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
Citi reveals Custody+, AI API security scare, 23/5 trading in Canada, and more
The Waters Cooler: A recap of the major tech and data news from the past week in the capital markets.
API security flaw highlights AI model vulnerabilities
Researchers uncover a way to make weaker AI models reveal the hidden reasoning of more powerful systems.
On vibe coding, no/low-code dev, and some potential misconceptions
The Waters Wrap: Is no-code/low-code even a thing anymore? Not really. But the companies that championed those terms just a few years ago tell Anthony they aren’t going anywhere.
Repo tokens won’t be cleared. Or will they?
Uncertainty lingers over clearing status of tokenized Treasuries, with decision likely devolved to DTCC.
AI startups get big-name investors, SEC denies 24X’s exemption request, and more
The Waters Cooler: A recap of the major tech and data news from the past week in the capital markets.
Rapid-fire repo raises hopes of cheaper, faster trading
Tokenized Treasuries piloted by DTCC could squash settlement cycles and enable 24/7 repo.
Stopgaps and fail-safes: How trading vendors guard against rogue AI agents
TradeStation’s newest trading tool, Titan-X, uses agentic tools to help plan, execute, and collect data on trades.
A rookie’s guide to tokenized Treasuries
What are DTCC’s digital US government debt securities? How do tokenized repo and other transactions work? These questions, and others, answered.