Australia announces USD620M investment to develop quantum computing | MENAFN.COM

(MENAFN) Australia, alongside the state of Queensland, recently announced a substantial financial commitment of 940 million Australian dollars, equivalent to approximately 620 million US dollars, towards the development of a large-scale quantum computer near Brisbane, facilitated through PSI Quantum. This landmark deal signals a significant step forward in realizing the long-envisioned potential of quantum computing, leveraging the unique principles of quantum mechanics.Pete Shadbolt, head of the scientific department at PSI Quantum, emphasized the transformative nature of the Australian system, poised to become the world’s first commercially viable quantum computer. Such assertions underscore a broader sentiment within the scientific community, indicating a growing momentum towards realizing the practical applications of quantum computing technology.The journey towards achieving practical quantum computing has been marked by numerous challenges since Professor Richard Feynman first introduced the concept over six decades ago. Notably, the instability of quantum bits, or qubits, has been a prominent obstacle, with qubits prone to rapid fluctuations in their quantum states, leading to computational errors and inefficiencies.However, recent advancements in error correction techniques have shown promising developments in mitigating these challenges. Innovations in encoding information into qubits aim to reduce the effects of noise and error accumulation during quantum calculations. This breakthrough holds significant potential in enhancing the reliability and effectiveness of quantum computing systems, surpassing earlier industry expectations.The concerted efforts in addressing the fundamental hurdles of quantum computing reflect a renewed sense of optimism within the field. With substantial investments and technological advancements, the prospect of realizing practical quantum computing capabilities before the end of this decade appears increasingly feasible. These developments not only underscore the progress made but also highlight the collaborative efforts driving the evolution of quantum computing towards real-world applications. MENAFN06052024000045015682ID1108176763

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