Adoption of Quantum Technologies and Business Model Innovation
Productivity is the engine that drives economic growth. The UK and other major economies have experienced a significant slowdown in economic growth despite the prevalence of digital technologies. A significant number of research studies have attempted to better understand this “productivity puzzle”. However, many of these studies have tended to focus on past technological adoption or current challenges in firms adopting digital technologies to improve performance. One of the major areas where we lack understanding is how firms and policymakers need to prepare to adopt technologies that are emerging from research in science and engineering but which are only likely to be adopted in the future. We believe that quantum technologies are suitable for such a study.
Quantum technologies promise major benefits to society but have yet to be fully ready for commercial deployment. This study aims to better understand the enablers and barriers of business model innovation in order to accelerate quantum technology adoption. We hope our findings and recommendations will help to develop the framework needed to ensure that we get the timely benefits of quantum technologies through productivity improvement and economic growth.
Authors: Chander Velu, Fathiro Putra, Evert Geurtsen, Keith Norman, Christopher Noble