Chancellor Rachel Reeves and Technology Secretary Liz Kendall will today unveil a pioneering programme into Quantum technology worth up to £2billion of government investment
The Department for Science, Innovation and Technology said the tech will transform the country’s ability to diagnose and treat medical conditions (Image: Getty Images)
Computers powered by a new highly powerful and developing technology could deliver new cures for diseases or tools to safeguard our national security.
Chancellor Rachel Reeves will today unveil a pioneering programme into Quantum technology worth up to 2billion of government investment.
In the annual Mais economic lecture on Tuesday, Ms Reeves will say the UK will “achieve the fastest AI adoption in the G7” as she sets out the three biggest opportunities for economic growth in the UK.
She is expected to say: “Today, I am making three big choices on the greatest growth opportunities for Britain in the decade to come: growth in every part of Britain, AI and innovation, and a deeper relationship with the EU. Our plan is clear. To build for growth, to champion innovation, and to make Britain the place where the industries of the future are created.”
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Her tech package includes the launch of a £500m sovereign AI fund, which will give British companies access to funding and other support to compete and succeed globally.
And a record £2bn investment will be used to buy a large scale quantum computer by the early 2030s. Ms Kendall said the powerful computers are able to do a task that would normally take thousands of years in a couple of minutes
The Technology Secretary told the Mirror: “I want Britain to lead the world. I want us to create the jobs here, create the wealth here, and create the scientific discoveries that will help make people’s lives better.
“We’re taking a big bet on the future. We’re putting the money in. We’re saying we’re going to back our British companies, because we do not want to lose out when we’ve got some of the best people in the world. We believe this technology will deliver jobs growth and scientific discoveries like drugs that will help make people’s lives better.”
Ms Kendall insisted the UK is already “setting the standards” on Quantum to make sure it “doesn’t have any errors or mistakes”.
Ministers believe Quantum will be the next “great generational leap” and will rival artificial intelligence (AI) as the defining technology of the future.
The tech uses the principles of quantum mechanics and physics to process information at a speed that is impossible with traditional computing.
The UK has today become the first country in the world to commit to developing and rolling out large-scale Quantum computers in the next 10 years, the government said.
More than £1billion has been announced for leading companies and researchers to invest at scale in Quantum technology development, skills and facilities over the next four years.
This includes dedicated funding of £330m to ensure the UK is ready to accelerate innovations in medical diagnostics, greenhouse gas monitoring, and ultra-secure communications.
The Department for Science, Innovation and Technology said this will transform the country’s ability to diagnose and treat medical conditions like childhood epilepsy and potentially Alzheimer’s in the years to come.
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