$1 billion for Australian project to build first useful quantum computer

The federal and Queensland governments will sink $1 billion into an emerging high-technology company to build the world’s first commercial-scale quantum computer as part of Anthony Albanese’s Future Made in Australia agenda.

Albanese, who has so far outlined only parts of the government’s made in Australia policy, said the PsiQuantum project could make the country a technology manufacturing powerhouse. But unlike ordinary computers, errors can occur in the computations of quantum computers that can then be fed through their telecommunication systems, amplifying the mistake across the computation process. This in effect makes their final computations useless.

Industry Minister Ed Husic said the project was a chance to put Australia ahead of other nations in the race for fault-tolerant quantum computing, which was poised to change key parts of the global economy. Apart from building the quantum computer and setting up its regional base, the PsiQuantum project is expected to lead to investment in university and research collaborations, new digital and advanced technology supply chains and support advanced manufacturing clusters.The company’s CEO and co-founder is Jeremy O’Brien, who studied at the universities of Western Australia and Queensland and completed his PhD at the University of NSW. His co-founder is fellow Australian Terry Rudolph.

“The promise of quantum computing is a true step change in the ways we understand and leverage chemistry, mathematics and physics in designing the world around us.”It has been looking around the world for its first computer site to build the infrastructure needed for its quantum computer.

Source: News Formal (newsformal.com)

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