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Preparing for the post-quantum era of security
Preparing for the post-quantum era of security

Quantum disruption is imminent

What is quantum computing?

Imagine your current computer as a very fast librarian who can only look up one book at a time. Quantum computers are like a team of librarians who can check millions of books at once, because they play by the strange rules of quantum physics.

Traditional computers use bits, which are either 0 or 1, like a light switch that’s either on or off. Quantum computers use qubits, which can be 0 and 1 at the same time (a phenomenon called superposition). This means they can explore many possibilities in parallel instead of one by one.

There’s another remarkable feature: entanglement. When qubits are entangled, they share information instantly, no matter how far apart they are. This lets quantum computers tackle incredibly complex problems at speeds that would take classical computers centuries.

Traditional computing

  • Use bits, which are either 0 or 1, can't be both.
  • Slow processing speeds.

Quantum computers

  • Use qubits, which can be 0 and 1 at the same time (superposition).
  • Quantum computers use entanglement. When qubits are entangled, they share information instantly, no matter how far apart they are. This lets quantum computers tackle incredibly complex problems at lighting speeds.  

The quantum decryption countdown

Commercially viable quantum computers may be only a few years away, but significant hurdles still stand in the way. These machines are extraordinarily sensitive; even the slightest environmental disturbance can cause errors, making current systems unreliable and difficult to scale for real-world use.

The technology race is also far from settled. Multiple approaches are being explored, from superconducting circuits to trapped ions, and no clear winner has emerged. Each path faces its own engineering and stability challenges.

Despite these obstacles, progress is accelerating. Most experts agree that practical quantum computers capable of supporting real-world applications are on the horizon, and that when they arrive the impact will be transformative.

Big money, big momentum: quantum investment surges

Various companies have recently announced plans to deliver large-scale, 'fault-tolerant' quantum computers, which can continue to operate reliably in the presence of errors:

  • In line with the 2023 National Quantum Strategy,2 the Australian and Queensland governments have invested almost $1 billion in quantum computing company PsiQuantum, which aims to have a utility-scale, fault-tolerant quantum computer operational on its Brisbane site by the end of 2027.3
  • Other companies, including US-based IBM and UK-based Quantinuum, have their sights set on delivering their models by 2029.4
  • Google also announced it had run an algorithm on its 'Willow' quantum computing chip that had achieved breakthroughs in both computational speed and error-correction capabilities, signalling a pathway to useful applications of quantum technology within five years.5

Investment into quantum computing companies exceeded US$1.25 billion in Q1 2025, more than doubling last year's figure for the same period and accounting for more than 70% of all quantum-related funding.6

Quantum technology Q1 2025 investment

Footnotes

  1. APRA Corporate Plan 2024–25, APRA.

  2. See National Quantum Strategy, Department of Industry, Science and Resources, 3 May 2023.

  3. See PsiQuantum to Build World’s First Utility-Scale, Fault-Tolerant Quantum Computer in Australia, PsiQuantum, 29 April 2024.

  4. See How IBM will build the world's first large-scale, fault-tolerant quantum computer, IBM, 10 June 2025; Quantinuum Overcomes Last Major Hurdle to Deliver Scalable Universal Fault-Tolerant Quantum Computers by 2029, Quantinuum, 26 June 2025.

  5. See Google unveils quantum computing breakthrough on Willow chip, Australian Financial Review, 23 October 2025.  

  6. Q1 2025 Quantum Investment: What’s Driving the Surge?, Quantum Insider, 11 August 2025.