Spending on quantum computing will surge from $260 million in 2020 to $9.1 billion by 2030, said Tractica, a market intelligence firm, in a report released during Investopia summit.

According to the report, quantum computing technology is advancing rapidly, and is on track to enable solving more complex business problems through enhanced optimisation, machine learning and simulation, reported Emirates News Agency WAM.

This is bringing transformation potential to multiple industries, making it possible to discover new remedies in life sciences, improve wealth management scenarios in financial services, reroute supply chains in real time and more.

In order to solve real-world business problems at scale, the management of quantum computing must shift toward information technology (IT) services that are integrated into the enterprise infrastructure.

Ideally, this business-centric, IT-driven approach will use a modern consumption model that is abstracted from the underlying hardware and fully integrates with enterprise services and data sources.

Designating quantum leads from both the business and IT departments, and extending the availability of quantum methods across the organisation, will encourage engagement, increase understanding and create more opportunities for innovative sparks.

In the future, this approach could also use quantum architecture stacks that automatically select the most appropriate computing power to solve a given problem. Taking this top-down and industrialised approach to quantum computing is the pathway to innovating at speed and scale.

Ninety percent of organisations will partner with consulting companies or full-stack providers to accelerate quantum computing innovation through 2023, according to Gartner.

The first Investopia investment summit, held during WGS2022 last week, convened decision-makers, private sector leaders, social institutions, and investment companies from all around the world to explore new economic models for the post-pandemic era.