Quantum Computing has the potential to power the next wave of radical technological innovation, BUT what is it and why is it so important?
Quantum computers use qubits instead of binary digits that traditional computers use. Binary digits are measured in the two different states of 0 and 1, but qubits operate in superposition or an indeterminate state. Qubits represent atoms, ions, photons and electrons and can contain these states simultaneously. The technical elements aside, put simply, their potential power lies with being able to solve problems that classical computers cannot solve, and in a much shorter timeframe, by harnessing these unique characteristics of quantum physics.
So why is that so important?
Quantum technology has the potential to unlock new breakthroughs in a range of industries such as health, defence, transport and logistics, manufacturing and financial services. If realised, it will be a game changer in the world of business tech.
Some industries have already started experimenting with the use of quantum computing through using online quantum computer simulators. Financial organisations are looking to use quantum computers to assist with portfolio optimisation and risk analysis, and in the energy sector to help predict usage and manage power grids accordingly. So while a confusing technology to some, the real applications of such a powerful tool could bring significant benefits for the future of business.
Sydney Quantum Academy
Earlier this year the NSW Government committed to co-fund the Sydney Quantum Academy. The University of Sydney, University of New South Wales, University of Technology Sydney and Macquarie University signed a vital Memorandum of Understanding as joint partners in the Academy. It will play a central role in education, industry development, talent, investment attraction and promoting an understanding of the implications of quantum technologies and computing.
Stuart Ayres, Minister for Jobs, Investment, Tourism and Western Sydney, said that the Sydney Quantum Academy will help supercharge the development and commercialisation of quantum computing, make NSW a global hub for advanced training in this ground-breaking field of science and bring along economic growth and job creation.
“The Sydney Quantum Academy is a very exciting initiative for NSW. It is an innovative collaborative model that draws on the expertise of four leading universities to develop the quantum economy,” Mr Ayres said
“Importantly it will further grow the vibrant ecosystem of quantum computing here in Australia by providing first mover advantages across a spectrum of industries, including telecommunications, finance, defence, manufacturing, agriculture and transport,” Mr Ayres added.
The NSW Government is investing $15.4 million in the Sydney Quantum Academy and combined with current university and future industry support, the total investment will be about $35 million.
With a range of end-to-end capabilities including applications and software design, fabrication, engineering and quantum architectural design and fundamental research in the quantum information sciences, Sydney is leading the way not just for Australia, but the world.
To learn more about quantum technologies and their importance in the future of business technology, head to CeBIT Australia (29 - 31 October 2019) at International Convention Centre, Sydney https://www.cebit.com.au/
About CEBIT Australia:
29 - 31 October 2019, International Convention Centre Sydney