Australia to invest $73 mln in quantum tech as it beefs up critical areas

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Canberra, Nov 16 (Businesshala) – Australia will spend $100 million ($73 million) to develop quantum technology, Prime Minister Scott Morrison said on Wednesday, as Canberra identifies nine areas of technology that it considers to be of national interest. considered important.

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Quantum technology based on the fundamentals of physics is still in its infancy, but has become the darling of investors seeking to revolutionize industries ranging from healthcare and finance to artificial intelligence and weather forecasting.

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In recent months Australia has pledged to spend billions of dollars to modernize its economy and reduce dependence on China, boost manufacturing in industries such as resources and critical minerals, as well as to develop low-emissions technology. has supported.

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

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“Quantum science and technology has the potential to revolutionize a whole range of industries,” Morrison said in excerpts from a speech given to Businesshala.

He will give examples like communication, energy, agriculture, manufacturing, transportation and mining.

Other areas of technology that Australia considers important include advanced cyber security, communications, mineral extraction, autonomous vehicles and novel antibiotics.

But he would also caution about the ethical implications of such a new development.

“We need to ask ourselves what needs to be done with technology – not just what can be done,” he would say, according to the extract.

($1=1.3633 Australian Dollar)

Reporting by Colin Packham; Editing by Clarence Fernandez

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