India is in a position to be a key player in determining the direction of quantum computing as it quickly moves from research to practical uses implying real use cases and applications.
According to a recent Primus Partners study, in order to fully realize the potential of this game-changing technology, industry executives throughout India are advocating for large expenditures in quantum research and workforce development.
200 senior executives and CXOs participated in the poll, which focuses on the crucial steps required to advance India’s leadership in quantum computing—a technology that is predicted to transform industries like cybersecurity, healthcare, and logistics.
Quantum’s Game-Changing Impact Across Sectors
Leaders in the field are optimistic about how quantum computing will change other businesses. Almost 75% of those surveyed believe that quantum will revolutionize India’s future. Healthcare and Drug Discovery (61%), Cybersecurity and Cryptography (68.1%), and Artificial Intelligence and Machine Learning (79.4%) are the industries most anticipated to gain.
These results demonstrate how crucial quantum computing is to India’s technological development. For example, AI and machine learning are expected to advance significantly, with quantum algorithms perhaps opening up new possibilities for processing efficiency and power.
Similar to this, quantum’s capacity to handle enormous volumes of data might significantly enhance encryption techniques in cybersecurity and cryptography, protecting India’s digital infrastructure. Quantum technology has the potential to transform drug discovery in the healthcare industry by increasing its speed and accuracy, which would ultimately improve public health outcomes.
Key actions to unlock Quantum’s full potential
Industry leaders agree on the crucial actions India needs to take in order to realize the transformative potential of quantum computing. 74.5% of respondents emphasized the urgent need for additional investment to accelerate quantum innovation and guarantee that India remains competitive in the global quantum race, making research and development (R&D) funding a top priority.
Developing a trained workforce is considered essential for the nation’s quantum future, in addition to research and development. Building a highly skilled workforce pool that can propel the next generation of quantum breakthroughs is crucial, according to 61.7% of respondents.
India runs the risk of lagging behind in this quickly changing industry if it lacks the requisite talent.
Industry leaders see quantum as a poweful tool for tackling important societal issues in addition to R&D and talent development. According to 63.1% of respondents, quantum computing could improve financial institutions by increasing their security, efficiency, and transparency.
Similarly, 61.7% believe that one important area where quantum technology might have a significant influence is in advancing healthcare access, especially in disadvantaged areas, hence enhancing India’s public health and social infrastructure.
Challenges to overcome: R&D Costs, Talent Gaps, and Collaboration Needs
The survey also identifies important obstacles to its broad use. One of the main barriers impeding faster breakthroughs in quantum technology, according to 70.9% of respondents, is the expensive expense of research and development.
Furthermore, according to 62.4% of respondents, another significant obstacle that needs to be removed in order to fully realize the potential of quantum innovation is the lack of qualified personnel. Along with these difficulties, 45.4% of leaders stress the value of cross-sector cooperation.
They emphasize that in order to overcome the financial and talent-related obstacles to quantum growth, governments, the business sector, and international organizations must work together more closely. This cooperative strategy will be essential to advancing innovations and guaranteeing India stays at the forefront of the global quantum race.
Devroop Dhar, Co-founder and Managing Director of Primus Partners stated, “Quantum technology holds the potential to solve some of the most complex problems in materials science, drug discovery, financial modeling, and cryptography. This technology will significantly enhance national security, drive economic growth, and create millions of jobs. Our survey clearly indicates that industry leaders recognise the urgent need for strategic investments and skill development in this field.”
With global competition accelerating, India must act quickly affirms Primus Partners latest study. 32.6% of respondents believe practical quantum applications will be realised within 3-5 years, while 27.7% estimate it will take over five years before quantum computing becomes widely deployed. This timeline underscores the urgency for India to make the necessary investments in R&D, build the required talent pool, and forge global partnerships.
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