As a layperson, maybe I can help with a layman's explanation for newcomers especially, although am not saying @FatHarrysCat, you're new.
What AXE has achieved is a reliable, robust and repeatable way to accurately detect the state of the quantum bit - what spin it's in when measured. Say they assign the qubit up spin as a 1 and a down spin a 0. This accurate detection of spin state has been done within a tiny chip with micro circuitry. So in effect, this is now a quantum bit processor like any digital microprocessor and can be fabricated as a quantum chip.
What's the benefit of a quantum chip over a garden variety silicon micro or nano chip that we use in devices every day? It allows for not just the 0 and 1 binary measurements but also measures in between states. Current main uses of this property is to measure probabilities and/or more nuanced indicators. This quantum information can be used in processing big data, Artificial Intelligence applications and training machines to 'think' . These are not necessarily speedier than micro processors at the digital signal processing level, but they enable speed ups in data detection and processing by using probability math at the quantum spin state level. Our smartphone cameras already use AI software to improve images and provide augmented reality scenarios. Qubit chip powered phones might make it possible to point a phone at an object and the camera recognizes it with a much higher degree of accuracy and nuance.
Actually I would be interested to see where AXE is going to go with this mobile device path.
(20min delay)