Good morning, Archer recently attended the in-person Quantum Computing Summit held in London 22-23 September, which hosted leading quantum experts and companies from around the world. A number of key messages emerged from the Summit that we would like to share with you.
Quantum computing is not a ‘fast-follower’ industry
Technological challenges in developing quantum computing devices and IP with a global competitive advantage are two of the largest commercial barriers for industry entrants. To put this into context, in 2021, patents related to Archer’s 12CQ qubit processor chip were granted in Japan, South Korea, China, and the US, after almost 6 years of international prosecution.
The patents are supported by outcomes of years of R&D that is published in the most prestigious peer reviewed scientific journals in the world. Archer is one of a few companies with a patent portfolio protecting quantum computing qubit processor technology.
Value frameworks are emerging globally
There was a general consensus amongst attendees that the concept of ‘quantum readiness’ is now almost ubiquitous across the financial and tech sectors. Archer recently shared a report with you by Boston Consulting Group, which was disseminated by participants at the Summit, that estimates quantum computing could create value of US$450 billion to US$850 billion in the next 15 to 30 years, through hundreds of business use cases.
Quality of talent, not quantity
Human capital is just as important as the technology in the quantum computing ecosystem. The business of quantum is complex, the technology is not easily understood, and the technology development rests on the intellectual excellence of people with a particular set of skills. The talent shortage in the quantum computing industry affects small and large players alike. According to KPMG, talent risk is one of the top issues facing the broader semiconductor industry over the next three years.
Foundational knowledge of quantum is key to early adoption
IBM Quantum has put together world-class quantum computing educational materials and announced its Quantum Accelerator Program. Given how recent commercially-available quantum computation arose, it is exciting to think how quantum might impact various industries and to prepare for a ‘quantum future’.
There are currently over 20 quantum computers available through the IBM Quantum Cloud, supporting over 150 organisations within the global IBM Quantum Network, including Archer as a member. There are now 350,000+ users of IBM quantum hardware, implementing over 2 billion quantum circuits daily.
The UK is committed to quantum computing
The UK is demonstrating its commitment to quantum computing through its National Quantum Technologies Program. The level of financial commitment by the UK government is set to increase substantially with the creation of the National Quantum Computing Centre, bringing together funding from the UKRI’s Engineering and Physical Sciences Research Council and the Science and Technology Facilities Council. The National Physical Laboratory, the UK’s leading standards and technology institute, also announced a support package for quantum start-ups based in the UK – offered by NPL free of charge for UK based start-ups and research groups.
Archer intends to attend the upcoming Quantum Computing Summit in early November 2021 in Silicon Valley, USA, and I look forward to updating you on Archer’s involvement in the quantum computing industry.
Dr Mohammad Choucair, FRACI FRSN GAICD
Chief Executive Officer
Archer Materials Limited (ASX:AXE)