IBM CEO Arvind Krishna, speaking on CNBC, outlined long-term forecasts for the development of quantum technologies. According to him, investments in this sector will begin to have a noticeable impact on the corporation's revenue and profits only in 2028 or 2029. However, the top executive estimates the potential economic impact of the technology by the end of the 2030s at $1 trillion in created value.
Demonstration of Quantum Advantage
On June 30, IBM, together with partners Qedma and Algorithmiq, presented research results that the company calls a demonstration of quantum advantage. Experts claim that their quantum computer is capable of solving certain computational tasks and verifying the obtained results more efficiently than leading classical systems.
Krishna noted that the IBM system helped reveal material behavior that researchers could not observe with conventional computing. He linked possible practical effects to the development of new batteries, the creation of advanced materials, solutions for fusion energy, and the creation of new drugs.
Technical Challenges and Scaling
Despite the optimism, the head of IBM admitted that the speed of technology commercialization remains debatable. The main obstacles are a high error rate, hardware complexity, and scaling issues. However, Krishna stated that the company already sees progress on the path to practical application.
In May, IBM announced plans to create a separate production facility for quantum chips. The project provides for $1 billion in support from the U.S. Department of Commerce under the CHIPS program and another $1 billion in investment from the company itself.
Market Reaction and Reporting
Krishna separately commented on the weak market reaction to IBM's recent reporting. According to CNBC, on July 14, the company's shares fell by 25% after the publication of quarterly results, and then rebounded by only 2%. At that time, IBM reported that some clients had postponed capital projects.
According to Krishna, the deals were not canceled but postponed, and about 40% of them have already been closed within three to four weeks. Earlier, in May, Petra Florisun, the global sales director of the IBM Quantum division, announced the beginning of the practical era of quantum computing.
