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Quantum Computing future game-changer

Over 85 pc industry leaders call for major investments

by Blitz India Media
November 14, 2024
in Business & Economy
quantum computing
Blitz Bureau

NEW DELHI: More than 8 in 10 (85 per cent) industry leaders in the country have called for major investments in quantum computing, as India pushes for building new capabilities under the National Quantum Mission.

As 75 per cent of respondents view quantum as a game-changer for the future, the sectors expected to benefit most include artificial intelligence and machine learning (79.4 pc), cybersecurity and cryptography (68.1 pc) and healthcare and drug discovery (61 pc), according to a report by Primus Partners.

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“Quantum technology holds the potential to solve some of the most complex problems in materials science, drug discovery, financial modelling, and cryptography,” said Devroop Dhar, CoFounder and MD of Primus Partners. This technology will significantly enhance national security, drive economic growth, and create millions of jobs, he added.

As quantum computing rapidly advances from research to real-world applications, India is positioned to play a pivotal role in shaping the technology’s future. India launched the National Quantum Mission in April 2023 to build capabilities in quantum-related science and technology. Today, there are more than 600 scientists and over 50 startups working in quantum technology in the country.

According to the report, investing in research and development (R&D) emerges as a top priority for industry leaders, with 74.5 per cent of respondents emphasising the urgent need for increased investment to drive quantum innovation and ensure that the country remains competitive in the global quantum race.

In addition to R&D, developing a skilled workforce is seen as vital for the country’s quantum future. About 61.7 per cent of respondents highlighted the importance of building a highly-skilled talent pool capable of driving the next generation of quantum breakthroughs. Industry leaders also view quantum as a powerful tool for addressing significant societal challenges.

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