IBM Sees Quantum Computing Revolutionizing Businesses by 2029

IBM CEO Arvind Krishna says quantum computing will revolutionize businesses by 2029. He predicts that this technology could unlock $1 trillion in value by the late 2030s.

Krishna highlighted various areas where quantum computing is making waves, including advanced materials, batteries, fusion energy, and smarter medicines.

IBM has made significant progress in the field despite facing challenges with hardware and error rates. The company has invested $2 billion in a quantum chip foundry, which was backed by a $1 billion investment from the US Commerce Department and matching funds from IBM this May.

Krishna also clarified that recent deal delays for IBM were simply deferrals, not cancellations, with about 40% of those deals having already closed within weeks. This shows strong demand for IBM's technology.