Quantum computers represent a breakthrough comparable to the move from valves to transistors in computer engineering. It doesn’t just mean processing data faster; it means processing data in ways that redefine our understanding of what data is and what can be done with it.
Nature, the world around us, the universe and the physical forces that make it all possible aren’t digital in nature. So to get closer to understanding, modeling and predicting their vast, chaotic complexity, “classical” binary computing won’t ever be good enough.
Enter quantum computing and its mind-bending ability to harness strange quantum properties, such as tunneling and superposition, in order to solve certain complex problems in seconds rather than eons.
For example, classical computers are limited, due to their classical” electronic architecture, to storing and processing data in “bits” of one or zero. This is because, fundamentally, their architecture consists of simply a huge number of on/off switches.
A quantum computer, on the other hand, stores and processes data as “qubits” – quantum bits that can, somewhat spookily, exist in both states simultaneously – as well as any of the infinite number of points in between them.
Quantum computing is already being applied in drug and chemical research, material sciences, logistics, finance, cryptography and cybersecurity. Unlike the move from valves to transistors, quantum computers won’t immediately replace today’s “classical” computers. Quantum computers will be reserved for specialist and niche applications that classical computers either wouldn’t be able to handle or would take a literal age to complete.
The global market for quantum computing services is predicted to grow to $15 billion by 2030 as early adopters get started. This will come from hardware, tools, applications, and cloud-based quantum-as-a-service. If you’re wondering how it will affect your industry, business or profession, these are the key players you should be keeping up with:
IBM
IBM was an early pioneer in both valve and transistor-based computing, so it’s no surprise that it’s also pioneering quantum computing. It developed some of the first superconducting qubits and was also the first to offer quantum-as-a-service in the cloud. Last year, it launched the Condor chip, currently one of the most powerful quantum processors available, with over 1,000 qubits.
Google Quantum AI
The quantum development and commercialization arm of Alphabet has distinguished itself with breakthroughs including claiming the first “quantum supremacy” moment. This happened in 2010 when its 53-qubit Sycamore system solved a problem that wasn’t thought to be possible with classical computer architecture. The claim was, however, retroactively annulled years later when a University Of Science And Technology Of China team showed that it actually could be done. In 2024, Google once again claimed they had achieved quantum supremacy with an updated 67-qubit Sycamore.
Google’s latest Willow quantum chips have 105 qubits but, more significantly, greatly improved error correction. This potentially overcomes problems around instability, which has so far limited the potential of quantum computing for some applications.
Microsoft Azure Quantum
Microsoft builds its latest quantum processors—known as Majorana 1 – around a method of quantum computing known as topological qubits. This is another way of (theoretically) improving stability and making quantum accessible for a wider range of tasks. Utility-wise, its strategy, similar to Google, is to provide businesses and research organizations with a suite of cloud-based quantum tools through its Azure platform.
University Of Science And Technology Of China
A leading Chinese technology research center, USTC researchers are responsible for some of the most significant quantum computing breakthroughs to date. Notably in 2023, its Zuchongzhi-2 quantum computer completed the “quantum supremacy” task demonstrated by Googe’s Sycamore in 2019 in just 20 seconds compared to Sycamore’s 200 seconds.
Its successor, Xuchongzhi-3, has just been unveiled, and with 105 qubits, it is believed to be one of the fastest quantum computers built so far.
D-Wave
Beginning as a Canadian research startup, D-Wave was one of the first groups to capitalize on the commercial implications of quantum computing. It launched the first commercially available quantum computer – D-Wave One – in 2011. D-Wave’s approach to building quantum machines is slightly different, focusing on a technology called quantum annealing that’s highly efficient for solving optimization problems. This is particularly significant for businesses because these solutions—finding the most efficient routes for multi-drop drivers or the most effective combination of ingredients to make medicines—can unlock big efficiencies.
Intel
Intel is known for chips, particularly processor chips, so as with other tech companies here, moving into quantum computing was a natural next step. Like Microsoft, Google and IBM, its involvement demonstrates how important big tech believes quantum computing will be in the future. Intel’s quantum technology centers on its Tunnel Falls processor, which uses silicon spin qubits. These are built on classical semiconductor infrastructure, which is still far more scalable and cost-effective than other more exotic quantum technologies right now.
Quantinuum
Quantinuum was formed from a merger between Honeywell’s quantum computing research division and Cambridge University-backed startup Cambridge Quantum. Although it has developed some of the most cutting-edge quantum computers, such as the first 56-qubit trapped-ion quantum processor in 2024, has also developed some of the most mature packages and platforms for enterprise. It offers combined hardware and software solutions and is focused on facilitating the move of quantum computing from research lab to industry.
Rigetti Computing
Rigetti focuses on delivering business-ready, hybrid classical/quantum systems that customers can start using today rather than hitting theoretical goals like quantum supremacy. It takes the same conventional, superconducting-qubits approach to quantum computing engineering as big players like IBM and Google. This is because its strategy is to focus on reducing the time its customers take to start getting value from their investment in quantum computing. It delivered one of the first cloud quantum-as-a-service offerings, and customers include enterprises, government agencies and research organizations.
China Telecom Quantum Group
Another Chinese leader, CTQG, developed a 504-qubit quantum computer called Tianyan-504. In terms of qubits, this is the largest and most powerful quantum computer China has produced so far. Developed in partnership with the Chinese Academy Of Sciences, it will be integrated into Tianyan’s quantum cloud platform to provide quantum-as-a-service to its customers. CTQG also acquired QuantumCTek, an early Chinese quantum computing pioneer distinguished for its work in quantum communications and security, and has developed commercial services around these capabilities.
IonQ
Another quantum-native startup that’s found big-time success in the emerging market for quantum services is IonQ. It has pioneered a quantum computing technology known as trapped-ion, which uses super-stable atoms suspended in electromagnetic fields as qubits. Because they are isolated from other atoms, they remain coherent for longer, resulting in fewer errors. This makes it particularly suited for high-precision simulations needed in many quantum-friendly tasks such as financial modeling and drug discovery.
Are You Quantum Ready?
So, not everyone needs to use quantum computers right away. Their enormous power and relatively high expense mean that classical computers will still be sufficient for many everyday computing tasks for the foreseeable future.
However, businesses, industries, and professionals working in fields where quantum computing will make a difference can’t afford to overlook the opportunity.
Staying up to speed with developments, including the latest moves by the key players mentioned here, is critical for anyone who doesn’t want to get left behind.
