The United Kingdom is expected to invest over $600 million in advanced technology based on quantum physics, with hopes of reshaping the economy and strengthening national security.
The quantum technology sector is expected to bring breakthroughs in various fields, from the development of advanced materials to medical imaging technology.
The UK government aims to become a quantum computing hub.
Quantum computers open up the potential for superior communication security, with the potential to disrupt traditional encryption methods in the near future.
Therefore, building sovereign capabilities in quantum computing is a vital strategy for national security and economic sustainability, according to Gerald Mullally, interim CEO of Oxford Quantum Circuits.
Internal sources reveal the government is preparing to announce a four-year investment plan for quantum technology as part of the country's overall industrial strategy.
This initial funding package will be followed by additional support, based on the $120 million commitment from the previous year to develop five key research centers.
The simultaneous investment supports the National Quantum Computing Centre, which was inaugurated last year, concentrating advanced machinery that pushes the limits of current technology.
Quantum technology is among the scientific strategies initiated by the previous Conservative government. The Labour administration has been reviewing these policies since July last year to assess available funding.
Experts rate quantum technology as a revolution similar to artificial intelligence.
Quantum technology leverages the unique behaviors of matter at the atomic and subatomic levels, completely different from classical physical laws.
For example, quantum sensors are applied to monitor the movement of the London Underground more accurately.
At the same time, quantum imaging is being developed to assess brain health and detect early signs of diseases such as dementia.
According to Tom Grinyer, CEO of the Institute of Physics, quantum technology could change the world as profoundly as artificial intelligence or the internet.
He emphasized that the UK must not fall behind and the government needs to prioritize the development of quantum technology on par with AI, data, and green energy. Grinyer warned that without investment, other countries will surpass in the future quantum technology race.
The takeover of British quantum companies by American corporations has also increased government interest. Recently, the acquisition of Oxford Ionics and the quantum computing division of Oxford Instruments was announced.
The Minister of Science, Lord Patrick Vallance, also emphasized the importance of supporting domestic science and technology businesses to develop independently.
Richard Murray, co-founder and CEO of Orca Computing, a quantum machine manufacturer, stated that government funding for quantum technology is crucial to maintaining strategic control in this field.
He noted that the global race for quantum computing is at a critical stage. Many countries have spent hundreds of millions of dollars to maintain their position in this emerging technology market.
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