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Two years after its first release, the Growing Australia’s Quantum Technology Industry Roadmap from CSIRO has been updated to reflect developments in the technology.
The report provides focus in each of the three major areas quantum technology covers: quantum computing, sensing and measurement, and communications.
According to new modeling, the CSIRO predicts that the employment benefits of quantum technology would reach 8700 by 2030 and then more than double to 19,400 by 2045.
The industry is anticipated to generate $2.2 billion in revenue by 2030 and nearly $6 billion by 2045.
Based on its existing proportion of investment and research workforce, the analysis presented forecasts Australia can capture five per cent of the worldwide quantum technology market opportunity.
According to CSIRO head Larry Marshall, Australia is currently at a “tipping point” between research and commercial development.
Marshall said, “We need to harness our bold vision for what this breakthrough technology could mean for some of our largest industries,” .
Numerous current and future quantum applications, such as sensors for mining and random number generators for security, are the result of Australian brilliance.
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Despite being a niche field, the report revealed that recent breakthroughs point to a positive future for quantum technology on a worldwide scale.
It is anticipated that there would be an increase in demand for robust quantum computing, analytics, sensing, secure communications and cryptography.
With 17 nations having a national program or policy to encourage quantum technology, funding and investment for start-ups in the field of quantum technology exceeded $US1.4 billion ($A2.2 billion) globally in 2021, more than doubling in only one year.
There is still room for advancement and the technology may be fragile. The United States’ IBM, China’s Baidu and Japan’s Fujitsu are all advancing, though.
In 2023, Fujitsu wants to start selling 64-qubit research computers, Baidu is working on a 10-qubit quantum computer for the general public and IBM wants to have a machine with more than 4000 qubits.
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A qubit, or quantum bit, can store a lot more data than a conventional computer or digital communications bit, which might make quantum technology far more potent.
According to CSIRO, there is still a lot of uncertainty, and the “conservative” income and job prognosis depends on the cutting-edge yet speculative technology finding widespread, commercial usage soon.
The report calls for Australia to continue leading the world in quantum technology research and to provide targeted, nationally coordinated assistance for the sector.
The national quantum advisory council, led by Australia’s Chief Scientist Cathy Foley, met this week with Minister for Industry and Science Ed Husic as they work to create Australia’s first quantum plan.
“I want Australia to be a global centre for quantum and the work of this committee directly supports that effort,” Husic said in welcoming the new CSIRO modeling to the committee.
With AAP and CSIRO.
Jaw de Guzman is the content producer for Comms Room, a knowledge platform and website aimed at assisting the communications industry and its professionals.
