Quantum Optimization for Business: 2024 Hyperion Research Survey Results
TLDRThe Hyperion Research Survey for 2024 reveals a significant interest in Quantum Computing for business optimization. With a 50% increase in production-level interest compared to two years prior, enterprises across major countries are exploring Quantum Computing applications in finance, supply chain, and manufacturing. The study underscores a pragmatic approach, focusing on existing business processes and the potential for performance improvements and revenue increase. Organizations anticipate a substantial ROI, with expectations of an annual return between $60 to $65 million for a $3 to $6 million investment. The survey also highlights the need for in-house expertise and the potential of combining Quantum Computing with AI for optimization efforts.
Takeaways
- 😀 Bob, the presenter, is an expert in advanced computing with a background in the US federal government, focusing on the analysis of both classical and quantum systems.
- 🔍 The Hyperion Research study, sponsored by D-Wave, aimed to explore the use of quantum computing in business process optimization, independent of any specific product line.
- 📈 The study found a wide range of quantum computing optimization activities in the commercial sector, with a significant increase in interest for production-level use within 12 to 18 months.
- 💹 Key areas of business optimization identified were finance, supply chain management, and manufacturing processes.
- 🏢 The survey included a mix of high-performance computing (HPC) and enterprise organizations, indicating broad interest across different sectors.
- 💡 Organizations are driven by the potential for performance improvements on key workloads, supported by both technical staff and senior management.
- 💼 There's a notable lack of enthusiasm for new quantum computing-based applications, with a focus on optimizing existing business processes.
- 💰 Organizations expect a substantial return on investment, with an annual commitment of $3 to 6 million expected to return approximately $60 to 65 million.
- 🌐 The study spanned six major countries, with a diverse range of industries represented, showing global interest in quantum computing for business optimization.
- 🔋 Quantum computing is seen as a solution for organizations with unmet computational requirements, offering potential performance and financial advantages.
Q & A
What is the main focus of the Hyperion Research Survey on Quantum Optimization for Business?
-The main focus of the survey is to explore the growing use of business process optimization using Quantum Computing, specifically targeting commercial end users who are exploring or planning to explore opportunities within the next 12 to 18 months.
Who is Bob and what is his role in the context of this survey?
-Bob is the Senior Vice President of Research and the Chief Analyst for Quantum Computing at Hyperion Research. He has expertise in analyzing advanced computing hardware and performance metrics for both classical and Quantum systems. In this context, he is leading the discussion and presenting the survey results.
What was the primary objective of conducting this study?
-The primary objective was to understand the status, variety, and span of business process optimization using Quantum Computing capabilities, with a focus on how organizations are considering or implementing Quantum Computing to optimize key business processes.
What were the major findings of the Hyperion Research Survey regarding the use of Quantum Computing in business?
-The major findings include a wide range of Quantum Computing optimization activities underway in the commercial sector, with a significant interest in production-level use of Quantum Computing to address important business processes. Finance, Supply Chain management, and Manufacturing were identified as key areas for optimization.
How did the respondents of the survey view the importance of Quantum Computing-based optimization for their business processes?
-A majority of the respondents, 71%, viewed Quantum Computing-based optimization as very important for their business processes, indicating a high level of interest and recognition of potential benefits.
What were the top business processes identified for Quantum Computing optimization?
-The top business processes identified for Quantum Computing optimization were Finance-oriented optimization, Supply Chain management, and Manufacturing Factory processes.
What were the main incentives for organizations to turn to Quantum Computing-based optimizations?
-The main incentives included enhancing business process efficiencies, increasing revenues, driving innovation, and improving research capabilities.
What was the expected return on investment for organizations that are planning to use Quantum Computing for business optimization?
-The expected return on investment was significant, with an annual return of about $60 to $65 million for a $3 to $6 million annual commitment to support Quantum Computing optimization activities.
How did the survey respondents plan to approach Quantum Computing optimization in terms of budget and resources?
-Survey respondents planned to move forward with one or more of their current Quantum Computing-based optimization projects, with an average of 3.7 different optimization options being considered at various stages of development.
What were the key challenges and opportunities identified by the survey in the context of Quantum Computing optimization?
-Key challenges included complexity with integrating Quantum Computing into existing workloads and a lack of in-house Quantum Computing expertise. Opportunities were seen in the potential for performance improvements on key workloads, driven by both technical staff and Senior Management.
Outlines
👨💼 Introduction to Bob and Quantum Computing Research
Bob, the senior vice president and chief analyst for Quantum Computing at Hyperion Research, introduces himself and his extensive background in advanced computing. He clarifies that a study conducted by his team, sponsored by d-wave, aimed to explore the use of Quantum Computing in business process optimization without bias towards d-wave's products. The study focused on the practical application of Quantum Computing in business processes rather than research and development, targeting organizations' capabilities to enhance revenue-generating products or services.
