So far in 2025, players such as Amazon Web Services (AWS), Google, IBM, and Microsoft have announced breakthroughs in quantum chips and capabilities.
The report also highlights the latest developments including Google’s Willow chip, Microsoft’s Majorana 1 processor, IBM’s Quantum Heron and AWS’s Ocelot as they have addressed key challenges like error correction and scalability. “While practical applications of quantum computing have yet to be realized, significant strides are being made. These developments reflect ongoing progress in the field, as companies continue to explore the path from experimental research to potential real world applications. Quantum technologies could have an economic impact across the chemicals, life sciences, finance and mobility industries,” said the report.
It also identifies certain uncertainties:
1) Technical challenges include achieving the ability to manage a sufficient quantity and quality of qubits over a long enough period to derive meaningful computational results while navigating potential regulatory, technological and financial barriers to adoption that are not yet apparent.
2) Cost-effectiveness may take time to achieve. Most of the calculations that businesses require can be performed by traditional supercomputers reasonably well and at a much lower cost than for quantum computers. Once quantum advantage is achieved, costs may come down, but it is currently unclear which quantum computing components will become more cost-effective.
3) Quantum computing ecosystems are nascent. Innovation outside quantum hubs is hindered by limited awareness and adoption of quantum technologies, varying levels of technology maturity and applicability for different industries, the need for increased interdisciplinary coordination to bring technologies to market, and continued work among quantum companies to find and develop talent in quantum theory, hardware and software development.
4) Countries leading in quantum technology could revolutionize industries like pharmaceuticals, logistics and cybersecurity, potentially widening the economic gap among nations.