The Future Of Quantum Computing Where Are We Now

Bonisiwe Shabane

-Jan 2, 2026, 5:22 PM

the future of quantum computing where are we now

Rob Rowe, Citi's U.S. Regional Director of Research, sits down with IBM's Noelle Ibrahim to discuss the current state of quantum computing, IBM's road map for future advances, and potential applications for this fast-moving technology.This podcast contains thematic... This podcast is provided for information purposes only and does not constitute an offer or solicitation to purchase or sell any financial instruments. The contents of this podcast are not based on your individual circumstances and should not be relied upon as an assessment of suitability for you of a particular product, security or transaction. The information in this podcast is based on generally available information, and although obtained from sources believed by Citi to be reliable, its accuracy and completeness are not guaranteed. Past performance is not a guarantee or indication of future results.

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or its affiliates and are used and registered throughout the world. Rob Rowe is the Head of Citi Research’s Global Strategy & Macro Group (GSMG) as well as Head of Research for the Americas. GSMG unites all of Citi’s Economists with Fixed Income, FX, Equity and Commodities strategists to create a common team providing research on the world’s major economies and asset classes. Rob has been with Citi for 35 years in various capacities. He originally joined Smith Barney, Harris Upham & Company in 1989 working in investment banking, fixed income sales, and research. In addition to his overall responsibilities, he continues to provide portfolio strategy for select clients as part of his previous role overseeing the Global Bond Portfolio Analysis team.

Dr. Noelle Ibrahim is a Technical Client Advisory Executive at IBM Quantum. Ibrahim partners with senior leaders in finance, industry, and technology to advance the real-world adoption of quantum computing. Known for bridging rigorous technical insight with business strategy, she designs strategic roadmaps for global banks, fintechs, and government partners planning for a future in which quantum and AI reshape risk management, financial and... With a PhD in Applied Physics and a career spanning derivatives pricing, fintech entrepreneurship, and transformational risk programs, Noelle brings both technical depth and strategic foresight. Her work is driven by one goal: ensuring quantum technology delivers meaningful impact for industries and society.

Credit: Bartlomiej K. Wroblewski / Shutterstock The “Quantum Index Report” is a comprehensive assessment of the technology and the global landscape, from patents to the quantum workforce. Quantum computing is evolving into a tangible technology that holds significant business and commercial promise, although the exact timing of when it will impact those areas remains unclear, according to a new report led... The “Quantum Index Report 2025” charts the technology’s momentum, with a comprehensive, data-driven assessment of the state of quantum technologies. The inaugural report aims to make quantum computing and networking technologies more accessible to entrepreneurs, investors, teachers, and business decision makers — all of whom will play a critical role in how quantum computing...

Imagine a computer that could solve incredibly complex problems at a speed we can't yet fathom and bring about breakthroughs in fields like drug development or clean energy. That is widely considered the promise of quantum computing. In 2025, tech companies poured money into this field. The Trump administration also named quantum computing as a priority. But when will this technology actually deliver something useful for regular people? NPR's Katia Riddle reports on the difference between quantum hype and quantum reality.

KATIA RIDDLE, BYLINE: Tech companies like Google and Microsoft, as well as the U.S. government, bet big on quantum computing in 2025. UNIDENTIFIED PERSON #1: Google Quantum AI is unveiling the first demonstration of verifiable quantum advantage. PRESIDENT DONALD TRUMP: Joining forces on quantum computing. UNIDENTIFIED PERSON #2: Creating an entirely new architecture for quantum computing. When it comes to quantum technology (QT), investment is surging and breakthroughs are multiplying.

The United Nations has designated 2025 the International Year of Quantum Science and Technology, celebrating 100 years since the initial development of quantum mechanics. Our research confirms that QT is gaining widespread traction worldwide. McKinsey’s fourth annual Quantum Technology Monitor covers last year’s breakthroughs, investment trends, and emerging opportunities in this fast-evolving landscape. In 2024, the QT industry saw a shift from growing quantum bits (qubits) to stabilizing qubits—and that marks a turning point. It signals to mission-critical industries that QT could soon become a safe and reliable component of their technology infrastructure. To that end, this year’s report provides a special deep dive into the fast-growing market of quantum communication, which could unlock the security needed for widespread QT uptake.

Quantum technology encompasses three subfields: Our new research shows that the three core pillars of QT—quantum computing, quantum communication, and quantum sensing—could together generate up to $97 billion in revenue worldwide by 2035. Quantum computing will capture the bulk of that revenue, growing from $4 billion in revenue in 2024 to as much as $72 billion in 2035 (see sidebar “What is quantum technology?”). While QT will affect many industries, the chemicals, life sciences, finance, and mobility industries will see the most growth. McKinsey initiated its annual quantum technology report in 2021 to track the rapidly evolving quantum technology landscape. We analyze three principal areas of the field: quantum computing, quantum communication, and quantum sensing.

