Get Ready for Quantum Age: The Implications of Quantum Technologies for Business Model Innovation

Abstract

Quantum technologies (QT) are nearing a phase of commercialization where technology adoption and business model design are becoming a major topic among practitioners and policymakers. This paper explores the potential impact of QT in transforming the way firms create and capture value. We identify the key properties of quantum mechanics and explain their potential in enabling new applications around computation, communication, and sensing. We propose that the application of QT has the potential to enable business model innovation by generating new market demand through novel customer value propositions, changing the structure of transaction costs, and enabling unique capabilities. This study aims to highlight the theoretical challenges and opportunities for management scholars and help organizations prepare for the quantum-enabled economy by analyzing the impact of QT on business models.