{"id":12929,"date":"2023-05-11T14:01:48","date_gmt":"2023-05-11T14:01:48","guid":{"rendered":"http:\/\/TheNextWeb=1396275"},"modified":"2023-05-11T14:01:48","modified_gmt":"2023-05-11T14:01:48","slug":"europes-precarious-path-to-quantum-computing-supremacy","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=12929","title":{"rendered":"Europe\u2019s precarious path to quantum computing supremacy"},"content":{"rendered":"\n<p><em>This article features an interview with Joe Fitzsimons, the CEO and founder of&nbsp;Horizon Quantum Computing. At&nbsp;TNW Conference&nbsp;on&nbsp;June 16,&nbsp;Fitzsimons will be speaking at a session titled, \u201cIs quantum computing the future of finance?\u201d <\/em><em>To check out the talk \u2014 and all the other action at Europe\u2019s leading tech festival \u2014 you can&nbsp;<a href=\"https:\/\/thenextweb.com\/conference\/tickets\" target=\"_blank\" rel=\"noopener noreferrer\">get a ticket here<\/a>.<\/em><\/p>\n<p>Quantum computing is fiendishly complicated to commercialise. Despite claims that it will <a href=\"https:\/\/www.mckinsey.com\/capabilities\/mckinsey-digital\/our-insights\/quantum-computing-just-might-save-the-planet\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">save the planet<\/a> and <a href=\"https:\/\/www.businesswire.com\/news\/home\/20221014005367\/en\/Cancer-to-Be-Treated-as-Easily-as-Common-Cold-When-Humans-Crack-Quantum-Computing\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">cure cancer<\/a>, real-world applications are yet to emerge from the hype.<\/p>\n<p>For <a href=\"https:\/\/thenextweb.com\/topic\/startups\" target=\"_blank\" rel=\"noopener noreferrer\">startups<\/a>, this offers both promise and peril. Ominously, any practical use cases may not emerge for years \u2014 if at all. But when they do emerge, the potential applications and revenues are unimaginable \u2014 and untapped.<\/p>\n<p><span>With untold riches beckoning, budding leaders in the sector are prepared to play the long game.<\/span><\/p>\n<div class=\"inarticle-wrapper channel-cta\">\n<div class=\"ica-text\" readability=\"0\"><a href=\"https:\/\/thenextweb.com\/conference\/tickets?utm_source=TNW+Media&amp;utm_medium=in-article-promo&amp;utm_campaign=in-article-promo-tickets\" data-event-category=\"Article\" data-event-action=\"In Article Block\" data-event-label=\"Less than 5 weeks until TNW Conference\" target=\"_blank\" readability=\"4\" rel=\"noopener noreferrer\"><\/p>\n<p class=\"ica-text__title\">Less than 5 weeks until TNW Conference<\/p>\n<p>Don&#8217;t miss your chance to be part of Europe&#8217;s leading tech event<\/p>\n<p><\/a><\/div>\n<\/div>\n<p><span>\u201cWith quantum computing, there\u2019s not a real-world advantage today,\u201d Joe Fitzsimons, CEO and founder of<a href=\"https:\/\/www.horizonquantum.com\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> Horizon Quantum Computing<\/a> tells TNW.<\/span><span> <\/span><\/p>\n<p><span>\u201cIt\u2019s a milestone that\u2019s coming \u2014 and hopefully, quite soon \u2014 but we still haven\u2019t reached that point. For everyone in the space, it\u2019s still about pushing technological progress as much as possible.\u201d<\/span><\/p>\n<p>Fitzsimons has been pushing this progress for his entire career. After baby steps into the <a href=\"https:\/\/thenextweb.com\/topic\/quantum\" target=\"_blank\" rel=\"noopener noreferrer\">quantum<\/a> realm at Oxford University, Fitzsimons moved to Singapore for a stint in quantum research, before pivoting from academia to industry.<\/p>\n<figure class=\"post-image post-mediaBleed aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-1396279 js-lazy\" src=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048.jpg\" alt=\"Fitzsimons (right) and Si-Hui Tan, Chief Science Officer at Horizon Quantum Computing\" width=\"1640\" height=\"1093\" sizes=\"(max-width: 1640px) 100vw, 1640px\" data-srcset=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048.jpg 1640w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048-280x187.jpg 280w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048-203x135.jpg 203w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048-405x270.jpg 405w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048-1536x1024.jpg 1536w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048-796x531.jpg 796w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048-1592x1061.jpg 1592w\"><figcaption><a href=\"https:\/\/thenextweb.com\/news\/quantum-computing-in-europe-future#\" data-url=\"https:\/\/twitter.com\/intent\/tweet?url=https%3A%2F%2Feditorial.thenextweb.com%2Fdeep-tech%2F2023%2F05%2F11%2Fquantum-computing-in-europe-future%2F&amp;via=thenextweb&amp;related=thenextweb&amp;text=Check out this picture on: Fitzsimons (right) and Si-Hui Tan, Chief Science Officer at Horizon Quantum Computing.