US insurance giant CEO to business leaders: Look beyond your AI obsession

At a time when tech leaders worldwide continue working to extract tangible value from artificial intelligence (AI), there is a group of forward-looking executives who are already setting their sights on the next frontier of technological disruption: quantum computing. Thomas J. Wilson, CEO and president of Allstate insurance powerhouse, is sounding an alarm for corporate peers: look past your current AI focus to start understanding and funding quantum research today.“Quantum will solve problems that traditional compute takes too long to do. And that AI can’t really do,” Wilson said, as per a report by The Wall Street Journal. He pointed out that quantum systems will unlock solutions to complex challenges that conventional computers take too long to resolve and that standard AI cannot properly handle. While exact rollout timelines and the precise scale of early competitive benefits remain uncertain, Wilson expressed firm conviction that early adopters will reap significant rewards.Within Allstate, an internal quantum unit of 10 specialists is actively expanding. The team is researching practical applications, such as analysing intricate risk variables and interdependencies to generate sharper, more accurate pricing structures that reflect true policy risk levels.Avoiding the hard lessons of generative AI boomWilson summarised his advice to corporate leadership in four words: “Get on the train”. Drawing parallels to the sudden surge of generative AI, Wilson cautioned that organisations delaying their quantum strategy will struggle to benefit once the tech matures.According to Wilson, the objective is building foundational organisational knowledge. Companies must engage with quantum advancements early so their underlying technology infrastructure is ready to plug into quantum systems when the time comes.“You can invest in quantum, but really the thing is, do you know enough about quantum? And are you engaged enough in the development of quantum so that you know how to build your current system so that it’s ready when quantum is ready?” he said.Get the latest technology news and updates. Download the TOI App.