- $151.25M investment to advance quantum research and tackle financial crime in the UK.
- Funding aims to boost innovation in sectors like healthcare, cybersecurity, and economic security.
What happened: UK invests $151.25M in quantum tech
In a major step towards securing the UK’s leadership in emerging technologies, the government has announced a $151.25M investment in quantum technology. This funding comes on World Quantum Day, celebrated on April 14, and is set to accelerate national efforts in quantum research and development. The investment will focus on harnessing quantum tools to address critical issues such as financial crime, including fraud and money laundering, which costs the UK economy billions annually.
Key partnerships are already underway, including an initiative between HSBC and the National Quantum Computing Centre (NQCC) to explore how quantum computing could detect early signs of illicit financial activities. Quantum technology is expected to significantly improve the security of financial systems by analysing complex datasets faster and more efficiently than current technologies allow.
Also read: UK’s first long-distance quantum network demonstrated
Also read: Finland launches Europe’s first 50-Qubit quantum computer
Why it’s important
Quantum technologies offer the potential to revolutionise how we detect and prevent financial crime. More advanced analytical tools are urgently needed, as fraud and money laundering cost the UK economy an estimated £2.6B each year. By supporting projects that use quantum systems to spot suspicious patterns in huge volumes of financial data, the investment directly supports stronger protections for consumers and businesses.
Beyond the financial sector, this funding signals the UK’s long-term commitment to innovation-led growth. It is expected to create high-skilled jobs, support start-ups, and accelerate the commercial rollout of quantum tools in areas like healthcare, energy, and cybersecurity. With dedicated support for research hubs, fellowships, and apprenticeships, the initiative also aims to build a strong talent pipeline and ensure the UK remains globally competitive in the race for quantum innovation.
