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
Examining Google’s jump into financial research with enterprise Gemini
Google partners like Deutsche Bank and FactSet are using the offering to augment their own AI strategies.
SIX is preparing its data for clients that aren’t people
The Swiss exchange operator is betting that context and lineage will keep its market data relevant if AI agents become primary data consumers.
Barclays built a system to spot AI agents that might go rogue
Research setup ‘reads the mind’ of LLM-based agents and flags if they’re about to do something risky
AI assistants for human overseers? Or human checks and balances for AI actors?
The Waters Wrap: Speakers at a recent Bloomberg event emphasized the importance of keeping a human in the AI loop—but, Max asks, for how long?
CME marks cloud migration milestones, new FIX guidance for brokers, and more
The Waters Cooler: A recap of the major tech and data news from the past week in the capital markets.
How Quoniam boosted its sentiment strategy by adding an LLM
The asset manager’s upgraded system creates scores from more-informative forward-looking parts of news.
Northern Trust Asset Management turns ESG data into investable alpha
NTAM’s sustainability specialists and quant team collaborate to turn fragmented ESG inputs into investable factors.
AI regulation: Who’s responsible for eliminating ‘gray areas’?
The Waters Wrap: In light of the Hugging Face hack and similar incidents involving rogue AI agents, Anthony wonders whether industry regulators will take the reins.