Organisations are investing in artificial intelligence (AI) strategies, frameworks and applications to improve operations, but there is a new technology being led by researchers and global businesses to gain an advantage in the new economy: quantum. Others should consider building quantum strategies and frameworks into their businesses so they do not fall behind in this newly forming quantum economy. Over the past few years, many Australian businesses have been focussing on bolstering their use of AI, with organisations spending $24.4 billion in 2023-24 on R&D, mostly in computer science which includes AI, an increase of 18 per cent. Organisations are using AI to help increase productivity by streamlining workflows, with 35 per cent of Australian business prioritising AI-driven productivity gains Yet, there is another form of new technology making developments in the background which has the potential to bring more computing power with it, creating both threats and opportunities. This is quantum technology. Quantum: An emerging opportunity There are niche but highly valuable applications of quantum technology across a broad range of fields. The main one is quantum computing, although it is not yet commercially scalable, as significant innovation, development and engineering are still required beyond the capabilities of current machines. However, there are some nearer term applications in key areas such as sensing and communication. Quantum computing is set to be able to solve problems that classical computing cannot. Particular examples include rapid and highly effective drug development, new materials development, and complicated logistics optimisation. This is achieved through controlling and reading out chips that contain many millions of qubits, a qubit is a quantum bit of information. Current computers use bits of information, 0 and 1, in sequential order, but qubits run bits of information concurrently. This means that quantum computers could process data to solve more complex