Adam Hammond, EMEA Business Leader at IBM Quantum, discusses the UK’s position in the global quantum space and outlines key needs for future growth.
While artificial intelligence (AI) is at its peak, quantum computing is emerging as the next technological revolution, estimated to be worth $850 billion by 2040. UNESCO has named 2025 the International Year of Quantum Science and Technology. If the UK seizes this opportunity, quantum computing could become a real differentiator for the country, with the power to shape our economy and the world for the better.
Getting there will require policy strategies that emphasize technological neutrality, utilize open source software, prioritize funding for algorithm and application development research, and lower barriers to access. Thankfully, Europe’s strong leadership in physical science and technical expertise provides the perfect starting point.
The need for quantum technology
In a world of AI-accelerated computing power, you may wonder why we need quantum computers. Simply put, there are complex problems that classical computers cannot solve, such as molecular simulation for drug discovery and materials science, or optimization of large-scale systems in finance and logistics.
This year, British financial services group HSBC published research that appears to be the world’s first empirical evidence of the potential value of quantum computers for solving real-world problems in algorithmic bond trading. E.ON, one of Europe’s largest energy companies, is also exploring ways to use Quantum to optimize energy prices amid variable weather and varying usage patterns in newly electrified areas.
In addition to maximizing the efficiency of energy grids and financial services, other opportunities are also being explored, such as how quantum can optimize global transportation and help understand complex chemical reactions that could lead to the discovery of new materials and medicines.
What does this mean for the UK?
The UK is home to one of the world’s strongest quantum ecosystems, with world-class talent and research facilities. The UK has the highest number of quantum computing startups in Europe. This reflects considerable research strength, with almost half of the UK’s quantum hardware companies and a third of the UK’s quantum software companies being the result of spin-outs from UK universities. Partnering with academia will also help accelerate the creation of a new quantum workforce and ecosystem. Here in the UK, we have also seen examples of effective industry, academia and government collaboration. AstraZeneca is collaborating with IBM and the STFC Hartley National Digital Innovation Center to explore how quantum can improve the accuracy of molecular modeling and accelerate drug development.
According to the 2025 Oxford Economics Quantum report, quantum computing offers the UK a huge opportunity to increase productivity and GDP growth across the economy. Quantum computing could help achieve a 7% increase in productivity by 2045, resulting in a gross value added of £212 billion to the UK’s GDP. This equates to around an additional £7,500 per UK household.
To remain globally competitive as a quantum leader, the UK needs long-term commitment and investment from government, along with industry partners.
Transition to quantum supremacy
IBM recently announced progress toward achieving quantum advantage by the end of 2026 and fault-tolerant quantum computing by 2029. IBM Quantum Nighthawk is the company’s most advanced quantum processor to date, designed with an architecture that complements high-performance quantum software to deliver quantum advantage in 2026. That is, the point at which quantum computers can solve problems more efficiently and accurately than all conventional methods. The enhanced qubit connectivity with Nighthawk allows users to execute circuits 30% more complex than IBM’s previous processors with precision while maintaining low error rates.
In parallel, IBM is rapidly achieving milestones towards building the world’s first large-scale fault-tolerant quantum computer by 2029.
The company also announced the IBM Quantum Loon, an experimental processor that for the first time demonstrates all the major processor components needed for fault-tolerant quantum computing. Loon validates new architectures to implement and extend the components necessary for practical and highly efficient quantum error correction. The efficient quantum error correction decoding applied to Loon achieved a 10x speedup compared to current leading approaches, a year ahead of schedule.
Quantum computing is no longer a distant vision, but is rapidly becoming the basis for future innovations. The UK has a strong ecosystem of talent, research and industry partnerships, so we are well placed to lead this transformation. Enabling quantum superiority and ultimately fault-tolerant systems will lead to breakthroughs across sectors, from healthcare and energy to finance and logistics. Realizing this potential requires sustained investment, cooperation and strategic policies. The race to quantum is not just about technology, but also about shaping the next era of global competitiveness and economic growth.
This article will also be published in the quarterly magazine issue 24.
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