Picture a world where computers can solve problems in seconds that would take today’s most powerful supercomputers thousands of years. The quantum economy is not just a distant dream – it’s unfolding right now, offering unprecedented opportunities for those ready to seize them. To harness this potential, business leaders must strategically position their organizations at the forefront of this revolutionary wave, driving growth, innovation and competitive advantage.

Embracing the Quantum Economy – A Pathway for Business Leaders, a new World Economic Forum report in collaboration with Accenture, explores the advancements in quantum computing, sensing and communication, discusses their impact on various industries and outlines strategic steps for businesses to get started with these technologies.

Quantum technologies are unlocking new capabilities in computing, sensing and communications that promise to revolutionize numerous industries, including energy, aerospace, healthcare, pharmaceuticals and many others.

As quantum technologies progress beyond their developmental stages, their impact on the energy sector, for instance, could be profound. With the ability to optimize complex systems, quantum computing offers the potential to improve grid management and facilitate the integration of renewable energy sources, enhancing both efficiency and sustainability. In the pharmaceutical industry, quantum computing could transform drug development, particularly in early-stage discovery, by enabling highly precise physical simulations that accelerate breakthroughs and reduce costs.

Quantum sensing further expands the possibilities for innovation across industrial sectors. This technology holds the promise of significantly improving precision in healthcare diagnostics and imaging, enabling earlier and more accurate disease detection, which is vital for effective treatment. Additionally, quantum sensing introduces disruptive capabilities for land and sea monitoring activities, such as redfining Earth Observation (EO) by offering unmatched accuracy, sensitivity and stability. These advancements would directly impact disaster assessment and environmental monitoring, providing tools for more effective responses to global challenges.

Real-time, quantum-led environmental diagnostics could emerge as a valuable service, while specialized firms focused on quantum-enabled carbon emission monitoring and compliance could play a key role in addressing climate challenges. These applications demonstrate the vast commercial potential of quantum sensing as it transitions from experimentation to widespread deployment.

Quantum technologies’ disruptive potential is poised to not only redefine existing industries, but create entirely new ones. Quantum communications is a clear example, emerging as a distinct sector from traditional telecommunications. This field promises ultra-secure communication channels that are immune to hacking, a feature critical for national security and the protection of sensitive data.

The integration of quantum technologies with artificial intelligence (AI) represents another avenue for groundbreaking change. Quantum-AI-enhanced models could enable capabilities far beyond those of classical systems, potentially even leading to the creation of entirely new industries. For instance, this fusion could drive the discovery of new materials tailored to specific applications in aerospace, energy, manufacturing and others. Each new material discovered has the potential to spark growth in the relevant industry, reshape supply chains and enable innovations that were previously unattainable.

The rapid expansion of quantum materials such as superconductors further underscores their industrial potential. These materials are foundational to advancements in quantum computing, sensing, energy and electronics. As commercialization progresses, they are poised to drive entirely new industries, shaping the future of global technology and redefining the boundaries of innovation.

From ultra-secure communication networks to quantum-AI-enhanced material discovery, the quantum revolution is a catalyst for unprecedented economic and societal change, not just shaping the future, but building it.

Early adopters of quantum technologies are uniquely positioned to gain a significant competitive advantage by leveraging the advancements to optimize operations, improve top-line growth and create entirely new revenue streams. For businesses aiming to embark on this journey, a strategic approach is essential, guided by three fundamental principles: building in-house expertise; making targeted investments; and fostering collaboration within the quantum ecosystem.

The first step is to focus on developing in-house expertise. Building a team with the skills to understand and apply quantum technologies is vital for driving innovation and aligning quantum strategies with business goals. Companies should prioritize investment in education and training to upskill their existing workforce, collaborating with universities and research institutions where relevant and ensuring employees can grasp quantum principles and apply them to practical scenarios. Establishing this strong internal knowledge base empowers businesses to explore quantum opportunities, implement novel solutions and position themselves strategically for a quantum-driven future.

Equally important is crafting a strategic investment plan. Strategic allocation of resources ensures that quantum initiatives are not only forward-thinking, but also aligned with broader business objectives. Companies must dedicate funding to quantum research and experimentation, while also investing in infrastructure that prepares them for quantum integration, such as cloud-based quantum platforms and post-quantum cryptography. Supporting innovation through startup investments and intellectual property initiatives – such as filing patents for quantum algorithms and applications – can secure a competitive advantage. By carefully assessing market potential, regulatory considerations and risk factors, businesses can make informed decisions that pave the way for success in the emerging quantum economy.

The final step involves engaging with and helping to shape the quantum ecosystem. Collaboration across industries, academia and government is essential for accelerating the development and adoption of quantum technologies. By working with consortia and public-private partnerships, businesses can share knowledge, resources and infrastructure, enabling faster progress in the field. Active participation in shaping policies, standards and frameworks not only influences the trajectory of quantum advancements, but also ensures that businesses remain at the forefront of this rapidly evolving landscape.

By taking a proactive approach rooted in these three strategic steps, businesses can unlock the transformative potential of quantum technologies while mitigating risks. Focusing on talent development, strategic investments and ecosystem collaboration ensures that companies are not just prepared for the quantum era, but are positioned as leaders in a new global economy.

The Forum’s Quantum Application Hub provides an experiential platform to explore quantum technologies, share knowledge, resources and case studies and explore partnerships to develop tailored quantum solutions for your business. The industry-specific working groups provide insights and enable collaboration to equip you to navigate the complexities of the quantum economy and lead your organization to long-term success and growth.

To navigate the quantum economy, businesses should formulate a quantum roadmap. Below are some of the steps recommended for business leaders:

We are thrilled to feature your flagship quantum applications on the Forum’s Quantum Application Hub. By joining our awareness-building initiatives, you’ll have the opportunity to shape the future of quantum technology. Collaborate with industry leaders and regulators to co-design strategic industry roadmaps, and play a pivotal role in implementing the Quantum Economy Blueprint across various regions.