Quantum computing, a breathtaking product of advancements in technology, promises exponential growth in computational power that can catapult us into an era we can hardly imagine today. Its potential impacts are vast, influencing sectors ranging from environmental science and medicine to code-breaking and privacy. But what exactly is quantum computing, where is it heading, and how might it impact our society and our lives?

At the heart of quantum computing lies the concept of quantum bits or “qubits”. Unlike classical bits, which can be either a 0 or a 1, a qubit can be in a “superposition” of states — embodying both 0 and 1 simultaneously, until measured. This incredible, almost mystical property gives quantum computers the potential to compute a vast number of calculations simultaneously, leading to immense computational power.

One significant area that quantum computing could revolutionize is cryptography. Today’s encryption systems, which secure data for everything from online transactions to government secrets, rely on problems that classical computers find hard-to-nearly-impossible to solve, such as the factorization of large numbers. Quantum computers, with their immense computational power, could theoretically crack these encryptions with relative ease, posing a potential risk to global data security. This is leading to the fascinating field of quantum cryptography, where quantum mechanics are used to create secret keys that, if intercepted, would change state and thus alert the sender to the intrusion.

This computational power can be an advantage for scientific research as well. Complex simulations, currently beyond the reach of most powerful supercomputers, could be run in mere hours on quantum computers. This means accelerated discoveries in materials science, biology, and physics — including the precise modeling of molecular interactions to accelerate drug discovery, better climate modeling to provide a more accurate understanding of global warming, and breakthroughs in physics that could illuminate the nature of the universe.

Moreover, quantum computing has the potential to redefine machine learning and artificial intelligence. These fields depend heavily on algorithms processing large volumes of data. The extraordinary speed and parallelism offered by quantum computing significantly enhance the learning capabilities of machines, allowing reasoning and decision-making to become more sophisticated and accurate.

Furthermore, advancements in quantum computing could potentially have considerable economic impacts. Entire industries that rely on computational strength — like finance, logistics, and energy — can stand to benefit from improved optimization algorithms run on quantum systems. However, these advancements might also necessitate restructuring and workforce development as traditional approaches in many sectors could become obsolete.

It’s essential to note, though, that we don’t quite know what the full impact of quantum computing will be yet. The technology is in its early stages, and there are numerous technical hurdles to overcome. Quantum states are delicate and maintaining them long enough to perform meaningful calculations — known as the problem of “coherence” — poses a persistent challenge.

In conclusion, quantum computing, while still in its infancy, warrants close attention. Its potential for transforming our computational capabilities, driving innovation in numerous sectors, and directly influencing our societal structures make it both an exciting and challenging frontier in the landscape of technology. The upcoming decade is likely to see rapid advancements and potentially some breakthroughs that establish the era of quantum computing – a true testament to human ingenuity and thirst for knowledge.