On World Quantum Day, the UK government announced a £121 million investment to enhance its position as a leader in quantum technologies. This funding, part of the National Quantum Technologies Program, emphasizes supporting early-stage research for applications in sectors such as quantum health and cybersecurity. While the investment aims to ignite practical advancements, it pales in comparison to the US funding of $2.7 billion for similar initiatives. The investment aims to foster innovation, illustrated by HSBC's cooperation with government-backed institutions to utilize quantum technology in identifying money laundering patterns.
The UK is home to the second largest community of quantum businesses in the world and this investment means they can go further paving the way for new quantum tools and products that make our lives easier, fuel growth, and help us tackle the great challenges of our era.
As part of the government's much-vaunted Plan for Change announced last year, this move is to "further secure the UK's position as a world leader in quantum" as part of the government's long-term commitment to the sector.
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