Government announces range of investments totalling £121m in new quantum technologies aimed at tackling crime
To coincide with World Quantum Day, the government has announced a range of support of research into quantum technology. This tech makes use of the unusual properties of the smallest particles of matter to build ultra-powerful sensors and computers that can analyse complex data and detect subtle patterns.
Photo by FlyD / Unsplash
Such technology is already being used to tackle fraud, which costs the UK economy and estimated £2.6bn every year. Specialists at HSBC bank have been working with the National Quantum Computing Centre (NQCC) and other government-backed partners develop ways of using quantum to detect and prevent money-laundering.
Of the newly announced funding, some £21m is being allocated to the NQCC to advance its work, including a testbed programme being undertaken with Innovate UK with support from the Quantum Software Lab to accelerate the discovery of more ways that quantum can solve problems and improve the how we work.
A further £46.1m will be allocated through Innovate UK to accelerate the deployment of quantum technology across a range of sectors including computing, networking, sensing and position, navigation and timing (PNT).
The National Physical Laboratory’s quantum measurement programme will receive £10.9m to support efforts to encourage more businesses to make full use of the new technology.
The £121m total to be investment over the next year includes £23.6m from EPSRC previously announced. The government says this supports its wider Plan for Change to boost the economy and its commitment to ensuring that the UK is a world-leader in quantum. The funding is also aligned to the national quantum technologies programme, which aims to back early-stage research in the lab through to getting new quantum technologies out to the market.
Peter Kyle MP, Secretary of State for Science and Technology, says: ‘Quantum – manipulating the universe at its smallest scale – has the potential to save millions for our economy, create thousands of jobs and improve businesses across the country [by] stopping fraudsters in their tracks, protecting our bank accounts and more. Backing our world-class quantum researchers and businesses is an important part of our Plan for Change.
‘The UK is home to the second largest community of quantum businesses in the world and this investment means they can go further paving the way for new quantum tools and products that make our lives easier, fuel growth and help us tackle the great challenges of our era.’
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