UK Research and Innovation Initiative to Invest £153M in Quantum Tech which will Significantly Impact Financial Services
The UK government, via the
UK Research and Innovation (UKRI), is planning to invest £153 million, in order to create new products and services that are based on recent advancements in quantum technologies.
Quantum tech is expected to have a major impact on the financial services sector.
This is notably part of a larger investment in the United Kingdom’s National Quantum Technologies Program which is set to provide £1 billion worth of investments over a 10-year period.
Large banking institutions, insurance service providers and regulatory agencies are currently assessing the different opportunities and advising their clients on quantum computers for quantitative finance, asset pricing and effective portfolio management.