Investing in Quantum Computing: Where Are We in the Journey?
Quantum computing has long held the promise of revolutionising our technological landscape, from breaking encryption methods and simulating complex molecules to solving previously intractable optimisation problems. But despite the hype, we’re still in the early innings of this transformative journey. So, where exactly are we today, and what does the road ahead look like?
Quantum Reality Check: The Current Landscape
Today’s leading quantum computers operate at around 50–100 physical qubits.
However, these are not yet "logical qubits", error-corrected and stable computational units required for practical applications. Due to noise, decoherence, and error rates, building even a single usable logical qubit can require thousands of physical ones.
Estimates suggest we’ll need upwards of 1 million physical qubits to create a quantum system with around 100–200 reliable logical qubits, sufficient to outperform classical computers on useful tasks. In 2024, companies like IBM, Google, and IonQ have made progress, but we’re still at around 64–100 high-fidelity
physical qubits in operational machines, decades away from the goal of fault-tolerant quantum computing.
When Will Quantum Go Mainstream?
The honest answer: not imminently. Most forecasts place practical, scalable quantum computing 10 to 20 years in the future. That doesn’t mean it’s not worth investing in now, governments and corporates alike are pouring billions into quantum research and infrastructure, understanding the immense first-mover advantage the technology could offer.
That said, early commercial quantum services are already being trialled. These include:
â—Ź Quantum-inspired algorithms for optimisation in logistics and finance
â—Ź Hybrid classical-quantum computing models used in material science simulations
â—Ź Post-quantum cryptography research, driven by the looming threat to RSA and ECC encryption
So while we’re far from replacing classical systems, we are on a slow but steady trajectory of integration.
How Quantum Will Transform Technology
Quantum computing isn’t about doing everything faster, it’s about doing things that are impossible with classical machines. Its most significant impact areas will include:
â—Ź Cryptography: Public key encryption could become obsolete. Quantum computers could factor large numbers quickly, breaking RSA, or solve discrete logarithms, affecting ECC.
â—Ź Drug Discovery and Materials Science: Quantum simulation could model complex molecular interactions with unprecedented accuracy, slashing the R&D time in pharmaceuticals and chemicals.
â—Ź Financial Services: Portfolio optimisation, fraud detection, and risk modelling may be transformed through quantum-enhanced data processing.
â—Ź AI and Machine Learning: Though still speculative, quantum techniques could improve training speed for complex models or enable new architectures entirely.
These transformations won’t happen overnight, but their implications demand preparation now.
The Talent Gap: Where Recruitment Focus Needs to Shift
With full-scale quantum computing still a decade or more away, the hiring challenge today is not about recruiting "quantum developers" in the conventional sense.
Instead, the industry needs interdisciplinary, highly adaptive professionals to help lay the groundwork for future scalability.
In-Demand Roles in Today’s Quantum Ecosystem:
â—Ź Quantum Software Engineers: Often, physicists or mathematicians first, these professionals understand the quirks of quantum gates, decoherence, and entanglement. They work with quantum programming languages like Qiskit, Cirq or Q#.
â—Ź Cryogenic Hardware Engineers: Quantum processors operate at temperatures colder than deep space. Engineers with backgrounds in materials science, cryogenics, and ultra-low noise electronics are crucial.
â—Ź Classical System Integration Engineers: Despite the ‘quantum’ name, much of the support stack remains classical. Engineers who can bridge conventional HPC systems with quantum backends are in high demand.
â—Ź Quantum Algorithm Designers: PhD-level researchers who design and optimise algorithms suited to quantum systems, especially in areas like chemistry, logistics, or cryptography.
â—Ź Control Systems & Error Correction Specialists: Noise remains the core hurdle in scaling quantum computers. Experts in stabilisation, quantum error correction, and signal fidelity are key to advancing the hardware.
How Employers Can Support the Ecosystem
This is not a volume hiring market; it’s a specialised talent pool spread across academia, R&D labs, and deep-tech start-ups. Successful recruitment requires:
â—Ź Long-term relationship building with research institutions and innovation clusters
â—Ź Cross-functional knowledge of software, engineering, and theoretical physics A willingness to think globally, as many candidates may be based in Europe, North America or Asia
A focus on flexibility and upskilling, helping classical engineers transition into quantum-adjacent roles
Many companies are also hiring into quantum strategy and ecosystem roles, which do not require hands-on technical skills but demand an understanding of the commercial applications and roadmap for quantum integration.
Conclusion: Prepare for a Marathon, Not a Sprint
Quantum computing is no longer science fiction, but it’s not enterprise-ready, either. We’re at the stage of infrastructure-building, ecosystem investment, and exploratory deployment.
Organisations looking to stay ahead should begin forming partnerships with quantum labs, consider use-case discovery programmes, and, critically, rethink their approach to talent. Building an internal knowledge base and nurturing a pipeline of adaptable, high-calibre professionals will be essential in navigating the decade-long journey ahead.
Quantum may be distant, but the race to be quantum-ready has already begun
