Quantum Computing Takes Off With $55 Billion In Global Investments

YORKTOWN HEIGHTS, N.Y. - OCTOBER 18: Exhibition model of IBM Q System One quantum computer. (Photo ... [+] by Misha Friedman/Getty Images)

Like the hapless tramps in Samuel Beckett’s play Waiting for Godot, the world has been waiting – not for the mysterious Godot, but for quantum computing, which is much anticipated but has yet to arrive. But while the ghostly Godot never does show up, quantum is beginning to materialize.

It’s about time. Global powers, led by China, have invested more than $55 billion in the promising technology and we are closer than ever to realizing the $500 million to $1 billion in gains that quantum promises to deliver to businesses over the next fifteen years. The quantum market is already estimated to be worth more than $1 billion this year, even though quantum computers are not yet very useful.

In Europe, Germany has launched an investment plan of more than $3 billion by 2026, and France has announced an investment of nearly $2 billion, aiming to train 5,000 quantum-ready engineers and create 30,000 jobs. In the United States, the National Quantum Initiative Act has authorized $1.2 billion in funding over five years for quantum computing research and development.

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