Australia to invest $ 73 million in quantum science as critical technology, Telecom News, ET Telecom
CANBERRA: Australia will spend A $ 100 million ($ 73 million) to develop quantum technology, Prime Minister Scott Morrison said on Wednesday, as Canberra identifies nine areas of technology that it deems essential for national interests.
Quantum technology, based on the fundamentals of physics, is still in its infancy but has become the darling of investors aspiring to revolutionize the healthcare and finance industries with artificial intelligence and forecasting. meteorological.
In recent months, Australia has pledged to spend billions of dollars to modernize its economy and reduce its dependence on China, boosting manufacturing in sectors such as essential resources and minerals, as well as by supporting the development of low-emission technologies.
Accelerating its economic plan, Australia will support nine technologies, the first of which is quantum technology. Most of the pledged A $ 100 million will be used to commercialize Australian quantum research and forge links to global markets and supply chains.
âQuantum science and technology have the potential to revolutionize a whole range of industries,â Morrison said in a speech Wednesday.
The announcement was well received by the Australian IT industry.
âQuantum technology has the potential to be a multi-billion dollar industry generating thousands of jobs in Australia,â said Ron Gauci, CEO of industry group, the Australian Information Industry Association.
Morrison said other technologies that will be supported include advanced cybersecurity, communications, mineral mining, autonomous vehicles and newer antibiotics.
But he also warned of the ethical implications of these new developments.
âWe have to ask ourselves what should be done with the technology – not just what can be done,â Morrison said.