Quantum computing harnesses quantum mechanics to perform computations using quantum bits (qubits) that can exist in superpositions of states. It has the potential to solve certain problems, like integer factorization, much faster than classical computers. Several companies like IBM, Microsoft, Google, and D-Wave are actively researching and developing quantum computers using different technologies like ion traps and superconducting circuits. Potential applications include simulation, machine learning, cryptography, and more. However, building a large-scale, practical quantum computer remains a significant technical challenge.