Transcript 0:00 [upbeat music] Welcome back to the Peggy Smedley Show, your voice for our connected world with your host, Peggy Smedley. [upbeat music] Hello, listeners, and welcome to today's edition of Peggy Smedley Show. 0:18 I'm your host, Peggy Smedley. Quantum technology could generate up to ninety-seven billion in revenue worldwide by twenty thirty-five. 0:28 Now, there are a few reasons for this growth that we're gonna talk about on the show today. For one, there are some funding behind this movement. 0:36 There's also new innovation emerging and some progress happening in the world of patents, which is really interesting when you think about what's happening and how patents influence all of this growth. 0:48 So here on this segment, we're gonna break all of this down, and we're gonna look at three pillars of quantum technology. 0:55 Now we're gonna identify the growth anticipated for each pillar, and we will dig into the opportunities and what is on the horizon for each of these. Now, let's talk about quantum technology. 1:11 If you have been following our content at connectedworld.com, then you know we have been covering quantum all this month. 1:20 Now, we kicked off the month looking at quantum's relationship to AI and a new project in Chicago called the Illinois Quantum and Microelectronics Park. 1:32 Now, I love this because this quantum park is really exciting, and it says something different about Chicago. 1:38 Now, I was born and raised in Chicago, and I love that Chicago wants to be this innovative approach to the city, something that we've always seen in Silicon Valley, but now Chicago is diving in. 1:50 Tomorrow on the blog that I will be s- putting out, I will be doing a deep dive into the impact on vertical markets like manufacturing and healthcare, and hopefully you'll take a check out and look at that. 2:03 But so make sure to head over there and read all of the qu- content that I'll have on quantum. But first on the show, I wanna focus on the hard numbers in the state of the market. 2:15 So let's back up for a minute and talk about it. Many analysts and research organizations agree that there are three core pillars of quantum technology that will have a strategic impact. So let's talk about those first. 2:31 First is quantum computing, which could lead to gains in optimization, simulation, and material discovery. Now the second one I wanna talk about today is quantum communications. 2:45 Now, many of you may not know this could lead to post-quantum cryptography, secure networks, and what they call is regulatory compliance. 2:55 Now the third one, which is really interesting, is called quantum sensing, which could lead to ultra-precise measurements, predictive maintenance, and improved semiconductors and advanced manufacturing. 3:11 Now, all of these I think are extremely exciting. 3:14 In fact, McKinsey & Company suggests the three core pillars that we're talking about could together generate up to ninety-seven billion dollars in revenue by twenty thirty-five, and that's worldwide. 3:30 Now, quantum computing will capture the bulk of that revenue growing to as much as seventy-two billion dollars in revenue in twenty thirty-five. 3:40 Now, this is perhaps what most people think of when they first hear the word quantum or even the word when we talk about that whole worldwide discussion of it. 3:52 Simply, it is a computing method that uses quantum mechanics to solve computer problems. Seems pretty simple, right? The technology enables computers to do their work faster. Now, quantum qubits will be qu- key. 4:10 Now, you've heard me talk about this before on the show and you've seen it in some of my columns, but they're are fundamental unit of quantum information. Now, qubits can hold more information and more power. 4:24 Quantum computing will offer huge leaps in com-computational power that could redefine the scale and speed of AI model training. 4:37 So simply, quantum computers could solve more complex problems faster than ever before. 4:46 But let's also look at another area just for a few minutes here and dig a little bit deeper, which I think is interesting when we're trying to look at the big picture when we talk about quantum. 4:58 McKinsey suggests that quantum sensing, when we're looking at the bigger picture, could be worth as much as ten billion dollars by twenty thirty-five. 5:08 So quantum sensors could enable navigation, medical imaging, and so much more. 5:15 In fact, let's consider just some of the applications, 'cause this is when we think about quantum sensors and what they could do, it gives you a better idea of where they'll be applied. 5:27 So quantum sensors are quickly gaining interest for applications such as electric and autonomous vehicles, brain scanners. 5:37 Let's think about underground mapping equipment, even satellites, microscopes, and even consumer electronics. 5:46 IDTechEx suggests the market is anticipated, now I was looking at some numbers today, to generate revenues of more than one point nine billion by, in dollars, by twenty forty-six. 5:59 This represents an average growth rate of nine percent in the next twenty years. 6:05 That's pretty remarkable when you think about when we talk all over about q-Quantum, and we've been talking about quantum for quite some si- s- quite some time. 6:14 Notable advances in this area include NASA's first demonstration of an ultra-cold quantum sensor in space. 6:22 Now, we've also seen Quantum Diamond's launch of the diamond-based microscopy tool for semiconductor failure and analysis. And of course, these are only just a few examples of quantum sensing. 6:35 So we're seeing a lot of momentum, and we're seeing a lot of excitement. 6:39 Now finally, I want to turn your attention just for a few minutes to quantum communications, because I think this also tells a lot of where we're headed. 6:47 Now again, I want to talk about what McKinsey says this market could be worth. And McKinsey's saying this market could be worth as much as fifteen billion dollars by twenty thirty-five. 6:57 And again, we're seeing a lot of revenue, a lot of growth. And when the analysts talk, they pitch where the market's headed and what we're talking about. 7:04 Adopting quantum communications will be key for global security strategies in the future, especially with the Q-day on the horizon. 7:14 Now, what's exciting about Q-day is, I want you to think about this, is Q-day is the day when quantum computers will become powerful enough to break current encryption standards. 7:25 Now think about that, to break current encryption standards. So this will mean we will need a major shift in security. So this is significant. 7:36 So this means companies will need to leverage quantum communications, and they better start thinking about it. So McKinsey suggests the quantum communications landscape compromises of three key categories. 