π»π±π₯οΈ New Quantum Ecosystem Report from the Quantum Algorithms Institute Provides Insights into Canada's Growing Quantum Sector
Sunday, 23 June 2024 12:00.PM
- The Canadian Quantum Ecosystem Report 2024 outlines how Canada's quantum industry is growing and how it compares to other jurisdictions around the world -
The Quantum Algorithms Institute released The Canadian Quantum Ecosystem Report 2024, a real-time analysis of Canada's quantum ecosystem which dives into the rapidly growing and changing quantum landscape.
With accurate data on the world's quantum workforce remaining scarce due to the sector's infancy and the lack of national data collection benchmarks in other countries around the world, this report offers a unique view into how Canada's quantum sector is maintaining its position as a global leader in quantum research and the commercialization of quantum technologies.
"The most striking feature of the quantum sector in Canada and around the world is the shortage of quantum talent which threatens to slow progress to multi-billion-dollar market opportunities," said Louise Turner, Chief Executive Officer of the Quantum Algorithms Institute. "Canada is in a leadership position in quantum: building on decades of world-class quantum research, our quantum workforce is strong and growing and we're one of the world's leaders in commercializing quantum computing, hardware and software"
Some of the highlights from the Quantum Algorithms Institute's 2024 Quantum Ecosystem Report include:
International Competition is driving a Rapidly Changing Sector
Companies, investments, national strategies and sovereign technologies are all areas of focus as countries continue to fund growth. Despite financial tightening, private equity investments in quantum startups still reached $1.71 billion in 2023. The second largest private investment globally in 2023 β US$100M β was made in Canadian start-up Photonic Inc.1
Lack of Workforce Data: QAI is Filling the Gap
Accurate data on Canada's quantum labour market remains scarce due to the sector's infancy and the lack of national data collection benchmarks. Internationally, workforce data is similarly elusive, although available information suggest that the global talent pool for quantum is proportionately similar to or smaller than that in Canada. The Quantum Algorithms Institute is innovating to build an accurate picture of Canada's quantum ecosystem and its status in the world.
Small Quantum Workforce β in Canada and Around the World
QAI estimates that Canada's commercial and academic quantum talent pool stands at 4,000 people β just 0.01% of Canada's 40 million population. This is small, but not unlike the quantum workforce in other countries. Canada's long-term investment in quantum research and vibrant commercial ecosystem make Canada a global leader in quantum.
Canada Continues to Build on its Early Commercial Successes in Quantum
Canada is punching above its weight in all aspects of quantum. Analysis of social media reporting shows that Canada is home to 5% of the world's quantum talent pool, although Canada represents only 0.5% of the world's population. Canadian researchers ranked 10th most prolific in the world in 2023, authoring 1,000 of the 75,000 quantum computing research papers published on arXiv.
Global Need to Address the Shortage of Talent in Quantum
The quantum computing marketing is projected to reach US$45-$131 billion by 2040.2 However, the paucity of quantum talent β in Canada and around the world β threatens to slow progress towards this high-value market opportunity. With talent shortages in established high tech sectors and international competition for highly qualified personnel (HQP) in Artificial Intelligence and other deep tech fields, the nascent quantum sector will require innovation in education, training and workforce development to reach its full potential.
Quick Facts:
β’ Canada's 47-plus domestic quantum companies are closely linked to Canadian universities and are mostly small Canadian controlled private companies
β’ Canadian owners represent 14% of all quantum-technology-related patents filed in Canada in 2023 - a strong indicator of the internationally competitive nature of the quantum sector.
β’ Canada is punching above its weight in all aspects of quantum. QAI analysis of social media reporting shows that Canada is home to 5% of the world's quantum talent pool, although Canada represents only 0.5% of the world's population.
SOURCE: Quantum Algorithms Institute
-
Related materials:
- 01-Oct-2024 10:23 AM π¨π¦ππ΅ Government of Canada Partners With Mila to Guide The Development of a Cultural Data Strategy for Artificial Intelligence
- 24-Jul-2024 08:00 AM π§ππ΅Nonprofit Tech Workers Earn 33 Per Cent Less Than Tech Workers in Other Industries
- 23-Jul-2024 10:22 AM ONTARIO π§ππ΅ Ontario Supporting Innovation in the Life Sciences π¨βπ¬π¬βοΈ
- 22-Jul-2024 04:21 PM π±π»ποΈ Study Confirms: By-Products from Lithium Production Can Be Used in Cement Production
- 22-Jul-2024 10:22 AM ππ»ποΈ Hack Club Coders on a Cross-Country Journey with VIA Rail
- 20-Jul-2024 04:24 PM π±π»βοΈ AGE-WELL Invites Startups to Pitch Their Technology-Based Solutions for Healthy Aging in High-Profile National Competition
- 18-Jul-2024 12:00 PM π¨π¦ππ΅ ONTARIO Governments Investing in Horticultural Research and Innovation π°π»π
- 15-Jul-2024 12:00 PM πποΈπ±π» Global EdTech Leaders Witness Radical Learning Transformation at D2L Fusion 2024 πππ§
- 13-Jul-2024 02:26 PM ONTARIO π§ππ΅ Ontario Investing More Than $200 Million in Postsecondary Infrastructure πππ«
- 26-Jun-2024 12:00 PM π©βπ» Tech Developers Pioneering AI Tools to Revolutionize Future Productivity and Logistics