Emerging Technologies

Quantum computers continue to evolve and, in some cases, their advancement is occurring more rapidly than anticipated.  As my PMI webinar (link below) suggested, progressive researchers and organizations have begun to forecast the implications of the unique processing capabilities quantum computers will likely have.  One of the more concerning implications of the commercial availability of a quantum computer of an appropriate size is its ability to break current levels of encryption.  Some have forecast that a quantum computer of this size will be available in the not so distant future – a few years, not decades.

Back in 2016 the National Institute of Standards and Technology (NIST) announced its ‘Effort to Defend Encrypted Data from Quantum Computer Threat.’  In 2019 they announced new efforts given the current perspective for advancing quantum computing capabilities.  This is a really big issue; however, currently, there is a viable solution to this pending problem – it’s called quantum encryption (QE) and it is at the very early stages of commercialization.  QE is the science and technology that applies the rules of quantum mechanics to perform encryption. Fior Markets projects the global quantum encryption market is expected to grow from $107 million in 2017 to nearly $760 million by 2025.  That is nearly a 40% compound annual growth rate (CAGR) forecast in those early stages of QE’s evolution.  In addition, it clearly shows the recognized need to address this problem and to do it now!

The continued digitalization of our information assets and systems is driving cybercrime and the theft of data. According to a report by Cybersecurity Ventures, cybercrime is projected to cost the world more than $6 trillion annually by 2021. Quantum encryption goes a long way to help mitigate the risks and reduce the financial losses associated with the theft of our data and digital assets.  Based on current information from a defense organization coupled with projections from technology leaders, quantum computers will likely be capable of beginning to break current levels of encryption by 2024.  Efforts need to be made to protect our data, both stored and while being digitally transmitted (including over 5G), from this pending threat.  Given the close proximity of the 2024 date and the fact that the planning, analysis and execution of a quantum encryption replacement project will likely take 12 to 18 months for the mid-sized companies, organizations would be well advised to begin now.

Project Management Quantum Technology (a bit dated) Webinar:  https://www.projectmanagement.com/videos/573047/Preparing-Project-Managers-for-Quantum-Technology-Projects

Now this is quite interesting. No wonder this quantum technology course is popular. Quantum Computing - The business application side. "Quantum computing will be the smartphone of the 2020s, says Bank of America strategist"

https://www.marketwatch.com/story/quantum-computing-will-be-the-smartphone-of-the-2020s-says-bank-of-america-strategist-2019-12-12?fbclid=IwAR3wEVmfkbdjT9af9NmU2-o178wgHZhk35gIAsCYO1N1zIWuSmeS1uOCrdc 

Quantum technology is a very interesting subject.  Some say quantum is another technology revolution while others believe it is the umbrella industry with quantum computing being the largest segment.  Last year, Cision PR News Wire published a piece that estimated the quantum technology global market would grow to $13 billion by 2023.  Up from less than under $.5 billion a bit ago. At this point, quantum technology includes Computing, Communications, Imaging, Security, Sensing, Modeling and Simulation.  Since that analysis was done, quantum cryptology and quantum dots have evolved as has quantum metrology with more to come like quantum Internet. Given the current funding and research, these segments are likely to aggressively advance and more are likely to join in the not-so-distant future. 

Quantum technology (QT) like many emerging technologies, has left many falling behind who fail to invest a little time to gain a high-level understanding of what it is about, and a bit of time to assess its potential impact on their business model/operations. Instead, they either discount it or force fit it into their mental model(s) so not to disrupt their current efforts. This is clearly a part of resistance to change and will likely lead to the demise of the organization.

Analysis has begun to estimate the potential business value of multiple components under the umbrella of quantum technology.  The likelihood project managers will be faced with a quantum project in the near-future continues to get greater. Perhaps it is time to consider the PMI continuing education program on Quantum Technology - https://www.projectmanagement.com/videos/573047/Preparing-Project-Managers-for-Quantum-Technology-Projects

INSIGHT: Neil Turok, a South African Physicist said, “Quantum physics is one of the hardest things to understand intuitively, because essentially the whole point is that our classical picture is wrong.”

Ops!  You have to hate when that happens

Amazon just made a big announcement! They announced their "AWS Announces New Quantum Computing Service (Amazon Braket) along with AWS Center for Quantum Computing and AWS Quantum Solutions Lab"

https://www.businesswire.com/news/home/20191202005783/en/AWS-Announces-New-Quantum-Computing-Service-Amazon

The White House just announced several advisors on science and technology. It is important to pay close attention to the subject matter expertise of these advisors.  Interestingly enough, many of there expertise is covered here on this blog!

In addition, this is an important development when it comes to Quantum Computing and more common topics on this blog.  October 28, 2019 the White House announcement is said to signal a "Quantum Leap." Equally interesting is the calls out cryptocurrencies and blockchain as well as other technology subjects.

Check out the YouTube video at the link below. 

Link - https://www.youtube.com/watch?v=V1rW-6wXHGk