The Quantum Talent of Tomorrow: What does The Future Hold?

As quantum computing technology continues to advance, it's clear that it has the potential to revolutionize a wide range of industries and solve some of the most complex real-world problems. But as the industry gains traction, it’s facing a more mundane problem which is attracting, retaining, and nurturing the right talents.

Despite substantial investment from both government and business in quantum technology, totalling $35.5 billion globally for quantum computing alone, the industry is still in its very beginning phases. Consequently, there is a shortage of experienced professionals who can fully understand and utilize the technology, resulting in a tremendous challenge for organisations seeking to recruit and retain talent in the field in order to continue to invest in research, development, and advancement of quantum technologies.

In relation to this, with creating a supportive and engaged community comes diversity, which has been lacking in the quantum computing field for some time. Recruiting more women into education programs focused on QC is one action plan that has the potential to create a more diverse field. This can be done via targeted recruitment and outreach efforts as well as providing mentorship and networking opportunities.

So, now, this begs the question, how can the industry overcome these challenges and attract and retain the right talent? Below, we’ll explore the existing talent gap, possible solutions, and the future of quantum technology.

QC Growth in APAC, Global Skills Shortage Post-Pandemic, and Talent Gap in Quantum Field

The race to develop quantum computing technology is picking up speed, and Asia is no exception. According to a report by The Quantum Insider, countries such as China, Japan, and South Korea are leading the way in terms of government funding and research in quantum computing. These countries are investing billions of dollars in the technology, recognizing the potential it has to revolutionize industries and solve complex real-world problems. For example, Singapore is setting the pace for quantum computing in Southeast Asia, with the government investing heavily in the field.

Just as one example, China has already invested over $1 billion in quantum technology and has plans to invest up to $15 billion in the future. Singapore has a National Quantum Technology Consortium, bringing together government, industry, and academia to drive collaboration and innovation in the field. Japan and South Korea are also investing in quantum computing, while Australia has a National Quantum Strategy, which aims to position the country as a world leader in quantum technology.

But, as the technology continues to gain traction in APAC, the industry is facing the major challenge of lacking manpower globally. With quantum computing expanding at a rapid rate in the region, quantum engineers are now being highly sought after by companies looking to leverage the technology. This is making it increasingly difficult for companies to keep hold of the right talent. In order to successfully retain valuable team members, companies are taking advantage of strategies such as competitive salaries and benefits, providing ample opportunities for advancement, encouraging collaboration, and offering a diverse and inclusive work environment, which aids in recognizing the unique perspectives and experiences of all employees. Ultimately, in order to keep up with any rapidly evolving field, companies will need to be prepared to pivot and adapt their retention strategies when necessary.

Factors That Contribute to a Talent Shortage in QC

Arguably, the most notable issue in QC currently is the shortage of digital talent. This is becoming a major concern for those in the field currently. Now, the explosion of remote work, it has made it even more difficult to fill open positions. The skills shortage is also increased by the fact that many current jobs in the field are exceedingly technical and require a deep understanding of quantum physics and computer science.

One potential solution to this problem is the increasing number of start-ups being founded by university researchers. With a peak in 2022, these start-ups have the potential to bring new and innovative ideas to the market, as well as provide new job opportunities for up-and-coming talent. Plus, with the expansion of the field to include diverse profiles such as marketing and sales, start-ups founded by researchers can provide opportunities for individuals with previous work experience in similar fields. According to a report from LinkedIn, there has been a surge in the number of quantum computing startups, with more than 200 founded in the last year alone. We can witness the success of QC startups stemming from the university realm by observing QuantumCTEK, which is the product of a quantum physics research group at the Hefei National Laboratory for Physical Science (HFNL) and the University of Science and Technology of China (USTC). Specifically, they design and manufacture advanced communication systems for a variety of industries, particularly government and financial operations. This is just one instance of many that have been successful in the transition from university research to a successful company.

However, there are still quite a few challenges that need to be addressed to fully meet the demand for digital talent in QC. One of which is the changing nature of jobs in the field. In the past, most jobs were highly technical in nature, but in recent years, more diverse profiles, such as marketing and sales, have begun to appear. This requires people with prior work experience in the world of business or engineering, making it even more difficult to find qualified candidates in an already scarce talent pool.