\" data-title=\"Share Fitzsimons (right) and Si-Hui Tan, Chief Science Officer at Horizon Quantum Computing. on Twitter\" data-width=\"685\" data-height=\"500\" class=\"post-image-share popitup\" title=\"Share Fitzsimons (right) and Si-Hui Tan, Chief Science Officer at Horizon Quantum Computing. on Twitter\"><i class=\"icon icon--inline icon--twitter--dark\"><\/i><\/a>Fitzsimons (right) and Si-Hui Tan, Chief Science Officer at Horizon Quantum Computing.<\/figcaption><noscript><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-1396279\" src=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048.jpg\" alt=\"Fitzsimons (right) and Si-Hui Tan, Chief Science Officer at Horizon Quantum Computing\" width=\"1640\" height=\"1093\" srcset=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048.jpg 1640w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048-280x187.jpg 280w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048-203x135.jpg 203w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048-405x270.jpg 405w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048-1536x1024.jpg 1536w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048-796x531.jpg 796w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/642644733603a4231f860837_Series-A-Funding-Announcement-2048-1592x1061.jpg 1592w\"><\/noscript><\/figure>\n<p>In 2018, Fitzsimons founded Horizon. The startup is currently developing a system that automatically constructs quantum algorithms from classical code.<\/p>\n<p>In November, the company announced a major step in its mission to become a quantum computer powerhouse: its first&nbsp; European hub \u2014 and first office outside Singapore&nbsp;\u2014 will soon open <a href=\"https:\/\/www.horizonquantum.com\/news\/horizon-quantum-computing-announces-plans-for-european-expansion-with-an-office-in-ireland\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><span>in Dublin<\/span><\/a><span>. <\/span><\/p>\n<p><span>The expansion aims to tap the impressive talent and prospective customer base&nbsp;in Europe \u2014one of the world\u2019s major markets for <a href=\"https:\/\/thenextweb.com\/topic\/quantum-computers\" target=\"_blank\" rel=\"noopener noreferrer\">quantum computing<\/a>.<\/span><\/p>\n<p>Fitzsimons had numerous reasons for picking Europe \u2014 and Dublin \u2014 as the first stop on Horizon\u2019s global expansion. They include a propitious tech ecosystem, the ease of doing business, and supportive legal structures. But perhaps the biggest pull is the potential to plug the quantum talent gap.<\/p>\n<p><span>It\u2019s a major constraint on the sector. According to research by McKinsey, there\u2019s <\/span><a href=\"https:\/\/www.mckinsey.com\/capabilities\/mckinsey-digital\/our-insights\/quantum-computing-funding-remains-strong-but-talent-gap-raises-concern\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><span>only one qualified quantum candidate available for every three quantum job openings<\/span><\/a><span>. <\/span><span>By 2025, the consulting firm predicts that less than 50% of quantum computing jobs may be filled.<\/span><\/p>\n<p>Ireland offers a unique solution to this problem. An enticing tax regime <a href=\"https:\/\/www.cnbc.com\/2016\/08\/31\/why-silicon-valley-followed-apple-to-ireland-eventually.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">has attracted many<\/a> of Silicon Valley\u2019s biggest names to make the emerald isle their European home. Adding their influx to a young population that\u2019s among the world\u2019s <a href=\"https:\/\/www.irishtimes.com\/news\/social-affairs\/young-people-in-ireland-among-world-s-most-educated-1.4013671\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">most-educated<\/a>&nbsp;and a pioneering <a href=\"https:\/\/www.tcd.ie\/courses\/postgraduate\/courses\/quantum-science-and-technology-msc--pgraddip\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">quantum programme<\/a> at <span>Trinity College Dublin<\/span> has produced a deep pool of engineering talent.