to achieve its Sustainable Development Goals (SDGs) by 2030.
Meanwhile, the Middle East stands at the forefront of adopting modern technologies, including 5G, artificial intelligence (AI), machine learning (ML), and 6G research and development (R&D). Driven by the desire to revolutionize economic growth by leveraging new technological advancements, the region also heavily invests in quantum computing.
In 2018, in collaboration with Microsoft, the Dubai Electricity and Water Authority (DEWA) facilitated the first comprehensive quantum computing training program, developing quantum computing solutions to produce, transmit, and distribute energy and water within the Emirates.
Abu Dhabi’s Technology Innovation Institute (TII) inaugurated the Quantum Research Centre (QRC) and announced its plans to build the UAE and Gulf Cooperation Council (GCC) region’s first quantum computer. In addition, TII launched the 2,363 sqm Abu Dhabi Quantum Optical Ground Station (ADQOGS) earlier this year to develop ultra-secure global communications.
Most recently, the UAE’s leading systems integrator, ITQAN, and Boston-based, neutral-atom quantum computing company, QuEra Computing, collaborated to advance the UAE’s adoption of real-world quantum computing applications.
Qatar’s Hamad Bin Khalifa University (HBKU) also established the Qatar Center for Quantum Computing (QC2), concentrating on quantum computing, cryptography, and quantum AI. The initiative aims to achieve Qatar’s Digital Agenda 2030, bolstering its status as a global player in modern technologies.
Ooredo Qatar, the country’s leading telecommunications operator, recently invested in QC2 to support the establishment of the nation’s first quantum communication testbed.
Furthermore, Saudi Arabia has already implemented the WEF’s Quantum Economy Blueprint, in alignment with their Vision 2030 goals.
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Final Thoughts
The world stands on the brink of a quantum revolution, unlocking new knowledge and potential that will eventually change how we live and work. This paradigm shift in our digital ecosystem will take global industries and economies to new heights, leading to monumental discoveries and innovation.
As we march into the era of quantum technologies, governments, researchers, and operators must foster international collaboration to establish a quantum-safe ecosystem. This united effort will be critical in harnessing its power to promote a quantum-based environment and accelerate economic growth.
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