What is Quantum Computing?

Quantum computing represents a transformative new way of performing calculations, using the principles of quantum physics to tackle problems that are far too complex for even the most advanced traditional computers.

Imagine flipping a coin. Normally, we say it’s either heads or tails. But while it’s still spinning, it’s not clearly one or the other—it’s a mix of both possibilities. That in-between state mirrors a key concept behind quantum computing.

For decades, digital computers have steadily improved our ability to process data. Quantum computing, however, operates on a completely different model—one that opens the door to solving high-level problems in fields like finance, logistics, healthcare, and sustainability. This emerging field could generate nearly $1.3 trillion in value by 2035. In fact, 2024 saw a major uptick in investment and growth in the industry: 39% of surveyed quantum firms had over 100 employees—up from just 9% the year prior—and governments have already pledged $34 billion toward quantum development.

How Does Quantum Computing Work?

Traditional computers operate using bits, which represent data as either a 0 or a 1. Quantum computers use qubits, which can represent both 0 and 1 at the same time—a property known as superposition. When qubits are in superposition, they can interact with one another through quantum interference, allowing for powerful parallel processing.

Additionally, qubits exhibit entanglement, a phenomenon where the state of one qubit is directly tied to another. This enables exponential scaling: two qubits can encode four pieces of information, three can encode eight, and so on—unlocking significantly greater computational potential.

Currently, the most promising technologies used to build scalable quantum systems include:

  • Photonic networks
  • Superconducting circuits
  • Spin qubits
  • Neutral atoms
  • Trapped ions

Latest Developments in Quantum Computing

Leading tech companies are pushing boundaries. In 2024, Google introduced a quantum computer capable of solving a problem in five minutes that would take the world’s most powerful supercomputers septillions of years. Its quantum chip, Willow, is tailored for advanced research.

In 2025, Microsoft revealed a breakthrough: a new form of matter, leading to its Majorana 1 chip based on “topological qubits.” These are expected to improve quantum system stability and efficiency by minimizing error and reducing quantum decoherence—where quantum systems lose their unique behavior.

While quantum computers today have limited real-world uses, rapid progress is narrowing the gap between theoretical potential and practical applications.

Current and Future Uses of Quantum Computers

Quantum computers differ from classical ones not just in speed, but in nature. Instead of outputting a single answer, quantum machines return a range of possibilities, which is useful for tackling extremely complex, multivariable problems.

Some of the key application areas include:

  • Chemical modeling and drug development
  • Logistics and route optimization
  • Machine learning and AI training
  • Cybersecurity via prime factorization

Though general-purpose quantum computing may still be a decade away, businesses are already beginning to access quantum services through the cloud.

Quantum Computing and AI: A Symbiotic Relationship

Quantum computing and AI enhance one another:

  • Quantum for AI: It can dramatically speed up data processing and enable more powerful learning models.
  • AI for Quantum: AI helps improve quantum systems through:
    • Error correction
    • Noise reduction
    • Hardware optimization
    • Efficient resource allocation
    • Hybrid system design

Together, these two technologies could accelerate the journey toward artificial general intelligence (AGI).

Challenges Slowing Quantum Progress

Despite breakthroughs, scaling quantum computers is a significant challenge. Qubits are fragile and susceptible to errors. Major hurdles include:

  • Maintaining qubit fidelity and coherence
  • Building networks of millions of qubits
  • Controlling individual qubits in large systems
  • Managing cooling systems and energy requirements
  • Manufacturing at scale

Overcoming these challenges will require innovation in design, infrastructure, and materials science.

Blending Quantum and Classical Computing

Quantum systems will complement, not replace, classical computers in the near term. Early-stage use cases involve using quantum to narrow solution sets, with classical systems refining the final outcome—especially in optimization-heavy sectors like finance and supply chains.

The Talent Gap in Quantum Computing

There’s a significant mismatch between the demand for quantum professionals and the number of qualified individuals. McKinsey estimates that fewer than half of quantum jobs in 2025 will be filled at current growth rates.

Lessons from AI hiring can guide strategy:

  1. Clearly define talent needs.
  2. Hire translators—professionals who can bridge business, tech, and science.
  3. Build diverse pipelines to avoid bias and broaden innovation.
  4. Educate staff across departments about quantum fundamentals.
  5. Invest in development, not just recruitment.

Key Business Use Cases for Quantum

Quantum computers will eventually deliver advantages in several core areas:

  1. Quantum Simulation
    • Modeling molecular structures for drug discovery and material science
  2. Optimization & Search
    • Improving route planning, production schedules, and resource allocation
  3. Quantum AI
    • Accelerating the training of deep learning models and autonomous systems
  4. Cryptography (Prime Factorization)
    • Breaking traditional encryption methods and enabling quantum-safe security

Other Quantum Technologies

Beyond computing, two additional areas of quantum tech are advancing:

Quantum Communication (QComm)

  • Enables secure data transfer through quantum encryption
  • Supports parallel and remote quantum processing

Quantum Sensing (QS)

  • Offers ultra-precise measurements of physical properties (e.g., temperature, magnetic fields)
  • Has applications in medical imaging, geophysics, and defense

While quantum computing garners the spotlight, QComm and QS may reach commercial readiness sooner—and could generate $13 billion in revenue by 2030.

The views and opinions expressed in this article are solely those of the authors and do not necessarily reflect those of Bespoke Business Development. They are intended to encourage discussion and reflection, rather than serve as legal, financial, accounting, tax, or professional advice.

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