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Nearly nine in 10 UK business leaders believe quantum computing will disrupt their industry before the end of the decade, according to new research from EY and the National Quantum Computing Centre (NQCC).
The report found that 87 per cent of executives expect quantum technologies to have a significant impact on their sector by 2030. As a result, organisations are already beginning to assess how the technology could transform operations, security and innovation.
The study surveyed 500 senior leaders from UK businesses with annual revenues of more than £150 million across sectors including financial services, technology, manufacturing, retail and professional services.
More than a third of respondents said quantum computing has become a strategic priority for the next five years. The figure rose in the financial services industry, where more than 67 per cent of organisations said they have already placed quantum on their strategic agenda.
Despite growing awareness of the technology’s disruptive potential, almost 60 per cent of those surveyed said they do not expect quantum computing to play a significant role in core business operations until 2030 or later.
This is leading to a preparation gap, the report notes; while 83 per cent of business leaders identified loss of competitive advantage as the biggest risk of failing to adopt quantum computing, only 13 per cent plan to recruit specialist talent within the next two years.
The research highlighted several emerging use cases across industries. Financial institutions are exploring how quantum computing could strengthen fraud detection and anti-money laundering processes, while automotive manufacturers are investigating applications in electric vehicle battery development and traffic optimisation.
Business leaders also identified a range of risks associated with the technology. Alongside concerns about losing competitive advantage, 81 per cent cited the risk of existing IT systems becoming outdated, while 80 per cent highlighted uncertainty around future regulation and compliance requirements.
Complexity remains the biggest barrier to adoption, with 80 per cent of respondents identifying it as a challenge.
“Quantum computing is moving from long-term promise to strategic business consideration,” said Dr Simon Plant, deputy director for innovation at the NQCC. “Organisations that begin building awareness, skills and practical use cases now will be better positioned to respond as the technology matures over the coming decade.”
