Summary
- IBM anticipates quantum computing to contribute to revenue and profit by 2028 or 2029, CEO Arvind Krishna stated.
- Companies including Alphabet, IonQ and Rigetti are racing to commercialize the technology.
- Bitcoin miners and the crypto industry are watching quantum’s infrastructure needs and long-term security implications.
Quantum computing may be approaching its biggest milestone yet: generating meaningful commercial revenue, as reported by IBM CEO Arvind Krishna, who stated the technology is close to becoming a business rather than simply a long-term research project.
Speaking on CNBC’s Mad Money on Thursday, Krishna stated he anticipates the sector to begin making a measurable contribution to IBM’s revenue and profit by 2028 or 2029.
“By the end of the 2030s, we are now pretty convinced this is a trillion dollars of value,” Krishna stated, describing what he sees as the long-term economic potential of quantum computing.
His comments come as competition intensifies among companies developing hardware and software that exploit the principles of quantum mechanics to solve mathematical problems in seconds that would take conventional computers thousands of years.
“A quantum computer can do things better, faster, cheaper, in a way that normal classical computers cannot do at this time,” Krishna stated.
IBM, Alphabet, IonQ, Rigetti Computing and several startups are racing to build machines capable of solving problems that remain impractical for today’s most powerful classical computers.