The analysis is based on input from various sources, including publicly available data, expert interviews, and proprietary McKinsey analyses. The conclusions and estimations have been cross-checked across market databases and validated through investor reports, press releases, and expert input. Because not all deal values are publicly disclosed and databases are updated continuously, our research does not provide a definitive or exhaustive list of start-ups, funding activities, investment splits, or patents and publications. Imagine a world where we can solve problems that are impossible for today’s most powerful supercomputers. Picture a future where new medicines are designed in hours instead of years, where financial systems are optimized with unparalleled precision, and where breakthroughs in artificial intelligence transform society in ways we can’t yet... This is not the realm of science fiction.

It is the promise of quantum computing—a radical leap into a future powered by the strange and fascinating laws of quantum mechanics. For over half a century, we’ve been riding the wave of Moore’s Law, doubling the power of classical computers every 18 to 24 months. But as transistors shrink to the atomic scale, we’re hitting the limits of what classical machines can do. Enter quantum computing—a completely different paradigm that doesn’t just make computers faster, but fundamentally redefines how they work. Quantum computing isn’t just a technological upgrade; it’s a revolution. It holds the potential to crack the uncrackable, simulate nature at an atomic level, and solve complex problems with elegance and efficiency.

But what exactly is quantum computing? How does it work? Why is it important? And what does the future hold? Let’s dive into this mind-bending world and find out. Before we can understand quantum computing, we need to understand the bizarre world of quantum mechanics—the branch of physics that governs the behavior of particles at the atomic and subatomic scale.

Unlike the predictable world of classical physics, the quantum world is ruled by uncertainty, probability, and phenomena that defy our everyday experience. At the dawn of the 20th century, scientists realized that the laws of classical physics couldn’t explain certain phenomena, like the behavior of electrons in atoms or the strange properties of light. Pioneers such as Max Planck, Albert Einstein, Niels Bohr, and Erwin Schrödinger laid the foundations of quantum mechanics. They discovered that: New machines will use individual atoms as qubits The goal of the quantum-computing industry is to build a powerful, functional machine capable of solving large-scale problems in science and industry that classical computing can’t solve.

We won’t get there in 2026. In fact, scientists have been working toward that goal since at least the 1980s, and it has proved difficult, to say the least. “If someone says quantum computers are commercially useful today, I say I want to have what they’re having,” said Yuval Boger, chief commercial officer of the quantum-computing startup QuEra, on stage at the Q+AI... This article is part of our special report Top Tech 2026. Because the goal is so lofty, tracking its progress has also been difficult. To help chart a course toward truly transformative quantum technology and mark milestones along the path, the team at Microsoft Quantum has come up with a new framework.

Nature Computational Science volume 5, pages 1093–1094 (2025)Cite this article As quantum mechanics marks its centennial, this issue of Nature Computational Science features a Focus that outlines the impact of quantum mechanics in advancing computing technologies, while discussing the challenges and opportunities that lie... Quantum mechanics emerged in the early twentieth century when scientists sought to explain phenomena that classical physics could not elucidate, such as the discrete energy levels of the hydrogen atom. In 1900, Max Planck introduced the concept of energy quantization to explain blackbody radiation1, which is considered the birth of quantum theory. Later, Niels Bohr’s atomic model2,3, Werner Heisenberg’s matrix mechanics4, and Erwin Schrödinger’s wave equation5 collectively established a comprehensive framework for quantum mechanics that explained why electrons occupy discrete energy levels and exhibit wave–particle duality,... These breakthroughs also paved the way for modern computing technologies.

This year marks the centennial of quantum mechanics, honoring Heisenberg and his contemporaries’ works on laying the foundation for modern quantum theory. To celebrate the anniversary, this issue of Nature Computational Science presents a Focus that explores the profound impact of quantum mechanics on advancing computational capabilities. The first notable impact of quantum mechanics on computing was its provision of a theoretical framework to understand electron behavior in solids, which is essential for semiconductor design. By explaining how electrons move through crystal lattices and interact with impurities, quantum mechanics enabled precise doping strategies that control conductivity in materials. Between the 1940s and 1950s, this understanding led to the creation of p–n junctions, the building block of the transistor, a tiny electronic switch that serves as the physical basis for modern digital computing,... This fueled the later exponential growth of computing power, such as the spread of supercomputers.

The Future Of Quantum Computing Where Are We Now

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Rob Rowe, Citi's U.S. Regional Director Of Research, Sits Down

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Dr. Noelle Ibrahim Is A Technical Client Advisory Executive At

Credit: Bartlomiej K. Wroblewski / Shutterstock The “Quantum Index Report”