You always think, “It will never happen to me”. But the truth is, in today’s fast-paced world when we’re surrounded by information, it’s easier than ever to fall for a scam.
Fraud is an enormous problem: one which costs the British economy £2.6 billion a year, undermining public trust in our financial services and causes heartache for so many people.
But by harnessing the power of new technologies like quantum computing, we can take the fight to the criminals who perpetrate it.
Quantum technologies harness the unique properties of subatomic particles to process information and solve pressing problems in ways that simply weren’t possible before.
This sounds like science fiction – but Britain’s brightest minds are already putting this tech to work tackling society’s big challenges. Beating fraud is at the forefront of these efforts.
Right now, specialists at HSBC are already working on ways we can use quantum computing to detect the first signs of suspicious activity in people’s bank accounts, thanks to support from our National Quantum Computing Centre and our Quantum Software Laboratory.
This is just one of the projects we’re backing as part of a £121 million investment for the next 12 months, putting quantum to use right across the economy.
We know that with the right financial support, the top-tier talent and with smart regulation, we can seize the benefits quantum technology has to offer. Tackling fraud is only one example of the ways this tech could help us.
Fraud is just one example, where we could use this tech to get ahead of criminals, spot suspicious activity sooner, and intervene before they can take advantage of innocent people, But British researchers also making headway on using quantum tech to diagnose diseases, and even give advance warning of earthquakes.
This is exactly why our government is continuing to invest in quantum research as part of our Plan for Change.
The latest investments in quantum set out by my department are just the start of our plan to turbocharge research and development in this area.
With more bright ideas we could deliver on the UK’s well-established National Quantum Programme and step up our healthcare services for example, powering drug discovery, diagnosis and more.
I want our world-leading quantum innovators to feel confident that they have this government’s long-term backing for their research.
Because it is their work that will solve problems that currently seem intractable, and deliver benefits we all feel in our lives. The UK is a world-leading quantum nation and it is my ambition we remain so.
This is only the start of our ambitions, for a technology with genuinely transformative potential.
Peter Kyle is the Secretary of State for Science, Innovation and Technology.
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