Quantum Computing
Getting started with QC | A practical guide
October 2023
Newsletter #5
Our Team at the Digital X talking about the PwC Quantum Computing use case
1. To be a pioneer in quantum computing, how can you leverage the potential of QC now?
Quantum computing has the potential to solve complex challenges for businesses and society that are unsolvable or impractical to solve with conventional computers. This is why many governments, organizations, institutional investors and VC funds are investing significant sums in quantum computing technology. It is important to gain a competitive advantage in this race. However, it is important to realize that quantum computing also poses a threat to businesses by exposing vulnerabilities in various areas, such as today's cutting-edge cybersecurity landscape. We support you in taking a pioneering role in the market and setting the course now for the future use of computing power on a whole new scale. In our practical guide, we outline the first steps that you can take to navigate your journey into the quantum computing era and be prepared for the challenges ahead.
“Quantum computers herald a new era in the world of information technology. Those who can recognize the opportunities and risks for their own company at an early stage will be able to carefully position themselves as a pioneer.”
Sebastian Paas, Partner & Cloud & Digital Leader, PwC Germany
2. A step-by-step guide on how you can get started
1. QC Exploration
Start by defining and assessing the strategic importance and business objectives associated with quantum computing in your organization. Pinpoint areas where quantum computing could potentially confer a competitive edge, taking into consideration factors such as your organization's level of readiness / maturity, the general direction of current market and the cost-to-benefit ratio. We at PwC build on your strategic objectives and help to set the right direction with an outside-in analysis together.
2. QC Ecosystem
The ecosystem business is on the rise: 7 out of 10 largest companies worldwide work in ecosystems. Building ecosystems is a new way of innovation which can lead to significant business value. Partnering with relevant QC hardware and software providers enables your organization to establish a strong position within the quantum computing ecosystem. In addition, building partnerships with quantum hardware providers such as IBM, Google or Rigetti can help your company gain access to quantum computing resources, develop joint projects and keep up to date with advances in quantum hardware. Identify partnerships, funding opportunities and discover potential collaborators that meet your needs. Leverage our extensive network so we can help you build and maintain the right alliances and partnerships.
3. QC Blueprint & Prototyping
Start by assessing your requirements for adopting quantum computing and identify suitable use cases that align with your overall strategic objectives. Prepare your organization for the technology by building internal QC expertise through upskilling your existing workforce, foster a culture of innovation and invest in the necessary infrastructure such as quantum programming tools and platforms to experiment with quantum algorithms and simulations. With our years of experience in implementing new technologies and proven best practices, we can help you set the foundation for a successful entry into the quantum computing world. We can help you to develop QC prototypes and create algorithms to solve concrete mathematical problems, providing maturity assessment, adoption roadmap creation, and prototyping services tailored to your organization’s needs.
4. QC Security
Quantum computing may pose risks to classical encryption methods. To prevent these significant risks, equip your organization with the knowledge of the security implications of quantum computing alongside the preparations for future threats. Also worth mentioning, ensure that your organization are using future-proof encryption methods. At this stage, we at PwC provide you with comprehensive advice on security aspects related to emerging quantum technology. As 66% of German respondents in our global Digital Trust Study view cybercrime as the greatest threat, it is crucial to be prepared for potential attacks involving quantum computing.
Investing in quantum computing at an early stage can result in a strong market positioning, allowing innovators and early quantum computing adopters gaining potentially unreachable competitive advantages. Moreover, pioneers in the field might attract rare top-tier talent, ensuring that the organization remains at the forefront of innovation.
3. Quantum Computing in practice: Our QC energy use case at the Digital X 2023
As global energy networks grow, so does the complexity of the infrastructure required to maintain them. The resulting problem is known as Redispatch 2.0
We presented our energy use case (Redispatch 2.0) at Digital X 2023, where current technological developments and megatrends - including, above all, Connected Business, Future of Work, Security and Sustainability & Responsibility - are put under the microscope. We were able to impress visitors at the the PwC booth with our Energy Use Case, which could be experienced up close through virtual reality (VR) glasses and left an unforgettable experience. Our solution is an AI-based quantum computing solution for energy grids. It provides real-time optimization of the power grid (allocation) while taking constraints into account, providing stability in the event of unexpected changes in supply and demand, e.g., due to disasters, weather changes, major events major events, etc. We estimate the importance of this topic to be very high and expect that in a few years our solution will be able to will solve the challenges of Redispatching 2.0 in real time, which will no longer be possible with today's computer technology.
Navigating the Quantum Computing era together
Want to get your quantum computing journey started? We at PwC are a passionate community of solvers that can help you to conquer your most complex challenges through the potential of quantum computing.
Check out our PwC Quantum Computing services and reach out to us to discuss how we can explore and leverage the potential of quantum computing for your business today and in the future.
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