Exploring and Catalysing Collaborations

Gemma Milne, Lecturer in Technology & Innovation Management, University of Glasgow

As part of the project ‘Exploring and Catalysing Collaborations Between Scotland’s Quantum Technology and Financial Ecosystems’ (funded by the Quantum ARC), we ran two industry and expert workshops in 2024, where researchers, industry players (from start-ups to multinational corporates), regulators and policymakers came together to explore the potential opportunities at the intersection of quantum technology and finance.

The first workshop in June 2024 was designed as an introduction to quantum computing and its applications in the finance sector, focusing on educating participants and giving them an opportunity to build their networks. We welcomed 20 participants from organisations including Morgan Stanley, JP Morgan, University of Edinburgh, University of Strathclyde, Photonics Scotland, Craft Prospect (space startup), and Jump Digital (online education startup).

Speakers presented opportunities in quantum and finance by taking participants through the basics and applications of Scotland’s quantum opportunity and ecosystem (talk from University of Glasgow); Encryption and Quantum Key Distribution (talks from Fraunhofer and Toshiba); Forecasting & Optimisation and Quantum Software (talks from QUERECA and University of Edinburgh); and Quantum Sensors & PNT (Position, Navigation and Timing) (talks from University of Strathclyde and Feynic Consulting).

Each section was followed by a group discussion for the participants to react to the learnings, and share how it could be useful/applied in their organisations. A group exercise was undertaken on opportunity mapping, to engage the participants and get their feedback and comments on next steps for their learning and collaboration ideas.

We followed up six months later with a second workshop in December – some of the same participants, some new – which focused on the ‘rules of engagement’ of finance x quantum collaborations in Scotland. The participants took part in various group exercises and discussions (after a panel discussion with speakers from the FCA, British Standards Institute, Moody’s and Glasgow Caledonian University) in order to explore the barriers in ‘making quantum happen’.

The whole project is building towards a policy paper (in progress) about how to unlock Scotland’s quantum finance potential, including a section/recommendation on creating a shared language so that more people and businesses can learn about the opportunities. Stay tuned!