How can the UK facilitate the commercialisation of Quantum & Photonics technologies?
It is an interesting time for the complicated world of Quantum right now. There has never been more focus or attention on the Quantum industry than currently, and there has been a marked increase in interest in the technology both from the private and public sector than ever before.
Announcements from huge incumbents like Microsoft, Google, and Nvidia have driven media engagement, while geopolitical turmoil and uncertainty across the world has Western governments pushing hard on Quantum focused initiatives.
Although awareness and interest in the industry is growing at pace, the main challenge facing the eco-system remains: how do we commercialise?
Ultimately, we may be closer to revenue generation within Quantum than we realise – Quantum Sensing, for example, will soon probably just become “Sensing” and it might not be long before we see British companies such as Cerca Magnetics, QLM, Delta-G, Aquark and others deploying at scale. Quantum Computing and Communications may be slightly behind, but what it really comes down to is getting large scale British incumbents to take significant strides in investing in this nascent technology that the UK absolutely excels in. The UK government and its Quantum eco-system have a vital role to play in convincing and incentivising these large companies to start becoming early adopters.
The government is crucial as a procurer and an off-taker, but the government can only feasibly do so much. What is of critical importance is helping companies like BP, GSK, Astra Zeneca, BAE Systems, Lloyds, Glencore, Anglo American etc. that Quantum is not just another tech vertical that could lead to outsized profits, but rather an underpinning and enabling tech horizontal that will not only enable all other industries but is also of the utmost importance to National Security (and will lead to outsized profits).
It is imperative we help the private sector understand that there is more at stake than simply growing a new tech eco-system – they need to be part of a national effort to consolidate our future as a leading tech nation with a willingness to invest in all three quantum sectors. The best way to secure our quantum industry is with the opportunity to test and develop it in commercial settings. The profits will follow, they will – but British companies need to be willing to help the government in assuming the risk of supporting this new industry to help secure our future. The use cases for Quantum are overwhelmingly commercial, in terms of drug discovery, discovering new advanced materials, rare earth mining, cyber security, logistics and more. On the other hand, if Quantum sensors can detect rare earth deposits on the seabed, they can likely also be used to detect our nuclear submarines from vast distances. If PQC can help secure our National Grid from being hacked, it can also be used to compromise it.
Investing in quantum now is about more than future profits (again, they will follow), but about safeguarding a UK industry that will play a huge role in the protection of the country and its allies, as well as turbocharging economic growth and productivity. An Oxford Economics report indicates that widespread adoptions of quantum computing could boost economic productivity by 8% by 2040 (adding £200bn to GDP).
Take Novo Nordisk for example – they have, while working very closely with the Danish government, invested hundreds of millions of euros in their own Quantum Computing Program (NNQCP). This is a huge risk, and an expensive bet, on a technology that isn’t quite there. Yet, Novo have done this for two reasons:
- They have the vision to understand that Quantum will exponentially grow their profits by significantly speeding up drug discovery and development (Ozempic/Wegovy took more than 10 years and billions of euros to develop due to the highly complicated and expensive nature of molecular simulation)
- They inherently recognise that Denmark’s geopolitical place in the future is intrinsically linked to its capabilities within quantum
Novo are not investing directly in quantum companies, equipment, services, and products out of the kindness of their hearts, they are doing it because they understand that their own future success is connected to that of their home country.
It is an enormous ask to try and convince companies to invest significant sums of money in a risky technology, but the UKs strong and varied private sector has an unrivalled opportunity to reap the rewards of early adoption in a tech sector that will completely change the way we understand and use technology in our society. How we convince these companies that it is in their interest will be up to the policymakers and the quantum companies, but the development of the UK eco-system could be substantially brought forward if there was a national effort from the private sector to make it happen.
The road to commercial success and profits is being paved, and this is not a matter of charity either – rather a matter of patience and betting on British brilliance.
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