📈 Key Findings from the Quantum Computing Study
The study revealed a significant interest in Quantum Computing for business optimization, with a 50% increase in production-level interest compared to two years prior. Finance, supply chain management, and manufacturing were identified as top areas for optimization. Organizations are driven by potential performance improvements, supported by both technical staff and senior management. There's a pragmatic approach to adopting Quantum Computing, with a focus on immediate benefits rather than waiting for future technological advancements.
🌐 Global Survey Insights on Quantum Computing Adoption
The survey included responses from 303 organizations across six major countries, representing a wide range of industries. It showed that most organizations have some form of high-performance computing (HPC) capability and are considering Quantum Computing for optimization. The study also highlighted the average number of optimization projects organizations are exploring, which is about 3.7, indicating a broad exploration of Quantum Computing's potential in various business processes.
💼 Enterprise Interest in Quantum Computing Optimization
Enterprises showed high interest in Quantum Computing, with 71% of organizations considering it very important for business process optimization. The study also pointed out that the majority of organizations are either in the exploration or production phase of Quantum Computing optimization, indicating a serious commitment to integrating this technology into their business processes.
🔍 Detailed Analysis of Quantum Computing Optimization Targets
The study provided a detailed analysis of the most important business processes suitable for Quantum Computing optimization. It also examined the state of current optimization efforts, with a focus on quantum use case analysis and prioritization. The production use of Quantum Computing saw a significant increase, indicating a move towards practical application in business processes.
🚀 Accelerating Business Processes with Quantum Computing
Organizations are focusing on enhancing business processes and increasing revenues as key drivers for adopting Quantum Computing. The study emphasized the importance of having strong internal influence from technical staff and senior management to drive the integration of Quantum Computing into business processes.
💼 Budgetary Commitments and ROI Expectations
The study explored budgetary perspectives, with organizations expecting to commit between $3 to 6 million annually for Quantum Computing optimization. This investment is expected to yield a significant return on investment, with estimates ranging from $60 to $65 million annually. The study also highlighted the potential for Quantum Computing to address unmet computational requirements and deliver performance gains that traditional computing struggles to achieve.
🔗 Combining Quantum Computing with AI for Enhanced Optimization
The study touched on the potential of combining Quantum Computing with AI for optimization efforts. While the exact value and type of AI integration are still being explored, there is a clear interest in leveraging both technologies to address complex computational problems.
📈 Future Outlook for Quantum Computing in Enterprises
Looking forward, the study indicated that organizations plan to continue investing in Quantum Computing, with a measured pace and modest budgetary increases. The focus is on finding the right balance between cloud-based and on-premises Quantum Computing solutions, with an emphasis on ease of integration and expertise availability.
📚 Resources for Learning Quantum Computing
The presentation concluded with recommendations for resources to learn more about Quantum Computing, including books that can help demystify the technology and provide a business perspective on its application. The emphasis was on understanding Quantum Computing's role in the broader ecosystem and finding the right level of engagement with the technology.
Mindmap
Keywords
💡Quantum Computing
💡Hyperion Research
💡Business Process Optimization
💡HPC (High Performance Computing)
💡Quantum Advantage
💡Enterprise Shops
💡Supply Chain Management
💡Manufacturing Processes
💡Return on Investment (ROI)
💡Quantum Computing as a Service (QCaaS)
Highlights
Bob is a senior vice president at Hyperion Research with expertise in advanced computing hardware and quantum systems.
Hyperion Research conducted a study, funded by D-Wave, to explore business process optimization using quantum computing.
The study aimed to understand the challenges and opportunities in using quantum computing for business process optimization.
The study focused on businesses planning to explore quantum computing for optimizing key processes within 12 to 18 months.
60% of surveyed organizations were either mixed or primarily Enterprise shops, with 38% being HPC focused.
More than 50% of respondents plan to have production-level use of quantum computing within the next 12 to 18 months.
Finance-oriented optimization, supply chain management, and manufacturing processes are the leading areas under consideration.
Organizations are motivated by potential performance improvements on key workloads, supported by technical staff and senior management.
There is a lack of enthusiasm for new QC-based applications, with a focus on optimizing existing business processes.
The expected return on investment for a $3 to $6 million annual commitment is about $60 to $65 million annually.
290 companies surveyed represent an estimated total revenue increase of almost $52 billion annually.
Most organizations plan to move forward with one or more of their current quantum computing optimization projects.
Respondents are looking at an average of 3.7 different optimization options at various stages of development.
71% of organizations see quantum computing-based optimization as very important for their key business processes.
The study indicates a significant interest and commitment to quantum computing in business optimization across various sectors.
Organizations face hurdles such as complexity in integrating quantum computing into existing workloads and lack of in-house expertise.
There is a strong belief in the potential of quantum computing to address unmet computational requirements and drive business efficiency.
The study suggests a pragmatic approach to quantum computing adoption, focusing on realizable performance gains and financial returns.