European Commission sets Clear Goals to lead the world in Quantum Computing by 2030
AI-summarised brief · reviewed before publication
The European Commission has set an ambitious goal for Europe to lead the world in quantum computing by 2030, with a comprehensive strategy to achieve this objective. In the global tech landscape, artificial intelligence (AI) has been the primary focus, with the United States leading the way, closely followed by China. However, the European Commission has recognized the importance of quantum computing and is determined to make Europe the leader in this field. The Quantum Europe Strategy, unveiled by the European Commission, is a five-pronged approach aimed at making significant advancements in quantum computing. The strategy focuses on research and development, quantum infrastructures, strengthening the quantum ecosystem, space and dual-use quantum technologies, and quantum skills. For those seeking a more detailed understanding of the strategy, the European Commission has created a comprehensive PDF factsheet. One of the primary objectives of the Quantum Europe Strategy is to increase the share of global private funding received by European quantum companies, which currently stands at around 5%. This is expected to stimulate the growth of European startups and scaleups, as well as promote the adoption of European quantum solutions by European industries. The European Commission estimates that the global quantum technology sector, particularly in areas related to defense and security, will be worth over €155 billion by 2040. While this is a significant amount, it pales in comparison to the vast sums of money being invested in AI. Despite decades of research into quantum computing, it still has not reached the point where it can be fully utilized on the same scale as traditional computing. Nevertheless, the European Commission's Quantum Europe Strategy is a significant step towards making Europe a leader in this field.
