Curious how quantum could be used in your business? Here’s what the experts say
The Quantum in Business summit kicked off in Chattanooga on Thursday, focused on helping area business leaders "dream big" about how to incorporate quantum technologies into their business operations.
Business leaders from across Tennessee and the region converged on Chattanooga Thursday for EPB’s inaugural Quantum in Business Summit. They came looking for a straight answer to one question: What can quantum do for my company?
The summit shared the day with GovCon, hosted by the Tennessee Department of Economic and Community Development (TNECD). Plenty of attendees moved between the two.
Governor Bill Lee’s fiscal 2027 budget includes $43 million to advance quantum in Tennessee. And on Sept. 18, EPB launched its IonQ Forte Enterprise quantum computer, making Chattanooga what the utility calls the nation’s first commercial quantum computing and networking hub.
Other research and innovation organizations across the state have moved fast on quantum (see our roundup). The broader business community has had a steeper learning curve.
Nearly every speaker made the same point from a different angle: quantum is a tool for specific problems, and the job for business leaders right now is figuring out which of their problems qualify.
1. Quantum won’t replace all computers
Shaun Gleason, director of partnerships at Oak Ridge National Laboratory (ORNL), has spent this year on a state and national tour talking about how quantum will change the world. He recently spoke at 3686 in Nashville, followed by 865 Fest in Knoxville, and now Quantum in Business Summit in Chattanooga, all within a couple of weeks’ time.
Gleason said ORNL is focused on quantum for materials discovery, encryption, cybersecurity, and energy resilience. But he said business use cases could look completely different, since quantum computers are designed to solve specific problems.
“Quantum computing is not going to take over all computers. They will help solve a specific subset of problems,” Gleason said. “As a business leader, you need to be thinking: where will classical computing continue to be important? In the future, your business will be using both.”
2. Some industries will see undeniable benefits
Financial services, cybersecurity, healthcare, insurance, chemicals, logistics and automotive/manufacturing are ripe for quantum-driven efficiencies, said Colin Seltzer of Deloitte, during a morning session. Seltzer comes from a business background rather than an academic one.
“When you think about how you will do complex problems in the future… There will be large amounts of data coming in, needing pre-processing,” Seltzer explained. “Quantum helps you find the needle in the haystack of data. With so much going on, it can help companies discern patterns and make better decisions.”
3. Security can’t wait
As Gleason mentioned, not every problem is a fit for a quantum computer. Security is one where Seltzer sees a clear case.
The concern is that bad actors could eventually use quantum computers to break encryption that would take today’s hackers far longer to crack. Financial institutions, hospitals, governments, and companies holding private client data are likely early targets.
Seltzer posed a scenario – “If 20 big banks upgrade to the latest NIST cryptography standards and yours doesn’t, will clients still trust you with their transactions?”
That question made many business owners stop and think.
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