Making the UK quantum competitive

The sums being invested into quantum are significant. The UK’s National Quantum Strategy envisions US$3 billion in investment over 10 years. Germany plans to invest more than US$3 billion by 2026. France is putting up US$2 billion. The US has funded its National Quantum Initiative Act with US$1.2 billion. China is thought to be investing more than US$15 billion.

It’s not just national governments and agencies pouring capital into quantum. Private investors, corporations and tech companies are all making significant bets on the technology. So, too, are the bad actors – hackers, state sponsored players and black-listed governments, amongst others. Many believe that the technology will have the power to unlock existing cryptology and cyber security defences. And they are pouring capital in to protect their data and unlock that of their adversaries.

Not surprisingly, regulators and standard setters have stepped up to fill the void and bring some oversight to the sector. The UK regulator – the Information Commissioner’s Office (ICO) – is currently horizon-scanning to understand how and how much to regulate. The British Standards Institution (BSI) is working with 22 other countries on the Joint Technical Committee to prioritise efforts in this area. And there are a number of respected forums – like the Westminster Forum Project – focused on bringing stakeholders together to drive positive outcomes for the people of the UK.

Regulation and standardisation are critically important, particularly when applied to new and emerging technologies. Regulation is key to ensuring UK residents have safe, reliable and equal access to new technologies, while standardisation enables new technologies to be more accessible, efficient and usable. Yet, all too often, regulation and standardisation trails innovation. It is a good sign therefore that – with quantum – regulators and standard setters are working to get out ahead. 

The problem is that quantum computing has become an asymmetric race where leaders are advancing exponentially and the laggards are falling further and further behind. And what is becoming increasingly clear is that the race is not being won by those markets that are the best regulated or most standardised. It’s being won by those investing the most capital, tapping the most talent and commercialising their innovations the fastest. Some are our trading partners and allies. Others are not.

The big question is whether the UK is at risk of falling behind. With some of the leading academic centres in the world, we are already a Top Five centre of tech innovation. We have strong rule of law, supportive regulatory regimes and a penchant for standardisation. We are home to innovative companies and burgeoning tech ecosystems. In many respects, the UK finds itself in a strong position to encourage quantum.

Yet, in many ways, we have much room for improvement. We do not attract nearly enough investment – public or private – into our quantum computing innovation ecosystem versus the likes of China or the US. We struggle to keep our top talent (particularly tech talent) within our borders. And our track record for commercialising the technologies we discover and develop is lacking.

We have little time to waste. All signs suggest that quantum computing will take the same path as AI: it took more than a century for anything really exciting to happen there but once it did, it set off a fierce competition with massive implications for businesses, government and society. 

I fully support the UK’s efforts to regulate, standardise and fund home-grown quantum computing capabilities and innovations. But I would argue that – with equal effort and dedication – we must also double our focus on attracting investment capital, retaining talent and encouraging commercialisation.

Quantum computing will unlock massive opportunities – if not for us, then for our global competitors and adversaries. And, as our recent Westminster eForum session illustrated, the quantum opportunity is here. The UK needs to seize it.