How can the UK capitalise on the quantum opportunity?
Quantum computing is no longer a far-off dream; it's a rapidly approaching reality with the potential to revolutionize industries and address some of the world's most pressing challenges. At Fujitsu, we believe in the transformative power of quantum computing, and we're actively investing in its development. The potential benefits, from creating new materials for improved carbon capture to developing novel drugs and more resilient financial planning, are immense.
And we're not alone in this belief. McKinsey estimates the market potential of quantum computing to be at least $28 billion by 2030, potentially reaching up to $72 billion. This valuation is grounded in research into quantum use cases, revealing significant computational advantages. Quantum algorithms promise to drastically improve efficiency in areas like modelling and optimization, particularly when dealing with quantum mechanical systems – hence the excitement surrounding materials science and drug discovery.
The early adopter advantage
Just as we've witnessed with AI in recent years, early adopters of quantum technology stand to reap substantial rewards. The opportunity cost of missing out on this wave of innovation could be significant for certain sectors.
Fujitsu's approach: Preparing for the quantum future
At Fujitsu, we're dedicated to helping our customers understand and prepare for the quantum era. Our quantum value assessment is a consulting-led, workshop-based offering designed to identify business problems and computational bottlenecks. We then work with our clients to determine the optimal solution, whether it's quantum computing, quantum-inspired computing, or another approach altogether.
Our expertise in computation is built on a strong foundation in high-performance computing. We've developed world-leading supercomputers like Fugaku, which topped the TOP500 list in 2020 and continues to rank among the top 10, while also achieving top 10 status on the Green500 list.
Recognizing quantum computing as the future of computation, we began investing in this field in 2017 with the development of our quantum-inspired annealing technology, the Digital Annealer. This technology tackles optimization problems in a manner similar to quantum computers, enabling customers to develop solutions that offer speedups today while ensuring a smooth transition to full quantum advantage in the future.
Our quantum computing hardware research began in 2019, and we're currently funding research into two distinct hardware platforms:
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Our 64-qubit quantum computer at the RIKEN Institute in Japan.
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Research into diamond spin qubits at TU Delft.
Furthermore, we have research groups focused on error correction algorithms, such as our STAR (Space-Time Efficient Analog Rotations) architecture platform in Japan. We also have applications research groups around the world, working on financial modelling, materials science, and quantum chemistry.
The UK's quantum opportunity
So, how can the UK specifically capitalize on the quantum opportunity? The UK already boasts significant strengths, including world-leading university research, the UK National Quantum Strategy, and initiatives like the UK Responsible Quantum Industry Forum, the first group globally to consider the ethical requirements of this emerging technology. Building upon these foundations is key.
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Encourage curiosity: Workshop activities such as the quantum value assessment can help a business engage with and explore the opportunity quantum technologies present. These activities are an early investment in internal programs to educate their employees about quantum computing.
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Early adoption: Work with industry and academic partners to identify “quantum-ready” use cases and where possible experiment with early quantum or quantum-inspired technologies.
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Collaboration: Businesses should attend events and conferences to meet and engage with the quantum technologies community. Joining industry consortia and initiatives can also be a great way to become embedded in this budding industry.
Fujitsu is deeply committed to quantum computing and dedicated to helping our customers unlock its value. By working together, we can all capitalize on quantum technologies for the betterment of society.