Australia will spend $100 million to develop quantum technology

Australia will spend $100 million to develop quantum technology

Prime Minister Scott Morrison says that Canberra has identified nine areas of technology that it believes is critical for national interests, CANBERRA Reuters- Australia will spend A $100 million $73 million to develop quantum technology.

Quantum technology, based on core principles of physics, is still in its infancy but has become a darling of investors who want to revolutionise industries from healthcare and finance to artificial intelligence and weather forecasting.

In recent months Australia has promised to invest billions of dollars to modernise its economy and reduce dependence on China, by spurring manufacturing in industries such as resources and critical minerals, as well as developing low emission technology.

The first of the nine areas is quantum technology, with the bulk of the promised A $100 million going to commercialise Australia's quantum research and forging links with global markets and supply chains.

Morrison said that quantum science and technology has the potential to revolutionise a whole range of industries, and Morrison is to say that in extracts from a speech provided to Reuters.

He will give examples such as communication, energy, agriculture, manufacturing, transport, and mining.

Australia sees advanced cyber security, communications, mineral exaction, autonomous vehicles and novel antibiotics as critical areas of technology.

He will warn of the ethical implications of such new developments.

He will say that we need to be asking ourselves what can be done with technology, not just what can be done.