The Banking Executive Magazine - February 2023 Issue

Quantum Computing INVESTMENT IN QUANTUM COMPUTING Quantum technologies is rapidly ad- vancing toward commercial viability. Big investment is made in this emerg- ing technology, and there is a rising number of quantum-computing start- ups. Major technology companies con- tinue to develop their quantum capa- bilities such as Alibaba, Amazon, IBM, Google, and Microsoft. For in- stance, Microsoft have already launched commercial quantum- computing cloud services. McKinskey research indicates that the value at stake for quantum-com- puting players is nearly $80 billion. Because quantum computing is still a young field, the majority of funding for basic research in the area still comes from public sources. the BANKING EXECUTIVE 10 ISSUE 170 FEBRUARY 2023 Investment in quantum computing from public funding sources (Source: McKinsey & Company Research Report on Quantum Computing)