- BCG assumptions could lead to quantum computing. 450 dollars to the 850 billion dollars The value in the next 15 to 30 years
- Europe is currently among the global leaders in public support and basic research, but lacks the coordination of member states, sufficient private capital and a pipeline of talent to develop capacity.
- Lessons from the semiconductor industry must be learned to scale capacity and protect Europe’s quantum sovereignty
Paris, August 25, 2022 /PRNewswire/ — Investments in quantum have reached an all-time high in 2021 and are predicted to increase significantly, with many existing industries benefiting and new industries likely to emerge. Boston Consulting Group (BCG), one of the world’s leading management consulting firms, today published new research that shows the scale and speed of global quantum computing. Europe can catch America (and China) in Quantum Computing?
Can Europe catch up with the US (and China) in quantum computing?
While the US is the clear leader in quantum computing patents, venture capital and talent, the EU is currently leading the way in public investment, according to the BCG report. However, the EU lacks a coherent action plan to coordinate individual member state activities, has an underdeveloped private capital market ready to invest in late-stage quantum businesses, and is not developing enough quantum computing capabilities to meet expected demand. According to the BCG report, the US currently has two to three times more quantum capabilities in the business world than the EU.
If urgent action is not taken, the report shows that the European Union risks repeating the mistakes made in the semiconductor industry. Europewith the United Kingdom and China, ranks well among the top three chasers currently chasing the US (see exhibit). The European Union is one of the leaders in public action in quantum and has launched initiatives such as the Quantum Flagship, coordinating research efforts in various industries and conducting pilot educational projects for the emerging ecosystem.
So what should the European Union do to avoid repeating the mistakes it made ten years ago by failing to expand the continental semiconductor industry?
“The EU has all the ingredients to succeed in the quantum race, but it needs to rapidly develop and deliver a comprehensive plan to turn potential into action,” said François Candelon, managing director and senior partner at BCG and author of the report. “Europe The history of tech revolutions is often one of early promise, misfires at critical moments, and then costly attempts to catch up. Policymakers need to learn those lessons quickly. The good news is that the window is still open for Europe’s universities to invest in creating and implementing a European strategy, building public and private capital forces, and enhancing their ability to train the next generation of quantum professionals.
Action plan b Europe
The BCG report will formulate an action plan. Europe To maintain quantum sovereignty:
- First, create a coordinated EU-wide action plan that harmonizes member country programs and strategies.
- Second, close the European investment gap for European startups to scale up faster, especially for late-stage funding.
- Third, build an end-to-end talent pipeline from high school to graduate school to create enough talent to meet growing business needs.
Quantum sovereignty
The Covid-19 crisis has come to the fore. Europe The ability to design and manufacture new vaccines necessary to prevent epidemics across the continent. On the contrary, the lack of domestic European manufacturing capabilities for advanced semiconductors has shown dependence on the global supply chain. According to BCG’s estimates, the chip crisis has caused the production of almost 10 million vehicles, which is especially important for EuropeHome to major car manufacturers.
Quantum has implications for national competitiveness and sovereignty in many industries such as aerospace, defense, pharmaceuticals and chemicals. if so Europe Seeking to maintain its global importance and self-sufficiency in key economic areas, it must ensure quantum capabilities at all levels of the supply chain, from R&D to manufacturing and applications.
Download the publication here: https://www.bcg.com/publications/2022/can-europe-catch-up-in-quantum-computer-race
Please contact for more information Brian Bannister at +44 7919 393753 or [email protected].
About the Boston Consulting Group
The Boston Consulting Group partners with business and community leaders to address their most pressing challenges and seize their greatest opportunities. BCG was a pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to adopt a transformational approach that aims to benefit all stakeholders—to grow their organizations, develop sustainable competitive advantage, and positively impact society.
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Source: Boston Consulting Group (BCG)
