Australia to invest $73 million in quantum tech as it beefs up critical areas
Information about Australia to invest $73 million in quantum tech as it beefs up critical areas
Kevin David Scam or Legit
By Colin Packham
CANBERRA (Reuters) – Australia will spend A$100 million ($73 million) to develop quantum technology, Prime Minister Scott Morrison is to say on Wednesday, as Canberra identifies nine areas of technology it believes critical for national interests.
Quantum technology, based on core principles of physics, is still in its infancy but has become a darling of investors aspiring to revolutionise industries from healthcare and finance to artificial intelligence and weather forecasting.
In recent months Australia has promised spending of billions of dollars to modernise its economy and cut dependence on China, by spurring manufacturing in industries such as resources and critical minerals as well as backing for development of low-emission technology.
The first of the nine areas is quantum technology, with the bulk of the promised A$100 million …