Inside the Quantum Computing Race: Power, Security, and Global Stakes

Global competition to lead in quantum computing is intensifying, with governments and corporations investing heavily in what many view as the next frontier of technology. A recent Bank of America report estimates that global funding for quantum research and development has already exceeded US$42 billion, evidence of the urgency to gain an edge in this transformative field.

China currently leads the investment race, contributing around 35% of total funding, while the United States, Europe, and Japan remain major players. The prize is enormous: quantum computers hold the potential to revolutionize industries such as pharmaceuticals, finance, and logistics by solving problems far beyond the reach of today’s classical machines.

Yet the much-discussed “quantum advantage”, the moment when quantum systems outperform traditional computers, remains elusive. Persistent challenges around stability, noise, and error correction continue to slow down progress.

Alongside the hardware race, a new battleground is emerging in cybersecurity. As quantum computing advances, current encryption systems face the risk of being rendered obsolete. This has spurred global efforts in post-quantum cryptography (PQC). Organizations like Capgemini and security agencies worldwide are urging businesses to act now, as the U.S. National Institute of Standards and Technology (NIST) works to finalize quantum-resistant algorithms expected to roll out broadly by 2035.

The consequences of inaction could be severe. Experts warn that companies unprepared for the shift may face devastating data breaches once quantum systems achieve practical power. For tech giants such as IBM, the focus is not only on building quantum hardware but also on ensuring digital security keeps up with the pace.

The outcome of this race extends far beyond computing performance. It will determine the technological leadership, economic strength, and cybersecurity resilience of entire nations.