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Quantum computing promises to disrupt entire industries because it leverages the rules of quantum physics to perform calculations in fundamentally new ways. Unlike traditional computers that process information in a linear, step-by-step fashion, quantum computers use quantum bits, or qubits, which can represent multiple states simultaneously. This leads to breakthroughs in areas such as drug discovery, financial modeling, and cybersecurity by overcoming computational barriers that have limited progress for decades. Quantum computing is transitioning from theoretical research to a transformative force for industries worldwide, much like AI and cloud computing before it. As Jensen Huang, CEO of Nvidia, humorously noted earlier this year, even a casual comment about quantum computingsuch as his suggestion that useful systems are still 15 to 30 years awaycan send ripples through industries, significantly impacting quantum computing stocks. But whether practical applications are one year or 15 years away, small steps taken now can have outsized impacts in the future. For forward-thinking business leaders, the time to prepare is now. Why Quantum Computing Matters to Every Business Leader Quantum computing is not just about speed, its a paradigm shift poised to redefine problem-solving, innovation, and competitive landscapes. It has the potential to tackle challenges classical computers cannot, such as optimizing supply chains, accelerating drug discovery, and revolutionizing cybersecurity. However, its implications extend beyond operational efficiencies. Early adopters will gain a significant edge, while those who delay risk falling behind. For example, consider the pharmaceutical industry. Traditional drug discovery processes rely on trial-and-error simulations that can take years. Quantum computing, with its ability to model molecular interactions at an unprecedented and native scale, promises to reduce this timeline from months to hours as compared to todays supercomputers. Similarly, in finance, quantum algorithms could enable more accurate risk assessments and portfolio optimizations, giving early adopters a significant advantage. However, these advancements come with risks. Quantum computing poses a direct threat to current data encryption methods, potentially rendering them obsolete. For industries reliant on secure communicationssuch as banking, healthcare, and defensethe stakes couldnt be higher. Preparing for this shift requires not only technical adjustments but also strategic foresight from leadership teams. A Generational Framework for Quantum Adoption To understand why preparation must begin now, its helpful to view quantum computing through a generational lens: Generation 1 (20232032): The Experimental PhaseWe are currently in the first generation of quantum computing, where the technology remains largely experimental. Companies like Google, IBM, and AWS have developed quantum systems capable of astonishing feats, such as Google’s Willow chip, which performed a computation in under five minutes that would take classical supercomputers ten septillion years. However, these breakthroughs are primarily proofs of concept, with limited commercial relevance. Generation 2 (20302038): The Practical PhaseBy the next decade, quantum computing will begin delivering practical, commercially viable solutions. Industries such as pharmaceuticals, logistics, and energy will see the first wave of disruption as quantum systems solve complex optimization and simulation problems. This phase will also bring more accessible tools, APIs, and interfaces, enabling broader adoption. Generation 3 (20352045): The Maturity PhaseIn Generation 3, quantum computing will reach maturity, with robust ecosystems and widespread integration into business processes. By this stage, companies that invested early in talent, infrastructure, and partnerships will have a significant competitive advantage. While Generation 2 may seem distant, the reality is that the groundwork for success must be laid during Generation 1. Waiting until quantum computing becomes plug-and-play will leave organizations scrambling to catch up. What Business Leaders Can Do Today Preparing for quantum computing isnt just a task for IT departmentsits a strategic imperative for the entire C-suite. Heres how business leaders can act now: 1. Educate Yourself and Your TeamsQuantum computing is complex, but understanding its basics is essential for informed decision-making. Encourage your leadership team to explore resources, attend conferences, and engage with experts. Consider hosting internal workshops to demystify the technology and spark cross-functional discussions about its potential impact. 2. Foster a Culture of ExperimentationMuch like the early days of AI, quantum computing requires a willingness to experiment. Platforms like IBM Quantum Experience and AWS Braket offer cloud-based access to quantum systems, allowing your teams to run small-scale experiments without significant upfront investment. Encourage innovation by allocating budget and resources for exploratory projects. 3. Build Strategic PartnershipsCollaborate with universities, research institutions, and quantum startups to stay ahead of the curve. Joining industry consortia focused on quantum technologies can provide valuable insights and shared resources. These partnerships can also help bridge the talent gap, which is one of the biggest barriers to quantum adoption. 4. Assess Cybersecurity RisksQuantum computing poses a unique challenge to cybersecurity. Current encryption methods could be broken by quantum algorithms within minutes. Begin transitioning to post-quantum cryptographic standards and conduct audits to identify vulnerabilities in your systems. Proactive measures taken today will safeguard your organization against future threats. 5. Develop a Long-Term Road MapTreat quantum computing as a strategic initiative rather than a passing trend. Create a road map that outlines milestones for experimentation, skill-building, and eventual integration into your business operations. This road map should align with your broader digital transformation goals. 6. Monitor Industry DevelopmentsThe quantum ecosystem is evolving rapidly, with advancements in hardware, software, and applications occurring almost monthly. Stay informed about breakthroughs and assess their relevance to your industry. Regular updates to your quantum strategy will ensure you remain agile and prepared. The Cost of Inaction The history of technological disruption is littered with examples of companies that failed to adapt. Blockbuster ignored streaming. Kodak dismissed digital photography. Dont let your organization become the next cautionary tale. Moreover, the risks arent limited to falling behind competitors. Governments and bad actors are already exploring quantum technologies for offensive purposes, particularly in cybersecurity. Organizations that fail to pepare for these shifts could find themselves vulnerable to both market and geopolitical disruptions. Business leaders who act now will position their organizations to thrive in the quantum era. Whether its fostering a culture of experimentation, securing critical data, or building strategic partnerships, the steps you take today will determine your readiness for tomorrow.
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E-Commerce
We know that people with ADHD often approach work differently than might a neurotypical person. And while ADHD can manifest in traits like impulsivity and being easily distracted, the condition is also associated with many desirable qualitiesincluding, it seems, incredible creativity. Thats the upshot of new research recently presented at the European College of Neuropsychopharmacology (ECNP) Congress in Amsterdam. Researchers conducted a pair of studies involving 750 participants, finding that those with ADHD may experience more frequent episodes of mind-wandering, and that that, in turn, could lead to greater creative thinking abilities. “Previous research pointed to mind-wandering as a possible factor linking ADHD and creativity, but until now no study has directly examined this connection,” one of the investigators, Han Fang, said in a statement. “We found that people with more ADHD traits, such as lack of attention, hyperactivity, or impulsivity scored higher on creative achievements in both studies,” Fang said. There are two different kinds of mind-wanderingspontaneous and deliberate. Those who deliberately allowed their minds to wander showcased greater creativity, Fang said. “This suggests that mind-wandering may be an underlying factor connecting ADHD and creativity,” he added. The many sides of ADHD The findings add to other evidence pointing to some of the more beneficial seeming traits of ADHD, including that certain ADHD traits like impulsivity or a tendency to hyperfocus can lead to greater creativity. For example, a 2021 study found that people with a common form of ADHD known as combined type ADHD were more creative than people with other forms of the condition. What those findings suggested was that higher degrees of ADHD symptoms were associated with greater creativity. Experts say the latest findings have the potential to help transform ADHD treatment, but more research is needed to confirm the results. “For treatment, ADHD-tailored mindfulness-based interventions that seek to decrease spontaneous mind-wandering or transform it into more deliberate forms may reduce functional impairments and enhance treatment outcomes,” Fang said.
