Join Future Day
Join Future Day on the 17th of November
Join Future Day on the 17th of November
Quantum technologies are attracting growing interest across industries, from pharmaceuticals and energy to financial services and manufacturing. Researchers are exploring how quantum computing could help solve complex problems in chemistry and materials science, while advances in quantum sensing and cryptography are opening up other possibilities.
But the potential impact of quantum technologies looks very different depending on the industry. Some applications remain largely experimental, while others, particularly in cybersecurity, already call for practical preparation.
As we prepare for Future Day on 17 November, we’re exploring how organisations can make sense of these developments and identify what deserves their attention.
In this article, we look at where quantum technologies could make a difference for different industries, what is still uncertain and how companies can assess their relevance and opportunities to their own business.
Developing new medicines often involves understanding complex molecular interactions, a task that can be computationally demanding. Quantum computing could eventually offer new ways to simulate these systems and support research into drug development and chemical compounds.
The potential is significant, but so are the technical challenges. Researchers have yet to establish clear practical advantages over established computational methods for many proposed applications.
For pharmaceutical companies, the most interesting developments may therefore be those that demonstrate measurable improvements in molecular modelling, rather than advances in computing performance alone. Research partnerships and comparisons with existing methods can also offer clues about where the technology is heading.
In energy and materials research, some of the most promising possibilities involve understanding chemical reactions and designing new materials. Quantum computing could eventually contribute to the development of batteries, catalysts and industrial processes that are difficult to model using today’s methods.
Quantum sensing offers a different set of possibilities, including highly sensitive measurements that could prove useful in certain industrial environments.
Yet technological progress alone does not establish commercial value. For companies in these sectors, the important question is whether a new capability could address a specific R&D challenge or improve an existing process.
For financial institutions, quantum computing has attracted interest for its potential to improve certain optimisation and computational tasks. Whether these applications will provide practical advantages over conventional computing remains uncertain.
Cybersecurity presents a more immediate concern. Powerful future quantum computers could undermine some of the encryption methods widely used today.
In 2024, the US National Institute of Standards and Technology (NIST) published its first three post-quantum cryptography standards to help organisations prepare for this threat.
For businesses handling sensitive information, this creates a reason to review existing cryptographic systems and consider how to transition towards quantum-resistant methods. Unlike many proposed computing applications, this is an area where preparation does not need to wait for quantum computers to become commercially useful.
Not every advance in quantum research will have the same relevance for businesses. A breakthrough in hardware may attract considerable attention without bringing a particular industrial application much closer to commercial use.
So how can organisations distinguish developments worth following from those that are still too early to affect their business?
Start with the problem, not the technology. A new quantum algorithm or improved processor becomes commercially interesting when it offers a credible way to address a real challenge. Evidence from practical demonstrations, independent evaluations and comparisons with conventional methods is more useful than technical progress reported in isolation.
Look at the wider ecosystem. Progress also depends on software, infrastructure, specialised components and the availability of expertise. Partnerships between technology developers, research institutions and industrial companies can reveal which applications are being investigated and where practical barriers remain.
Consider when action might be needed. For some organisations, following research developments and exploring potential applications may be sufficient for now. Others may have reasons to begin preparing sooner, particularly where cybersecurity or long-term technology investments are concerned.
Quantum technologies are unlikely to develop at the same pace across every application or industry. Some capabilities may become commercially relevant sooner than expected, while others could remain experimental for years.
This makes it difficult to rely on a single forecast of when quantum technology will become important. A more useful approach is to build an understanding of the developments that matter to a particular industry and revisit that assessment as new evidence becomes available.
At Catapult, we help organisations understand emerging technologies by bringing together research, data, external signals and in-depth analysis. With quantum technologies, this means looking beyond individual breakthroughs to understand how technological progress, industry activity and competitive developments relate to a company’s strategic priorities.
Companies do not need to predict exactly when quantum computing will become commercially viable to start paying attention. They do, however, need to understand which developments could affect their industry, what remains uncertain and when new evidence might justify a closer look.
We’ll be exploring more of these questions at Future Day on 17 November, during our Future of Insights roundtables. Together with corporate leaders and decision makers, we’ll discuss how AI is changing research, what makes insights reliable and how organisations can use new technologies to support better strategic decisions.
Would you like to be part of the conversation?
Register for Future Day: https://luma.com/mosckz9m
Reach out to us to learn how Catapult could help your organisation.
The collection of researches in various industries and verticals is crafted by our in-house business thinkers, data analysts and growth hackers.
