Quantum computing has become a term that many of us are familiar with despite being unaware of what it means for a rapidly growing technological landscape or why it’s important. 

In a nutshell, quantum computing has the power to take processing beyond their binary bit-based frameworks that rely on the use of 0 or 1. Instead, it uses ‘qubits’ to deliver parallel processing and generate a near-infinite number of outcomes for a single input. 

While quantum computing is nothing new, the recent generative artificial intelligence (AI) boom has helped to grow its relevance as a major tool to supercharge the potential of AI. Scientists generally agree that quantum computing will be a key ingredient in the recipe for general artificial intelligence (GAI), which will have the potential to equal or surpass human intelligence. 

As the generative AI boom continues to gather momentum, quantum computing has the power to improve the industry by increasing the speed, efficiency and accuracy of existing AI models. These innovations are a key factor in the industry’s forecasted growth at a compound annual growth rate (CAGR) of 35.2% between 2022 and 2030. 

Today, industries surrounding semiconductors, electric vehicles (EVs), maritime logistics, luminescence and power are already key beneficiaries of the growth of quantum computing. This list will likely expand considerably as the technology continues its emergence and reaches new heights.  

Given the industry’s rapid growth forecast throughout the decade, its most innovative stocks will be a money-spinning opportunity for investors seeking to recapture the spirit of the recent generative AI boom in a fresh sector. 

Intel (INTC)

While Intel (NASDAQ:INTC) was a stock that posted relatively modest growth in 2023 in the wake of a blistering semiconductor market rally buoyed by the generative AI boom, it appears that the tech giant has its focus on something altogether far bigger. 

Intel’s weaker levels of exposure to growth markets like graphics processing units (GPUs) for AI have meant that it’s in a position of great potential as the firm’s quantum computing chip initiative, known as Tunnel Falls, kicks into gear. 

In the form of a silicon chip, Tunnel Falls is the result of Intel’s most advanced manufacturing processes and is now available for research communities to work with. The initiative results from several partnerships with government and university research departments throughout the testing process.  

Intel’s fundamentals could also indicate an upcoming turnaround in fortunes. The first three quarters of 2023 saw the chipmaker’s revenues decline at a rate of 21% to $39 billion. However, this decline slows to 8% when exploring Q3 2023 only. 

Additionally, Intel’s $980 million in losses over the first three quarters of 2023 are mitigated by a net income of $297 million in Q3, indicating that we could be seeing the early stages of a recovery. As a result, the timing of Intel’s Tunnel Falls initiative into quantum computing could be the key to posting seismic market growth in the future.

Honeywell (HON)

Honeywell (NASDAQ:HON) is a renowned player in the world of quantum computing, and the Honeywell Quantum Solutions arm of the firm has utilized trapped-ion technology to build some of the industry’s most advanced quantum computers. 

What makes Honeywell interesting to investors is that it’s been readily embracing mergers and acquisitions to facilitate growth. In late 2023, Honeywell acquired Carrier’s Global Access Solutions business for $5 billion in a bid to strengthen its automation credentials. 

Honeywell has long remained a hedge-fund favorite and has plenty of strong evidence of growth. In September, the company declared a quarterly dividend of $1.08 per share, representing a 4.9% increase on its prior dividend of $1.03 for shareholders. 

D-Wave Quantum (QBTS)

Canadian firm D-Wave Quantum (NYSE:QBTS) professes to be the first firm of its kind in the world to sell computers that exploit quantum effects in their operations. This statement shouldn’t be taken with a pinch of salt by investors, and the company’s commitment to building quality quantum computing products could place it at the forefront of any upcoming industry boom period. 

Whether quantum computing will go on to have its ‘generative AI moment’ or not is unlikely to faze D-Wave. With a client list including Google and the University of Southern California, the firm is in a strong position to sustain its growth long into the future. 

What makes D-Wave a special stock? D-Wave’s approach to quantum computing involves the creation of annealing quantum computers. Designed to specifically solve complex optimization problems surrounding logistics, financial modelling and scheduling, these computers offer rapid solutions at a scale that traditional computers couldn’t possibly emulate. 

Despite illustrious clients and an active commitment to innovative products, D-Wave’s stock fell nearly 40% in 2023. Despite this, the company grew its Q3 2023 bookings by 53% on a year-over-year basis, representing its sixth consecutive quarter of year-over-year growth in bookings. 

On the date of publication, Dmytro Spilka did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.