AI could accelerate quantum computing breakthrough, Bank of America strategist says

Bank of America strategist Haim Israel said AI is helping overcome technical challenges in quantum computing, potentially accelerating breakthroughs. The bank estimates the quantum computing industry could grow to $15 billion by the end of the decade and $80 billion by 2035. Israel said the sector is approaching its "ChatGPT moment."

Bank of America senior global strategist Haim Israel said artificial intelligence could accelerate breakthroughs in quantum computing, potentially transforming industries from healthcare to finance. Israel, who heads the bank's global thematic research team, said AI has helped researchers overcome longstanding technical challenges in quantum computing over the past two to three years, while quantum technology could eventually address processing limitations holding back AI development. The bank estimates the quantum computing industry, which has already surpassed $1 billion in annual revenue, could grow to approximately $15 billion by the end of the decade and $80 billion by 2035. Israel said the timeline for Q-Day, when quantum computers could break widely used encryption, has been brought forward to 2030. He noted that AI is helping improve control over quantum systems and reduce error rates, marking progress toward more reliable machines. Israel compared the current stage to the period before ChatGPT brought generative AI to mainstream attention, saying the industry is "before the ChatGPT moment of quantum." He said quantum computing is likely to remain concentrated in a small number of specialized systems rather than becoming widely distributed like AI. Potential applications include healthcare, financial services, chemicals, energy, and logistics. Israel noted there is little regulation or government intervention in the technology's development, comparing the issue to nuclear energy. The article relies on a single source without independent expert perspectives.