This report is a part of the EY Quantum Intersection — a series of articles, surveys and opinions on the business impact of quantum computing, communication, and sensing. The ‘intersection’ refers to the tipping point that we have reached in the maturity of these technologies and their imminent acceleration towards commercial viability.
About the NQCC
This report has been completed in collaboration with the National Quantum Computing Centre.
The NQCC is a new research institution, funded through UK Research and Innovation, which is dedicated to accelerating the development of quantum computing by addressing the challenges of scaling the emerging technologies. The centre will work with businesses, government and the research community to deliver assured quantum computing capabilities for the UK, and support the growth of the emerging industry. The NQCC’s programme is being delivered jointly by the research councils, EPSRC and STFC.
The centre will be headquartered in a purpose-built facility on STFC’s Rutherford Appleton Laboratory site at the Harwell Campus in Oxfordshire, which is due for completion in 2023. The NQCC is part of the National Quantum Technologies Programme, which began in 2014 and involves the delivery of £1bn of public and private sector investment over 10 years, to develop and deliver quantum technologies across the areas of sensing, timing, imaging, communications and computing.
From February to March 2022, a total of 1,516 UK-based executives were approached for their views on the opportunities and challenges associated with quantum computing, and how if at all, their organisations are preparing for it. To take part in the survey, executives had to demonstrate at least a moderate — but preferably a high — level of understanding of quantum computing. Of the 1,516 people approached, 501 met this requirement and completed the survey. All these respondents have senior roles in their organisations: 30% are C-suite executives or board members and the other 70% are department heads, directors or vice presidents. Just under one-quarter have IT or technology roles, and the rest work in different business roles, such as strategy, human resources (HR) or risk management.
The respondents’ organisations are distributed across 11 sectors, with financial services, health and life sciences, and automotive and transportation the most widely represented. The respondents work in medium-sized or large organisations, with annual revenues ranging from £350mn to over £14bn.
We would like to thank all those who completed our survey. In addition, we are extremely grateful to the following executives for their time and insight during a series of in-depth interviews:
Chief Executive Officer and Founder, Riverlane
Chief Information Officer, Johnson Matthey
Global Business Lead, Quantum Computing, HSBC
R&D Manager, Northumbrian Water
Research Manager, Johnson Matthey Technology Centre
Global Head of Data Science Innovation, CCIB Digital, Standard Chartered
Senior Vice President, Digital Science & Engineering, BP
The survey and interviews were conducted by Longitude — a Financial Times company — on behalf of the EY organisation.