State of Quantum Computing

The report examines the transition of quantum computing from research to a global economy, noting that while no hardware platform has yet achieved a practical real-life quantum advantage, significant public and private investments exceeding $35.5 billion are driving progress. It identifies high-impact application domains in materials science, biology, and complex system optimization, while warning of the strategic risk to current encryption methods. The document emphasizes that workforce readiness, standardization, and proactive policy are critical bottlenecks that must be addressed to unlock the technology's potential.

• Global investment in quantum technologies reached more than $35.5 billion by 2022, with public investments exceeding $30 billion and private equity investments growing rapidly since 2018.
• Quantum computing is expected to be most impactful in three primary domains: molecular simulation and discovery (materials science and biology), optimization and risk management in complex systems, and its bi-directional impact on AI, security, and blockchain.
• A critical security risk is that scalable quantum computers will be able to break current RSA encryption and compromise digital communications, blockchain, and cryptocurrencies.
• No current hardware platform has reached 'Level 4' maturity, meaning none have demonstrated a quantum advantage in a practical, real-life application at scale.
• Superconducting qubits and trapped ions are currently the most advanced hardware platforms, though others like neutral atoms, photonic qubits, and silicon-based qubits are also being developed.
• The 'quantum skills shortage' is a primary bottleneck, as most current roles require highly technical PhD-level specializations, necessitating the introduction of quantum concepts in primary and secondary education.
• There is a lack of policy regarding the energy usage of quantum computing, which the report suggests should be addressed to avoid the high energy costs and carbon emissions associated with classical computing.
• Standardization is currently focused on terminology and performance benchmarks rather than hardware interfaces, as the diversity of hardware platforms makes premature technical standards risky.

APA

World Economic Forum (2022). State of Quantum Computing. https://www3.weforum.org/docs/WEF_State_of_Quantum_Computing_2022.pdf

Chicago

World Economic Forum. State of Quantum Computing. 2022. https://www3.weforum.org/docs/WEF_State_of_Quantum_Computing_2022.pdf.

Wikipedia

{{cite report |author=World Economic Forum |title=State of Quantum Computing |date=September 2022 |url=https://www3.weforum.org/docs/WEF_State_of_Quantum_Computing_2022.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldeconomicforum2022state, author = {{World Economic Forum}}, title = {{State of Quantum Computing}}, institution = {World Economic Forum}, year = {2022}, month = sep, url = {https://www3.weforum.org/docs/WEF_State_of_Quantum_Computing_2022.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }