Insider Brief:
- Mphasis announces the open of its Innovation Centre in London, located in Tower 42, as part of its strategy to expand its presence in the UK and develop advanced technologies such as quantum computing, quantum cryptography, and AI.
- The London Innovation Hub will allow Mphasis to collaborate with UK startups and universities, including the University of Cambridge, to pursue enterprise-grade quantum solutions and industry challenges such as algorithmic underwriting and fraud detection.
- The Innovation Hub reinforces Mphasis’ long-term commitment to the UK, particularly in the financial services and insurance sectors, by focusing on AI and quantum computing solutions to support regional development in technology and innovation.
According to a recent news release, Mphasis, a global leader in IT, cloud, and AI services, has announced the opening of its Innovation Centre in London. Located in the iconic Tower 42, this strategic hub will serve as a Centre of Excellence (CoE) for the development of technologies including quantum computing, quantum cryptography, and artificial intelligence. The center will provide Mphasis’ customers with the opportunity to co-create and investigate the application of these technologies to their businesses.
As noted in the release, this London innovation hub is part of Mphasis’ broader expansion strategy in the UK, a market where the company already serves around 60 clients, primarily in the financial services sector. The company plans to double its UK workforce over the next three years as it deepens its investment in the region.
A Focus on Quantum and AI for Commercial and Enterprise Solutions
Mphasis’ Innovation Centre aligns with the UK government’s plans to double its investment in quantum technologies to £2.5 billion over the next decade. The hub will focus on developing solutions to complex challenges faced by industries, including algorithmic underwriting, catastrophic risk modeling, and fraud detection. According to the article, quantum technology, though still considered largely experimental for enterprises, is a key area of focus as Mphasis explores its potential uses cases in sectors such as finance, logistics, and telecoms.
In a statement from Mphasis, Nitin Rakesh, CEO of Mphasis, emphasized that the London Innovation Hub reinforces the company’s commitment to the UK market and its tech ecosystem. “Our new London Innovation Hub is a testimony to our commitment to the UK and its vibrant tech scene. This centre will be a focal point for developing next-generation solutions in AI, quantum computing, and beyond,” Rakesh said.
Collaborating with UK Startups and Universities
The Innovation Centre will not only serve Mphasis’ established clients but will also collaborate with tech startups and academia to develop enterprise-grade quantum solutions. Mphasis’ operating model integrates university networks, such as the University of Cambridge, to harness academic expertise and apply cutting-edge quantum technologies to real-world business challenges. According to Siddharth Saxena, an academic at the Cavendish Laboratory, “Quantum science has undergone a significant transformation in recent decades, evolving into tangible technological solutions. Quantum computing has been at the forefront of this revolution, and we are now poised to witness the emergence of broader quantum functionality, bearing towards a totally revolutionary step-change.”
Mphasis plans to expand the hub’s collaboration efforts by inviting startups to work alongside the company’s innovation teams, providing them with a platform to refine their products and bring them to market. The hub will offer access to Mphasis’ global expertise and resources, creating a collaborative environment where startups can develop enterprise-ready solutions in quantum and AI.
A Long-Term Commitment to the UK’s Tech Ecosystem
The Innovation Centre begins the next phase of Mphasis’ long-term commitment to the UK, particularly in the financial services and insurance sectors. The hub will focus on addressing complex challenges with AI and quantum computing, supporting development in these technologies for the region’s startups, enterprise, and academic pursuits.
