UK Announces Four Quantum-Tech Hubs
The universities of Oxford, Birmingham, York and Glasgow have been named as the primary locations for the investment, which amounts to £120 million ($189 million). Overall, 17 higher-education institutions and 132 companies will be involved in the program. The money comes from a larger £270 million ($425 million) investment in quantum technologies, announced by UK chancellor of the exchequer George Osborne in his 2013 Autumn Statement.
Quantum technology is a relatively new area of physics and engineering, which explores the more esoteric and surreal aspects of quantum mechanics.
The investment's aim is to ensure the transfer of quantum technology from theory into practical industry usage. Each "hub" has its own objective - Oxford, for example, will aim to build the Q20:20 quantum computer through its Hub for Networked Quantum Information Technologies (NQIT) and coordinate research on quantum simulation. Birmingham will focus its attention on quantum sensing and metrology, Glasgow on imaging, and York on quantum communications.
"Realizing the potential of quantum technologies is a significant scientific and engineering challenge," says Professor Koen Lamberts, vice-chancellor at the University of York said. "York's expertise in quantum communications across disciplines ─ including computer science, mathematics and physics ─ is at the heart of a unique and exceptionally strong partnership that will drive the hub towards its objective of exploiting excellent research to support UK industry and business."
Applications of quantum technology, outside of the raw computing power of such machines, include development of machine learning and highly secure communications networks.
"Quantum computing will enable users to solve problems that are completely intractable on conventional supercomputers," says said Professor Ian Walmsley, of Oxford University's department of physics and NQIT's director. "Meanwhile, quantum simulation provides a way to understand and predict the properties of complex systems like advanced new materials or drugs, by using a quantum device to mimic the system under study."
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Deutsche Börse invests $200M in Kraken, DTCC advances cloud strategy, and more
A recap of this week’s major tech and data news in the capital markets.
Waters Wavelength Ep. 350: AI but make it about data basics
This week, Tony and Shen discuss how it’s all about getting back to basics, aka the data.
Model risk in the age of generative AI
Banks are racing to understand the risks posed by a new breed of multi-purpose bots.
Morgan Stanley participating in Anthropic’s Claude Mythos testing
The bank is one of the select few granted access to the hyperscaler’s latest model.
The rise of AI politics
Whether they like it or not, firms are operating in the era of AI politics. David Hardoon says those who ignore that and treat AI as just another technology risk losing ground to others.
How banks are utilizing new AI forms in their KYC process
Execs from JP Morgan, ING, and Standard Chartered explain how they are looking to use agentic AI to streamline KYC workflows.
SmartTrade eyes role as direct streaming linchpin
The vendor plans to tap into growing demand for direct API trading solutions across asset classes.
Blue water rafting: How RBC’s AI Group is navigating the AI rapids
After forming its new AI Group, RBC is building a governance layer to help minimize risks posed by agentic AI.