According to a recent Zapata Computing analysis, organizations’ commitment is growing, indicating a developing market with broad, worldwide interest and greater urgency surrounding post-quantum cyber security concerns.

According to the study, the increased interest in quantum translates into an investment, as 71% of quantum-adopting firms have current quantum computing budgets of more than $1 million. This is a 2.5X increase from 2021 when just 28% of quantum-adopting respondents reported having a quantum computing budget of more than $1 million.

Given this net-positive change in expenditures, it’s no wonder that 74% of company executives have implemented or intend to use quantum computing. Surprisingly, over 30% of respondents who have used or plan to use quantum computing anticipate gaining a competitive edge in the next 12 months.

This represents a more than sevenfold increase from 2021 (4%) and demonstrates the increased commitment to near-term quantum computing activities as the technology matures.

“We’re getting a unique view into global corporate leaders’ quantum adoption attitude, which parallels what we’re witnessing in our client base,” said Christopher Savoie, CEO of Zapata Computing.

Over the last year, we’ve witnessed substantial new technological advancements, notably generative AI, and near-term benefits from quantum-inspired technologies, boosting quantum computing planning and implementation momentum. Consequently, more businesses are investigating what is achievable with today’s hybrid quantum-classical computing capabilities, as well as how the potential of quantum computing may affect their competitive position — and, ultimately, their financial outcomes.

Machine learning and data analytics remain the most prominent quantum application cases. Beyond one-time trials, organizations focus on well-defined use cases and challenges, with 71% of quantum adopters concentrating on machine learning/data analytics concerns, up from 55% in 2021.

Concerns about vendor lock-in are very ubiquitous.

For example, 91% of respondents are worried about vendor lock-in, which becomes an issue when technology is set to be deployed to solve real-world, commercial-grade difficulties. In addition, it is too early to predict which hardware design will win, and users are apprehensive about adopting a paradigm that may not be the most excellent fit for their requirements in the long run.

Cyber security risks in the post-quantum era.

In addition to being the most significant barrier to quantum adoption, 65% of respondents are very worried about post-quantum cryptography (PQC), and 63% are actively working with a vendor to prepare. Concerns stem from the severity of the danger presented by quantum computers and the lack of clearly dependable remedies.

Integration issues still need to improve adoption.

The difficulty of integrating quantum computing with conventional IT stacks was ranked second, only to security concerns, as the most significant barrier to quantum adoption. This challenge’s persistence was mirrored in the top factors for choosing quantum providers, with 51% favouring simple-to-use solutions and 50% prioritizing easy interface with current IT.

The expectation of improved commercial outcomes fuels quantum adoption. Driving greater performance and business outcomes is the primary motivator for studying quantum computing, with 70% of quantum-adopting respondents indicating this motive, up from 60% in 2021.

Quantum adoption becomes tactical for businesses.

Respondents said that they are constructing new apps (48%), doing tests on quantum hardware or simulators (62%), and exploring and building proofs of concept (51%).

In 2022, firms expanded their activities in each phase compared to the previous year. The most significant movement was toward trials on quantum hardware, which increased from 48% of organizations in 2021 to 62% in this year’s report.

The adoption of quantum technology outpaces that of artificial intelligence. According to business executives, quantum technology is being adopted faster than artificial intelligence. For example, 49% of respondents believe they are adopting quantum faster than AI, with 17% saying they are taking a slower approach.