With the explosion of jobs in this realm in the next twenty years, it's important to try to ensure that there is a sufficient talent with the right skills to fill the gap. This means investing in strong education and training programs that provide individuals with the necessary skills and knowledge to succeed in the evolving industry. It also means creating a culture of innovation and collaboration that encourages open communication and cooperation, making it more attractive for talent to join and stay in the field.

In a nutshell, the shortage of digital talent in Asia, particularly in the field of quantum computing, is a major concern that needs to be addressed. Investing in education and training programs, creating a culture of innovation and collaboration, and providing mentorship and apprenticeship opportunities are some of the ways that companies and organizations in the field can overcome this challenge and continue to develop and advance the technology. With the explosion of jobs predicted in this realm in the next twenty to thirty years, it's more crucial than ever to have the right talent to unlock the full potential. On the bright side, the surge of quantum computing startups is a good sign that the industry is growing.

The Future of Quantum Workforce

The shortage of digital talent in the field of quantum computing highlights the imperative need for education, development, and training in this field. To meet the demand for quantum computing professionals, education programs that focus on quantum engineering will need to be designed and made widely available. This will need to include traditional universities as well as vocational schools, apprenticeship programs, and other valuable training opportunities.

Collaboration between the QC industry and education as a whole is also an important strategy for boosting the development of quantum communication and computing technologies. For example, the National University of Singapore and Amazon Web Services have recently announced a collaboration to explore potential real-world applications of quantum capabilities and boost the development of these technologies. These kinds of collaborations can provide opportunities for students and researchers to gain hands-on experience and build the skills they need to succeed in the field in the future.

Aside from this, the industry needs to recognize the need for interdisciplinary education. Quantum computing is not just about physics and computer science, but also has implications for areas such as finance, logistics, and healthcare. To fully cover the potential of quantum computing, professionals will need to have a broad understanding of the field and its potential applications.

Some have said that India could be a major source of quantum talent in the future. According to a report by TechWire Asia, the country has a large pool of engineering graduates, as well as a growing number of research institutions and start-ups working on quantum computing. However, the report also highlights the need for more education and training programs in the field, as well as more opportunities for hands-on experience and collaboration.

Another important strategy is to learn from the experiences of other emerging technologies, such as artificial intelligence, in addressing the talent gap. An example of this is that the AI industry has faced similar challenges in terms of the shortage of talent, and lessons can be learned from the strategies that have been used to address this issue.

An interesting case study that can be looked at is Australia's strategy for the quantum future. The government has announced a policy recommendation to lure Australian talent back home and attract foreign talent to work in the field. This includes investing in education and training programs, as well as providing incentives for companies to invest in the field and for professionals to work in the country.

The Takeaway

The field of quantum computing is advancing at a rapid pace, but the industry is facing a worrisome shortage of talent. To overcome this hardship, the industry needs to consider investing in education and training programs, creating a culture of innovation and collaboration, and leveraging the lessons learned from past technologies. Additionally, the Asia-Pacific region is becoming a major player in the field, with billions of dollars invested and even more to come, but the industry is also facing a shortage of manpower in the region. Interdisciplinary education and training and taking notes from the case study of Australia's strategy for the Quantum future, which includes recommendations such as luring back Australian talent and attracting foreign talent, could be used as a model for other countries. Despite the challenges QC is facing, we anticipate that this rapidly evolving field will continue to explode in the coming years, attracting students and professionals across the globe.

Ready to take part in the future of technology? Mark your calendar for QuantumTech Asia 2023. This event will be bringing together industry leaders, researchers, and professionals to share insights, collaborate, and explore the latest developments in quantum computing.

Don't miss this opportunity to network with top companies and organizations, hear from experts in the field, and learn about the latest trends and technologies. Plus, with the high demand for professionals in the field of quantum computing, this event is the perfect opportunity to gain the skills and knowledge you need to excel in this exciting and rapidly growing industry.

Register now for QuantumTech Asia 2023 and be a part of shaping the future of technology. Grab your tickets online at https://quantumtechapac.wbresearch.com/agenda-mc