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E-Commerce
After a number of big announcements this week, its hip to be Square. Square announced several upgrades and features to its platform this week, including an expansion of tools for restaurant owners and operators, new intelligence capabilities under its Square AI suite, and the unveiling of Square Bitcoin, allowing platform users to conduct transactions in Bitcoin. As a cherry on top, Cash App, a sister company to Square under its parent firm, Block, also announced Neighborhoods, a feature that connects customers with local businesses, creating local networks in which customers can place orders and accumulate rewards points to spend with nearby businesses, and helps those businesses create followings and marketing channels all within Cash App itself. Squares announcements, made by company leaders at an event in New York City on Wednesday, made one thing fairly clear: Square has its sights set on being much more than a two-dimensional point-of-sale vendor. It wants to provide small businesses with an entire suite of technology and tools that can help those small businesses compete with much larger companies with vast resources, especially in the food and beverage space. Squares focus on food and beverage Lindsey Irvine, Squares chief marketing officer, tells Fast Company that Squares focus on the food and beverage industry, particularly as it relates to these recent announcements, is founded in the fact that restaurantsbe they diners, coffee shops, or full-service sit-down steakhousesare the lifeblood of many communities. One thing we looked at from the data standpoint, and a unique differentiator for Square, is that were the only solution that operates in every type of business in a given neighborhood, she says. And if you dig in, restaurants have the most vibrancy. That is, restaurants tend to see more foot traffic and conduct more transactions than most other types of businesses. So, theres a lot of data to be analyzed, and a lot of potential problems for business owners to solve. Accordingly, We want to plant a flag and build a platform for restaurants. Restaurants, Irvine says, are also fairly complicated to run, so creating a platform with restaurants in mind could be adopted by other business types with relative ease, which also made it an easy place for Square to start when developing its new tools and features. While Square is rolling out several new tools, Irvine says she thinks that its Order Guide, a tool that leverages AI to help restaurant owners dig into their revenue and costs and look for alternative suppliers, among other things, is likely the most exciting. I think, on a practical level, the Order Guide and the potential cost savings are big, she says. This is what restaurant owners talk about every day: increasing prices. The only option they have to find savings is to go through their list, vendor by vendor. There was no solution, she adds. But weve done that for them. At the event on Wednesday, restaurant owners on-handwhich included Henry Laporte, the co-owner of the three-month-old French Dip restaurant Salt Hanks, and Jake Dell, the fifth-generation owner of Katzs Deli, a 137-year-old New York City institutionshared their enthusiasm about the new tools, including the Order Guide. That could be big for us, Laporte said on stage during a panel discussion about the new tools. The price of beef has gone up 25% over the past month, he added, saying that it would be big if tools like Order Guide could help him look for alternative suppliers. Squaring up to whats ahead Looking ahead, Irvine says that Square plans to hold more events like the one in New Yorkwhich was the second Releases event the company has ever held. She envisions there being two per year, one on each U.S. coast, and perhaps even international events. The goal, she says, is to make Squares presence felt nationwide, especially on a neighborhood level, where some of Squares competitors may feel more distant. When her team is on the ground, speaking with business owners, theres a wild amount of pent-up demand for some of the features that Square is rolling out, Irvine says. People trust us, our POS is their lifeblood, and at the end of the day, were finding ways to help them grow. Were showing up authentically. While that doesnt necessarily mean that every mom-and-pop sandwich shop is going to dive headfirst into the Bitcoin ecosystemand Square Bitcoin is designed for, and only for, Bitcoin transactions, not other types of cryptocurrencyhaving the option to accept it is not something they can get through other broad platforms. To finish off the event, Square CEO Jack Dorsey, as a part of a fireside chat with Randy Garutti, the former CEO of Shake Shack and current board member for Block, said that Block itself is, in a way, coming full-circle back to its roots as it renews its focus on helping small businesses generate on-the-ground insights and beef up their point-of-sale platforms. Squares announcements, he says, help position Square and Block as a go-to business partner for whats to come. We want to be a company thats 10 steps ahead of a customer’s expectation and desire, Dorsey said. I think were now, finally, getting back to that, which is how we started the company. But Dorsey reiterates that even Squares early plans and goals underwent big revisions as he and others learned more about what its customer actually needed, rather than what they wanted to create for them. That, again, has resulted in some of the new feature and tool rollouts. There was no grand vision early on, Dorsey said. You have to feel it. You have to discover. Theres no true invention, he added. Being able to adapt, Dorsey said, is whats given Square the ability to come as far as it has. Those are the things that really break the company’s potential open. Theyre unexpected, he said. Those unexpected things are what gives you lasting power.
Category:
E-Commerce
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