7:48 So let's go through those. First one is security, then we have networks, and of course, we have services. So you got to have all three to make this work. 7:57 Within these key vertical areas, we're talking about quantum key distribution solutions, post-quantum cryptography, which I mentioned earlier, modular interconnects, regional networks, quantum global internet, and of course, quantum communication services. 8:16 Now, if you think about all of those things, they're all coming together. 8:19 Now, even Juniper Research put something out, suggests that there are two primary forces driving an anticipated thirty percent growth for post-quantum cryptography between twenty twenty-six and twenty thirty-five. 8:34 The first is this rapid evolution of standards and regulations designed to prepare for Q-day. Now, the second is an ongoing research and development that is accelerating algorithm maturity through testing. 8:49 Now, we're going to go back to McKinsey because they suggest governments are the largest purchaser of quantum communication technologies, and that's roughly somewhere around fifty-seven percent of all purchases. 9:02 It's pretty significant if you're looking at the percentages right now. 9:05 So by twenty thirty-five, this may begin to shift a little as the telecommunication sector is expected to account for between anywhere sixteen to twenty-six percent of the overall spending. 9:19 It's an interesting shift if you think about it. So looking to the future, there are many opportunities to consider when you look at all three pillars of quantum technology. 9:30 So let's go and look at what McKinsey says because there's a few key industries we're going to see the most growth. 9:36 And I agree with McKinsey on this one when we think about chemicals, life sciences, finance, and even mobility. And yes, the quantum technology market could be worth ninety-seven billion dollars by twenty thirty-five. 9:52 We're talking ninety-seven billion. Again, that's a pretty significant market. 9:56 But looking even further out, McKinsey suggests the market could be worth as much as a hundred and ninety-eight billion dollars by twenty forty. 10:05 So we're seeing some really big growth, a lot of exponential growth in a short period of time. So it's worth noting, and it's worth all of this to take some consideration. 10:16 So with all this in mind, let's take a minute to share what I think is my opinion for all the things we've talked about today, and I think it's pretty significant when we look at where the quantum market is headed. 10:27 I think the quantum evolution, which we've been talking about, is inevitable. 10:32 I think we're seeing a lot of it, and it's offering opportunities, and it's also posing, and I think you need to pay attention to this, and if you're not, you should, risks bigger than we might have ever imagined. 10:45 Because we all thought quantum was going to be the next big thing, and there were no risks. Like anything, there are risks. New evolutions that could come as a result of this technology are truly exciting. 10:56 So let's not lose sight of that. It's very exciting. Now we're talking about new medicines, new materials, and new methods for working, which I think drive a lot of exciting things. 11:07 So there's some new areas are clearly moving faster than others. And we've talked about that. That's always the case when we see technology coming. Some areas move faster than others. 11:18 But we're starting to see large companies and startups working on quantum. And there's always been. 11:24 There's always been companies and organizations behind the scenes who take this technology or any technology, just like in AI or the new starters, the ones that jump in faster than others while others still stay on the sidelines. 11:36 But as we talk about it, the momentum is beginning to pick up, and it is something we simply can't ignore anymore. And you shouldn't ignore it. You should be excited about it. 11:46 So while this new innovations are exciting, the risks are also, I guess, are also risky. So that's what I would say. Don't just think it's exciting without the risks. There are risks. 11:57 So Q-day in particular requires careful consideration and I would say preparation. So let me give you my tip for today, and I want you to think about this. Prepare your company, for the world of data is changing forever. 12:11 We've talked about this. We said where it was always data, data, data. But now-We need to start thinking a little differently. It starts simply with education. Like anything, great education is the way to move forward. 12:24 Learning about the evolution of technology will help you prepare this next generation of workers for what comes next. We need to educate. We need to constantly skill, re-skill. It's always a constant learning process. 12:39 So recognize we have new opportunities with quantum computing, quantum sensing, quantum compu- communications. This is an exciting time. Like with all new innovation, it's always exciting, always with risk. 12:51 So prepare your companies for Q Day and other imminent dangers that are on the horizon. You have to recognize that they are on the horizon. So recognize the world of data is changing. 13:05 It's not that saying that we don't need data. We're always gonna need data, but they're changing. And I like to say this, the time is now to prepare for what comes next with technology. 13:17 And I would also say, don't sit on the sidelines. Don't wait for what happens and then jump in. Start doing that edges-- education. 13:25 Start looking for the next strategy, and encourage your people to want to be the ones that look for that. Those are the leaders who say, "I'm excited." How will your company prepare? 13:39 And I think even more, how will your team look to this? How will they be a part of this next strategy for being excited to help you jump into the next round of innovation? 13:52 And are they the innovators that are gonna help you come up with something new? So they're not ones that are just myopically looking into the future. They're the ones saying they can help you lead into the future. 14:04 So be creative, be innovative, and look at all this technology and research. What can you do with your companies? What new things can lead you into the future with it? Because I think that's what it's all about. 14:18 All right, listeners, I'm out of time for this first segment. Share your thoughts with me on X or follow me on LinkedIn and continue the conversation there. 14:26 Please check out our website at connecttheworld.com, our show website at thepeggySmedleyShow.com. Make sure to share your thoughts and subscribe to each episode each week. I wanna know what you think. 14:37 We've got more always each week to share, and follow us on LinkedIn and YouTube. We wanna know everything there. We're excited when you share your thoughts and follow us, so that's exciting for us. 14:47 This is The Peggy Smedley Show, your voice for our connected world. And remember, with great technology comes great responsibility. [upbeat music]
