Spending on quantum computing set to triple by 2024
A new survey suggests that investment in quantum computing is set to sky rocket in the next five years.
Research based on a survey of more than 100 businesses by CBI and Accenture uncovered enterprise firm’s spending intentions on emerging technologies including AI and blockchain and quantum computing.
Results from the survey suggest that the UK will see the current 11 per cent of firms investing in quantum computing jump to 32 per cent in five years.
“As we move from research to reality, investment in quantum computing is set to leap threefold, and could make possible experiments that are currently too costly and impractical,” said Felicity Burch, CBI Director of Digital and Innovation.
“While the UK’s regulatory framework is a strength, ongoing political uncertainty risks stifling innovation and undermining business investment in technology, jeopardising investments that could be worth billions of pounds.
Burch said the current political uncertainty risks stifling innovation and undermining business investment in technology.
“If firms are to continue developing the technology behind quantum computing, robotics and AI in the UK – ending political instability will go a long way to unlocking investment.”
Zahra Bahrololoumi, senior managing director and lead for Accenture Technology UK & Ireland added: “Tech adoption for tech’s sake often yields limited results or value.
“To make the most of their investment, businesses need to leverage technology, talent and be aligned with business objectives and outcomes. By adopting this approach, they can build an agile system to support the new tech that it needs to thrive not just now but also in the future.”