Boston Consulting Group (BCG) Joins the Quantum Innovation Summit 2024 as Knowledge Partner

Dubai, UAE- The Quantum Innovation Summit of 2024 designated the Boston Consulting Group (BCG) as its knowledge partner. BCG, a renowned strategic consulting firm, shared its expertise during the summit, focusing on its involvement in the quantum technology sector and quantum investment and highlighting GCC initiatives in propelling this technology forward. As a Knowledge Partner, BCG demonstrated its commitment to promoting innovation and cultivating a culture of cooperation and diversity in the global quantum technology community.

Anticipating the Quantum Leap

Despite experiencing a 50% decrease in global venture capital funding from roughly $2 billion in 2022 to about $1 billion in 2023, the quantum technology sector remains cautiously optimistic. This is due to a projected increase in governmental investments, with over 20 governments worldwide having developed formal policies to advance quantum technology, committing over $40 billion for the upcoming decade. Notably, the UAE and KSA have emerged with promising initiatives in the quantum market, indicating strong progress in the field. The region is trying to establish a quantum-ready infrastructure, demonstrating its commitment to adopting quantum technology and a significant presence in this advancing field.

Quantum Innovation Meets Economic Evolution: A Highlight Panel Discussion

The summit at The H Hotel – Al Massa Ballroom, Dubai, on February 28th and 29th, 2024, featured several discussions, including a panel on “Quantum Innovation Meets Economic Evolution.” This session examined the impact of quantum technologies on economic landscapes, deep tech ecosystems, and business models, discussing strategies for innovation, sustainable growth, and policy development in a quantum-empowered future.

“The rapid advancement of quantum computing on a global scale is set to revolutionize the traditional approaches to scientific and industrial development.” Faisal Hamady, Managing Director and Partner at Boston Consulting Group says, “This evolution promises a fundamentally different digital transformation across societies, organizations, and financial markets. Our goal is to delve deeper into the impact of quantum technology and identify the sectors that are ready for change. We emphasize the importance of collaborative efforts between research, industry, and policy to drive quantum innovation forward. The Quantum Innovation Summit 2024 is a crucial forum for discussing how to implement these technologies for global progress effectively. This interest extends beyond commercial research and development and includes universities, scientific communities, research labs, and notably, nation-states, all keenly focused on the practical applications of quantum technologies.”

An Unprecedented Gathering

The Quantum Innovation Summit 2024 invited participation from industry leaders, scholars, and technology enthusiasts. This event, inspired by BCG’s strategic insights, facilitated discussions on the future of quantum innovation, contributing to industry and societal advancement.

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About Boston Consulting Group 

Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.

Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.

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