New IBM research shows that companies are investing more in quantum technology, but the shortage of specialized talent and the lack of strategy are hindering progress.
Companies currently spend 11 percent of their R&D budget on quantum computing. Yet, the average Quantum Readiness Index remains at 28 out of 100. This is according to new research from IBM. According to the researchers, the lack of qualified talent is the biggest obstacle. 61 percent of the surveyed organizations indicate that they struggle to find people with expertise in quantum technology.
Talent shortage
The research shows that the gap widens as companies integrate quantum computing more deeply. In organizations where quantum is a significant part of the strategy, the talent shortage rises to 90 percent. Other challenges include the immaturity of the technology, unclear timelines for concrete applications, and the cost of hardware.
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Bart Windal, General Manager of IBM Belgium & Luxembourg, emphasizes that companies need a scalable approach for both AI and quantum computing if they want to achieve a return on their investments. The research shows that organizations already developing a quantum strategy expect a higher return on investment (ROI) by 2030 than companies that are waiting.
Belgian ecosystems
During a roundtable at IBM’s ‘Put AI to Work’ event in Brussels, the importance of ecosystems in Europe was emphasized. According to Petra Florizoone, Director of Global Partnerships & Business Development for IBM Quantum, Europe has strong research centers and industrial networks, but organizations are still too slow to move towards practical implementation. She states that investing in strategy and talent is a necessary condition to remain competitive.
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Raf Degens, General Manager of Corda Campus, emphasizes that collaboration between companies, startups, and academic institutions is essential to support the growth of quantum initiatives. From the financial sector, Thomas Rotté, Software Engineer at KBC, points to the potential for applications in areas such as risk modeling and portfolio optimization.
The IBM Institute for Business Value conducted the research among 750 executives in 28 countries and based its findings on 45 criteria to determine the Quantum Readiness Index.