NewsDec 17 2020

The Promise of Quantum in New York

Quantum computing has the potential to be a major engine of economic growth in New York. As quantum technology moves out of academic labs and closer to adoption, this emerging sector is primed to bring significant benefits to the region.

An October 2020 report by Accenture Research shows that quantum computing is expected to produce $332 billion in GDP and create 95,000 jobs in New York over the next ten years. 97% of survey respondents said that quantum computing will provide benefits comparable to those they’ve experienced from artificial intelligence.

Maria Gotsch, President and CEO of the Partnership Fund for New York City, joined Marc Carrel-Billiard, Global Lead of Technology Innovation and Accenture Labs, to take a deeper dive into the report and the promise of quantum for New York. One takeaway from the discussion — the time to invest in quantum computing is now.

Major companies are already taking action to seize economic benefits from quantum. According to Accenture’s report, 34% of surveyed businesses are investing in quantum technology today. These early adopters are counting on the massive computing power of quantum to solve some of the biggest challenges facing the world’s largest sectors, including:

  • drug discovery in life sciences;
  • portfolio management and fraud detection in financial services; and
  • optimization of traffic flow in the automotive industry and more.

How can New York capitalize on quantum? Marc says there’s a lot the public sector can do to harness the full value of quantum technology. From tax incentives to specialized training and curriculums, building New York’s quantum computing ecosystem will attract new capital investment, businesses and jobs.

As New York takes steps to revive the local economy, investing in key sectors that can create jobs and drive revenue will be a top priority. To learn more about the future of quantum in New York, watch the full webinar below.