<\/p>\n<blockquote class=\"c-richText__pullQuote\" readability=\"29\">\n<div class=\"c-richText__pullQuoteGradient\" readability=\"32\">\n<p class=\"c-richText__pullQuoteQuote\">\u201cYou can hire from both the UK and the EU.<\/p>\n<\/p><\/div>\n<\/blockquote>\n<p>Since Brexit, Dublin\u2019s pipeline has only become more alluring. Ireland is now the biggest English-speaking country in the EU \u2014 and retains an incomparable connection to the UK.<\/p>\n<p><span>\u201cYou have the advantage of being able to hire both from the UK and from the EU, visa-free,\u201d says Fitzsimons. \u201cAnd that\u2019s really a big advantage, because quantum computing talent is spread out globally.\u201d<\/span><\/p>\n<p>In Europe, that talent has spread across a flourishing array of quantum computing leaders. They encompass <span>quantum internet experiments at <a href=\"https:\/\/www.delta.tudelft.nl\/article\/first-version-quantum-internet-making#\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">TU Delft<\/a><\/span> in the Netherlands; ion-trapping at Austria\u2019s <a href=\"https:\/\/www.aqt.eu\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">AQT<\/a>; <span>control systems<\/span><span> at <a href=\"https:\/\/www.zhinst.com\/europe\/en\/quantum-computing-systems\/qccs\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Zurich Instruments;<\/a>&nbsp;quantum algorithms at the UK\u2019s <a href=\"https:\/\/www.phasecraft.io\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Phasecraft<\/a>; dilution refrigerators <a href=\"https:\/\/bluefors.com\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">at BlueFors<\/a>&nbsp;in Helsinki;&nbsp;and quantum processing units at Finland\u2019s <a href=\"https:\/\/www.meetiqm.com\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">IQM Quantum Computers<\/a>. <\/span><\/p>\n<p><span>It\u2019s a formidable range of pioneers, but they still have immense barriers to hurdle.<\/span><\/p>\n<p><span> Across the globe, quantum computing startups face a range of challenges, from <a href=\"https:\/\/blogs.scientificamerican.com\/observations\/the-problem-with-quantum-computers\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">crippling computation errors<\/a> to <a href=\"https:\/\/www.purevpn.com\/blog\/quantum-computer-cost\/#:~:text=Now%20for%20the%20burning%20question,qubit%20in%20processing%20power%20%E2%80%93%20%2410%2C000.\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">eye-watering costs<\/a>. In Europe, some further obstacles have been thrown into the path to profitability<\/span><\/p>\n<p><span>One of the problems is ubiquitous across tech articles: <a href=\"https:\/\/pitchbook.com\/news\/articles\/europe-deep-tech-vc\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">access to late-stage capital<\/a>. While Europe is renowned for scientific research, it lacks the growth funding to develop global tech leaders.<\/span><\/p>\n<p>In quantum computing, the fundraising problem has an extra dimension: investors need to be unusually patient. In time, their rewards could be incredible. Analysts expect <a href=\"https:\/\/www.techopedia.com\/definition\/34023\/quantum-advantage\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">the quantum advantage<\/a> to extend <a href=\"https:\/\/www.marketwatch.com\/story\/quantum-computing-will-be-the-smartphone-of-the-2020s-says-bank-of-america-strategist-2019-12-12\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">across all aspects of society<\/a> \u2014 but it won\u2019t get there overnight.<\/p>\n<p><span>\u201cIt takes a lot of work, so you need patient capital,\u201d says Fitzsimons.<\/span><\/p>\n<figure class=\"post-image post-mediaBleed aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-1396278 js-lazy\" src=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/EzVIfb6Q-2.jpg\" alt=\"Joe Fitzsimons is the founder and CEO of Horizon Quantum Computing\" width=\"512\" height=\"512\" sizes=\"(max-width: 512px) 100vw, 512px\" data-srcset=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/EzVIfb6Q-2.jpg 512w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/EzVIfb6Q-2-210x210.jpg 210w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/EzVIfb6Q-2-135x135.jpg 135w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/EzVIfb6Q-2-96x96.jpg 96w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/EzVIfb6Q-2-270x270.jpg 270w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/EzVIfb6Q-2-192x192.jpg 192w\"><figcaption><a href=\"https:\/\/thenextweb.com\/news\/quantum-computing-in-europe-future#\" data-url=\"https:\/\/twitter.com\/intent\/tweet?url=https%3A%2F%2Feditorial.thenextweb.com%2Fdeep-tech%2F2023%2F05%2F11%2Fquantum-computing-in-europe-future%2F&amp;via=thenextweb&amp;related=thenextweb&amp;text=Check out this picture on: Fitzimons recently raised over $18m to expand Horizon\u2019s engineering team and accelerate product development.