IBM: Quantum Could Potentially Offer ‘Hundreds of Billions of Dollars’ in Value for Customers

IBM quantum
IBM tells analysts there’s big future for quantum and other deep tech innovations. (Image: IBM Research/Flickr)

In the Q4 IBM earnings call, available on Motley Fool, the company’s Chairman and Chief Executive Officer, Arvind Krishna, specifically called out the potential value of quantum technology for its customers.

“Quantum has the potential to unlock hundreds of billions of dollars of value for our clients by the end of the decade,” said Krishna.

He told analysts that the company is working toward providing their customers with leading edge quantum technology.

“To seize this opportunity, we have a road map to build 1,000-plus qubit quantum computer by 2023, and we have expanded our suite of quantum computers on which our clients are working today,” he said.

Quantum is not the only deep-tech platform that IBM is pursuing. The company’s officials also discussed their leadership in artificial intelligence and hybrid cloud technologies, all of which the company forecasts to be multiple-billion dollar, if not trillion dollar markets.

In fact, we see the hybrid cloud opportunity at $1 trillion, with less than 25% of workloads having moved to the cloud so far.” said Krishna. “Our approach is platform centric. Linux, along with containers and Kubernetes, provides the foundation of our hybrid cloud platform.”

Krishna added that IBM’s platform-centric strategy is a potentially revolutionary way to do business. He said the company’s operating model will be “quietly but substantially reshaped.”

For IBM, the focus on quantum and other deep tech innovations isn’t just the pursuit of technology for technology’s sake, but the belief that these advances will offer real-world help and solutions for clients and customers.

“These decisive moves are all aimed at creating value through greater focus on our portfolio, our operating model, and the needs of our clients,” Krishna told analysts. “And as they take hold, they will help us to deliver sustainable, mid-single-digit revenue growth post separation.”

Matt Swayne
Matt Swayne
Matt Swayne is a contributor at The Quantum Insider. He focuses on breaking news about quantum discoveries and quantum computing.

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