Quantum technology is currently being commercialized. The question is no longer what quantum tech is or why it matters, but rather how and when we can harness its potential. Finland must seize this moment as the quantum industry enters a critical phase of development.
On the brink of such a major technological revolution, both policymakers and businesses face pivotal choices and far-reaching decisions: We can either make a significant investment in this sector and actively shape our future or miss out on the tremendous opportunities ahead.
Historically, Finland has thrived by innovatively and boldly leveraging technology during periods of change. In quantum technology, we have a unique opportunity to replicate this success. Finnish research and development are crucial in this new narrative. By specializing and selecting the right technological advancements, a small country can punch above its weight.
An enormous opportunity
Why should Finland invest in quantum technology? Quantum technology is a disruptive technology. Particularly, quantum computing has the potential to revolutionize industries, serve society, and drive business. It opens unique opportunities in areas such as healthcare, logistics, and financial services.
Finland has all the prerequisites to lead and pioneer. We cannot compete with the world's largest countries by sheer size of investments or population. Nor can we win by doing exactly the same thing and in exactly the same way as everyone else.
Our strength lies in specializing in areas where we possess deep expertise and a competitive advantage. In quantum technologies, we already have a robust foundation that is certainly worth expanding. Visionary, cutting-edge basic and applied research has positioned us as a global leader in key superconducting technologies. We have also seen the emergence of companies that are leading the way on the global market, such as cryostat manufacturer Bluefors and quantum computer builder IQMs.
Quantum technology is deep technology in every sense of the word. Developing and researching deep technology demands a diverse skill set and expertise. A ‘dream team’ comprises top experts across multiple fields whose talents complement each other. This team requires knowledge in at least quantum physics, semiconductor technology, electronics, computer science, mathematics, management, sales, and marketing.
Finland also needs leading experts across different research fields to drive product development. This requires ambitious investment in education. However, our limited population base necessitates attracting foreign experts to fulfil our talent needs.
Being at the forefront requires a long-term commitment
The business benefits and market potential of quantum technologies are most significant in quantum computing and its applications. Although Finland already has promising companies like Algoritmiq and Quanscient in this space, there is room for many more.
We Finns must embrace and broadly apply quantum computing to ensure continued success in the international market. In a global race, we aim not just to participate, but to lead and win.
Finland has made remarkable one-off investments in quantum technology. However, other countries, such as the United States, Germany and France, have been investing billions of euros in quantum technology over the long term. Finland also needs continuous, long-term investment in the sector and its ambitious development. Only then can we be among the first to benefit from quantum technology.
Finland can and must be more than just a user of technology. We must be developers and trailblazers. It is essential that we do not take our position for granted, but rather continue to invest heavily in quantum technology development to ensure Finland remains at the forefront. Innovation is needed at many levels. Now is the time for Finnish companies to explore how they can leverage quantum technology to transform their businesses.
Read more in our press release.
