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According to Academy Reports, quantum technology might lead to economic benefits for the UK – Investor Bytes
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According to Academy Reports, quantum technology might lead to economic benefits for the UK

According to a research released today by the Royal Academy of Engineering, the UK is well-positioned to deploy its distinctive expertise and commercial knowhow in key areas of quantum technology that might benefit its future economy. Along with silicon photonics, compound semiconductors, and superconductors, the assessment identifies a number of fields as major priority for future funding, including synthetic diamond.

Web Desk by Web Desk
June 21, 2024
in Tech
0
According to Academy Reports, quantum technology might lead to economic benefits for the UK

According to a research released today by the Royal Academy of Engineering, the UK is well-positioned to deploy its distinctive expertise and commercial knowhow in key areas of quantum technology that might benefit its future economy. Along with silicon photonics, compound semiconductors, and superconductors, the assessment identifies a number of fields as major priority for future funding, including synthetic diamond.

Six suggestions are made by the independent Quantum Infrastructure Review regarding how the government could help the UK’s developing quantum industry and raise its prospects for success in the future.

Compound semiconductors, which already make up 20% of the worldwide chip industry and are growing due to electrification, net zero technologies, telecommunications, and self-driving cars, are an area in which the UK is especially well-positioned to lead. Building on the UK’s extensive experience in compound semiconductors, there is now a clear chance to investigate new materials for quantum applications.

The study states that with very few expenditure, British research in silicon photonics for quantum might be expanded to our advantage thanks to well-established knowledge in institutions throughout the nation. Large corporations specializing in telecommunications and artificial intelligence are making significant investments in silicon photonics, which is expanding rapidly on a global scale.

The UK possesses extensive knowledge in creating diamonds with the required molecular structure for use in quantum computing and magnetic sensing, and it has established strong academic and commercial partnerships to promote this rapidly developing field of technology. The evaluation highlights diamond for quantum as a possible area for the UK to exploit in the medium term since it has not yet been widely commercialized and open-access foundries for synthetic diamond for quantum applications have just recently started to appear.

Superconductors’ low electrical resistance makes them valuable for quantum sensing, communication, and computation. Although there is currently no commercial capability in the UK, huge multinational firms’ protective measures, especially in the area of quantum computing, might make it difficult for startups and SMEs to acquire this technology. An open-access platform could assist them overcome these obstacles.

Since many of the present facilities are housed in universities, the evaluation at the very least suggests that the UK enhance and improve industrial access to the country’s existing infrastructure. This criterion is especially important for the several stages of technology development that support the majority of quantum technologies, including packaging, advanced packaging, design, nanofabrication prototype, and heterogeneous integration.

Furthermore, the Academy’s study suggests:

Improved industry collaboration and assistance in managing the rapidly evolving quantum ecosystem in the UK, including infrastructure.

strengthening the UK’s capacity for sophisticated manufacturing, which would be advantageous for industries other than quantum computing.

cooperation between government, business, and academia to clarify the path for quantum technologies and support strategic choices made by public and private organizations.

Developments in areas that facilitate responsible, ethical, and sustainable innovation, such as the supply of talents and the norms and laws that support it.

“The UK has been a frontrunner in quantum technology development to date, but other nations are investing heavily in their own quantum national strategies and infrastructure,” states Dr. Dame Frances Saunders DBE CB FREng, who headed the working committee that conducted the evaluation. We must now decide whether and how to maintain our position as leaders in the development and application of quantum technology.

“Government support is crucial to de-risk the technology development process, facilitate its adoption and commercialization, and attract investment from the private sector. The infrastructure needed is often beyond the scale of academic facilities or reach of SMEs.” There is a great chance that nations making large investments of their own in quantum will overtake us if government action is not taken now.

“The UK has pioneered a world-leading quantum technology program for the past 10 years and this has evolved to an ambitious future strategy to generate economic and societal value from this great science base,” states Sir Peter Knight FRS, Chair of the UK National Quantum Technology Programme Strategic Advisory Board. In order to make this happen, we’ll need a well-coordinated strategy for facilities, interdependencies, infrastructure, and supply chains that will enable the scaling up of this cutting-edge technology. This Royal Academy of Engineering paper proposes critical steps to boost the UK program by calling on a broad variety of business and research experts. I applaud your well-considered study, which will support our planning in implementing our quantum strategy.

Source: thequantuminsider
Tags: Academy Reportseconomic benefits

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