\" data-title=\"Share Fitzimons recently raised over $18m to expand Horizon\u2019s engineering team and accelerate product development. on Twitter\" data-width=\"685\" data-height=\"500\" class=\"post-image-share popitup\" title=\"Share Fitzimons recently raised over $18m to expand Horizon\u2019s engineering team and accelerate product development. on Twitter\"><i class=\"icon icon--inline icon--twitter--dark\"><\/i><\/a>Fitzimons recently <a href=\"https:\/\/www.reuters.com\/technology\/singapore-based-software-startup-horizon-quantum-computing-raises-181-mln-2023-03-31\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">raised over $18m<\/a> to expand Horizon\u2019s engineering team and accelerate product development.<\/figcaption><noscript><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-1396278\" src=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/EzVIfb6Q-2.jpg\" alt=\"Joe Fitzsimons is the founder and CEO of Horizon Quantum Computing\" width=\"512\" height=\"512\" srcset=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/EzVIfb6Q-2.jpg 512w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/EzVIfb6Q-2-210x210.jpg 210w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/EzVIfb6Q-2-135x135.jpg 135w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/EzVIfb6Q-2-96x96.jpg 96w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/EzVIfb6Q-2-270x270.jpg 270w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/05\/EzVIfb6Q-2-192x192.jpg 192w\"><\/noscript><\/figure>\n<p>Regrettably, funding isn\u2019t Europe\u2019s only shortcoming. A recent <a href=\"https:\/\/www.bcg.com\/publications\/2022\/can-europe-catch-up-in-quantum-computer-race\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">report by Boston Consulting Group (BCG)<\/a> highlighted three further issues: national siloes, a dearth of tech titans to consolidate the sector, and struggles turning academic talent into quantum professionals.<\/p>\n<p>To mitigate these issues, BCG advises the EU to foster a private sector that can scale, create business-oriented quantum talent, and <span>interconnect all of the bloc\u2019s quantum computing efforts.<\/span><\/p>\n<p>It\u2019s a daunting entreaty to EU leaders. In the <a href=\"https:\/\/news.mit.edu\/2023\/weird-weird-quantum-world-peter-shor-killian-lecture-0310\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">infamously weird<\/a> world of quantum computing, the impacts of investments are hard to predict. Nonetheless, Fitzsimons is confident that they\u2019ll pay off.<\/p>\n<p>\u201cEssentially, you\u2019re talking about what could be computing all over again \u2014 and the upside of that is tremendous.\u201d<\/p>\n<div readability=\"5.593023255814\">\n<div id=\"article-main-content\" class=\"c-richText c-richText--large\" readability=\"49.906976744186\">\n<p><i><span>Joe Fitzsimons is one of many tech luminaries speaking at TNW Conference on June 15-16. Tickets for the event <a href=\"https:\/\/thenextweb.com\/conference\/tickets\" target=\"_blank\" rel=\"noopener noreferrer\">are available here<\/a>.<\/span><\/i><\/p>\n<\/div>\n<\/div>\n<p> <a href=\"https:\/\/thenextweb.com\/news\/quantum-computing-in-europe-future\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This article features an interview with Joe Fitzsimons, the CEO and founder of&nbsp;Horizon Quantum Computing. At&nbsp;TNW Conference&nbsp;on&nbsp;June 16,&nbsp;Fitzsimons will be speaking at a session titled, \u201cIs quantum computing the future of finance?\u201d&#8230;<\/p>\n","protected":false},"author":1,"featured_media":12930,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/12929"}],"collection":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12929"}],"version-history":[{"count":0,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/12929\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/media\/12930"}],"wp:attachment":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}