Archer Materials became the first Australian company to partner with the World Economic Forum’s Centre for the Fourth Industrial Revolution last year.
An aim of the partnership was to open collaborative opportunities for Archer. The World Economic Forum’s annual meeting in Davos, Switzerland, saw the partnership in action, including the publishing of research and white papers on the future of the global economy to guide industry and governments.
Archer contributed to some of these strategic white papers and research pieces, such as The Quantum Economy Blueprint that help lead the world into a fair quantum ecosystem, and research on how to protect global value chains from disruptions.
The Quantum Economy Blueprint
The next evolution of computing, quantum, will be far reaching across multiple industries. It will advance industry with its capability to solve problems which modern computers just cannot do.
It is important to start preparing for the coming quantum economy, because if it is not addressed by nations at the outset, it could create a ‘quantum divide’ – part of the world’s population being left behind because they do not have access to this kind of technology. A framework of what the quantum economy will look like and how it will function responsibly is required to address this foreseeable divide.
This is why Archer took part in the development of the World Economic Forum’s Quantum Economy Blueprint. The blueprint aims to help governments, policy-makers, and industry to create their own blueprint for a quantum economy that promotes growth, job creation, economic security, and people’s privacy, through several themes and building blocks. The blueprint also delves into how it could work in practice and best approaches.
Archer’s technology will be a key part in the quantum economy as it would potentially provide the means for people to use quantum on their electronic devices across multiple industries. Therefore, it is important that Archer is active in its contribution to The Quantum Economy Blueprint.
Quantum Security for the Financial Sector
Quantum computing will bring on new forms of growth and development for society, but this frontier has some risk. This includes cybersecurity, particularly in industries such as the financial sector.
Many current encryption schemes will be rendered obsolete in the face of quantum, as quantum has the power and capability to generate random numbers and to break down encryption codes.
The World Economic Forum, in collaboration with the Financial Conduct Authority, has developed a white paper called ‘Quantum Security for the Financial Sector: Informing Global Regulatory Approaches’.
The white paper aims to open dialogue between regulatory authorities and industry to prepare for the coming threat by outlining guiding principles.
Society needs to act on this now, as quantum will be in electronic devices that carry sensitive financial information and accounts.
5 trends set to shape the next generation of global value chains
Global supply chain disruptions continue to happen for various reasons including geopolitical tensions, inflation, labour shortages, and cyber-risks, to name a few. This means organisations must shore up and protect their supply chains in the face of these risks, to create resilience and adapt to problems.
In collaboration with the World Economic Forum, and Kearney, Archer engaged in the Global Value Chains Initiative, exploring the actions organisations are currently taking to shape the next generation of global value chains.
Organisations that will use quantum need to consider how their use of the technology can affect their global value chains in the context of these associated risks, and how they could use quantum technologies to protect those value chains.
Dr Mohammad Choucair, FRACI FRSN GAICD
Chief Executive Officer
Archer Materials Limited (ASX: AXE)
Designed by Aaron Knight.