Quantum computing could be one of the most powerful advancements in human history, accelerating the pace at which problems can be solved.
Quantum computing is based upon the fundamentals of quantum mechanics which describe the difference in behaviour between small objects like atoms and larger objects.
Classical computers, such as those developed in the 1950s and 2020s, are essentially the same at their core, when it comes to the binary logic that makes them function. These machines perform their calculations (or functions) using binary information called bits; either a 1 or 0. When combined using binary code and manipulated, humans can use classical computers to create everything from an operating system like iOS to the most complex supercomputer calculations. [2]
Quantum computers, like classical computers, are built to solve problems. However, instead of using bits, they use qubits. By harnessing the phenomena known as superposition, quantum computers can perform tasks far more complex and faster than any classical computer.
Superposition can be understood like this: a physical system like an electron or photon, exists in multiple states at the same time. As mentioned previously, a classical computer stores information in a 1 or 0, however superposition can be understood as a probability of being a 1 or a 0. The qubit holds both possibilities at once, each with a certain probability, and only becomes a 1 or 0 when it is measured or observed.
There are several industries that could benefit from quantum computers, and that list will be ever growing as more research and progress is made. Google’s quantum computer has already demonstrated speeds approximately 13,000 times faster than classical computers on certain, specific tasks.[3] Something that could assist AI workloads as adoption continues to accelerate.
One of the starkest examples of an industry that will benefit from quantum computing is healthcare. Drug discovery is a process that could be compressed significantly. For example, sequencing the human genome took 13 years and cost $2.7 billion in the early 2000s;[4] quantum computing could theoretically reduce this time to a matter of minutes. By providing precise simulations of how molecules interact, quantum computation could help design improved treatments and accelerate research into the most complex conditions, improving healthcare equity and health crisis response.
However, not all quantum computing use cases are as positive. One of the most significant short term cybersecurity risks is not a quantum computer breaking into secure networks, but adversaries gathering and collating encrypted data with the intention of decrypting it once quantum machines become powerful enough – a concept known as ‘harvest now, decrypt later (HNDL).[5]
In direct response, the US National Institute of Standards and Technology finalised its Post-Quantum Cryptography standards – specifically FIPS 203, 204, and 205.[6] These standards have been mandated for all Federal systems to help secure government information from possible incursions. The threat of HNDL has triggered somewhat of a quantum arms race, as governments globally try to secure systems against a threat that is only a matter of years away from being a reality.
Currently, the quantum computing market is relatively small compared to Artificial Intelligence (AI), that is estimated to be worth $347.05bn.[7] However, the Compound Annual Growth Rate (CAGR) is similar at 28.66% and 37%. The chart below shows how the quantum market growth could exceed $26bn by 2032, emphasising the importance and scale of this next iteration of computing power. Over a longer horizon, Boston Consulting Group (BCG) estimates the global market could reach $850bn by 2040,[8] further reinforcing how important quantum could be to the world’s economies. It is important to note that revenues are almost entirely derived from research contracts, access fees, and commercial deployment is not expected for multiple years. But by comparing quantum to comparable industries – in terms of scale and perceived importance, quantum presents a considerable case for being one of the most important developments in recent memory.
Source: Research and Markets. Data as of January 2026. For illustrative purposes only.
Quantum computing is not a near term development; it potentially represents one of the most economically transformative technologies in the coming decades. There are several areas to focus on as the technology receives more scrutiny and interest, with regard to use cases, but the long-term economic implications are significant enough to warrant attention, even at this early stage in development.
[1] https://www.bcg.com/press/18july2024-quantum-computing-create-up-to-850-billion-of-economic-value-2040
[2] https://www.ibm.com/quantum
[3] https://www.theguardian.com/technology/2025/oct/22/google-hails-breakthrough-as-quantum-computer-surpasses-ability-of-supercomputers
[4] https://www.quantinuum.com/blog/quantum-computing-joins-the-next-frontier-in-genomics#:~:text=Thanks%20to%20technological%20advances%20in,in%20algorithms%20and%20computing%20power.
[5] https://www.paloaltonetworks.com/cyberpedia/harvest-now-decrypt-later-hndl
[6] https://markets.chroniclejournal.com/chroniclejournal/article/marketminute-2026-3-17-the-quantum-collision-ibms-modular-leap-challenges-d-waves-commercial-dominance
[7] https://www.statista.com/outlook/tmo/artificial-intelligence/worldwide?srsltid=AfmBOoqO_mz8Hj9xb4hqdp-TpR1as5Q1MEOds6_Y6uBl7bQgc5vRbN_y#market-size
[8] https://www.bcg.com/press/18july2024-quantum-computing-create-up-to-850-billion-of-economic-value-2040
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Quantum computing is a form of computing based on the principles of quantum mechanics. Unlike classical computers, which use bits represented as either 1 or 0, quantum computers use qubits, which can hold multiple possibilities at once through a phenomenon known as superposition.
Classical computers use binary information, represented by bits as either 1 or 0. Quantum computers use qubits, which can exist as a probability of being 1 or 0 until measured. This allows quantum computers to perform certain complex tasks far faster than classical computers.
Quantum computing could have applications across healthcare, artificial intelligence, drug discovery, cybersecurity and advanced scientific research. In healthcare, it could help simulate how molecules interact, potentially accelerating drug discovery and improving treatment development.
Quantum computing matters for cybersecurity because powerful quantum machines may eventually be able to decrypt data that is currently considered secure. This has created concern around “harvest now, decrypt later”, where encrypted data is collected today with the aim of decrypting it in the future.
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