Commonwealth Bank has invested over $14 million to support the development of the first Australian silicon-based quantum computer.
They join Telstra, the Federal Government, the New South Wales Government and the University of New South Wales (UNSW) in an $83 million venture to found Australias first quantum computing company.
The company, Silicon Quantum Computing Pty Ltd (SQC), has been launched to advance the development and commercialisation of the UNSWs world-leading quantum computing technology.
Working with the Australian Research Council (ARC) Centre of Excellence for Quantum Computation and Communication Technology (CQC2T), the company will operate from new laboratories within CQC2Ts UNSW headquarters.
Headed by UNSW Professor of Physics Michelle Simmons, CQC2Ts research is at the forefront of a global scientific race thats been compared to the space race of the 1950s and 60s.
Todays announcement is an exciting next step in the long-standing relationship that Commonwealth Bank has had with Michelle Simmons and the UNSW Centre of Excellence for Quantum Computation and Communication Technology, says Dilan Rajasingham, Head of Emerging Technology at Commonwealth Bank.
The SQC board will initially be chaired by corporate lawyer and company director Stephen Menzies.
Other SQC board members include Professor Simmons, CBA chief information officer David Whiteing, Telstra chief scientist Hugh Bradlow and Secretary of the Department of Industry, Innovation and Science Glenys Beauchamp.
The company will drive the development and commercialisation of a 10-qubit quantum integrated circuit prototype in silicon by 2022 as the forerunner to a silicon-based quantum computer.
We have invested more than $14 million in quantum computing because we believe in its future promise, in its future capability, and its potential as a differentiator. Quantum computing will provide Commonwealth Bank with a means to evolve our understanding of our customers, through real-time analysis of their patterns and interactions, so we can provide more tailored products, insights and advice, Mr Rajasingham says.
In April 2017 Commonwealth Bank developed a quantum computer simulator to give Australian developers a head start on the massive step change in computing power promised by quantum processing.
Based on ground-breaking research by UNSW Australia, the simulator gives developers and academics a platform to create quantum computing software before the hardware has been built. It offers a direct look into the computing environment of the future.
Its clear this revolutionary technology willtransform the world as we know it. Even though the machine is still a few years away, were making the required preparations for thismajor step change.Were not waiting, Mr Rajasingham says.
- Quantum computing could change everything, and IBM is ... - May 15th, 2019
- Quantum Computing - Intel - April 29th, 2019
- IBM expands universities in its quantum computing research ... - April 25th, 2019
- Quantum computing is a marathon not a sprint | VentureBeat - April 22nd, 2019
- The CIO's Guide to Quantum Computing - Smarter With Gartner - April 19th, 2019
- This Startup Just Raised $21 Million To Bring Quantum ... - April 18th, 2019
- What is Quantum Computing ? Top 18 Quantum Computing ... - April 6th, 2019
- The promise of quantum computing - businessinsider.com - March 27th, 2019
- Quantum computing is coming: Heres why we need to get our ... - March 23rd, 2019
- Quantum computing will break your encryption in a few ... - March 21st, 2019
- Microsoft has formed a coalition to promote quantum computing ... - March 19th, 2019
- Quantum computing for everyone | Michael Nielsen - March 12th, 2019
- Ask a Techspert: What is quantum computing? - blog.google - March 6th, 2019
- IBM hits quantum computing milestone, may see 'Quantum ... - March 6th, 2019
- Its Time You Learned About Quantum Computing | WIRED - March 6th, 2019
- Microsofts quantum computing network takes a giant leap ... - March 2nd, 2019
- When Will Quantum Computing Have Real Commercial Value ... - February 25th, 2019
- The Case Against Quantum Computing - IEEE Spectrum - February 22nd, 2019
- How Does Quantum Computing Work? - ExtremeTech - January 31st, 2019
- Quantum technology - Wikipedia - January 23rd, 2019
- CES 2019: IBM's Q System One Is the Rock Star Quantum ... - January 13th, 2019
- Quantum Computing | The MIT Press - January 11th, 2019
- IBM thinks outside of the lab, puts quantum computer in a box - January 11th, 2019
- IBM unveils its first commercial quantum computer - January 9th, 2019
- A new type of quantum computer has smashed every record ... - December 21st, 2018
- China bet big on quantum computing. Now the US races to ... - October 26th, 2018
- US takes first step toward a quantum computing workforce ... - September 17th, 2018
- China bet big on quantum computing. Now the ... - money.cnn.com - September 17th, 2018
- The reality of quantum computing could be just three years ... - September 12th, 2018
- The quantum computing race the US cant afford to lose - September 3rd, 2018
- Quantum Computing | USRA - August 30th, 2018
- What Is Quantum Computing? The Complete WIRED Guide | WIRED - August 22nd, 2018
- Quantum Computing Market Research Report- Forecast 2022 | MRFR - August 1st, 2018
- Two Quantum Computing Bills Are Coming To Congress - July 5th, 2018
- Senate bills would make quantum computing a priority - June 10th, 2018
- What is quantum computing? - Definition from WhatIs.com - February 5th, 2018
- The Era of Quantum Computing Is Here. Outlook: Cloudy ... - January 26th, 2018
- IBM puts its quantum computer to work in relaxing, nerdy ASMR ... - January 8th, 2018
- Quantum computing is going to change the world. Here's what ... - January 8th, 2018
- Is Quantum Computing an Existential Threat to Blockchain ... - December 25th, 2017
- What is Quantum Computing? | SAP News Center - December 23rd, 2017
- Quantum Computing Explained | What is Quantum Computing? - December 21st, 2017
- New silicon structure opens the gate to quantum computers - December 14th, 2017
- Microsoft offers developers a preview of its quantum ... - December 12th, 2017
- Quantum Computing Is the Next Big Security Risk | WIRED - December 8th, 2017
- Yale Professors Race Google and IBM to the First Quantum ... - November 16th, 2017
- IBM's processor pushes quantum computing ... - engadget.com - November 16th, 2017
- Quantum computing - news.microsoft.com - November 1st, 2017
- Intel Takes First Steps To Universal Quantum Computing - October 13th, 2017
- Qudits: The Real Future of Quantum Computing? - IEEE Spectrum - October 13th, 2017
- quantum computing - engadget.com - October 13th, 2017
- Quantum Computing | Intel Newsroom - October 13th, 2017
- What will you actually use quantum computing for? | ZDNet - October 11th, 2017
- Here's what quantum computing is and why it matters - October 6th, 2017
- Microsoft just upped its multi-million bet on quantum computing - ZDNet - September 7th, 2017
- Microsoft's Aussie quantum computing lab set to scale up next-gen ... - ARNnet - September 7th, 2017
- An Entirely New Type of Quantum Computing Has Just Been Invented - Futurism - September 7th, 2017
- Quantum computing event explores the implications for business - Cambridge Network - August 30th, 2017
- Quantum Computing Is Coming at Us Fast, So Here's Everything You Need to Know - ScienceAlert - August 27th, 2017
- How quantum mechanics can change computing - San Francisco ... - San Francisco Chronicle - August 25th, 2017
- How quantum mechanics can change computing - The Conversation US - August 23rd, 2017
- Introducing Australia's first quantum computing hardware company - Computerworld Australia - August 23rd, 2017
- IEEE Approves Standards Project for Quantum Computing ... - insideHPC - August 23rd, 2017
- $495.3 Million Quantum Computing Market 2017 by Revenue Source, Application, Industry, and Geography - Global ... - PR Newswire (press release) - August 18th, 2017
- Physicists Have Made Exotic Quantum States From Light - Futurism - August 16th, 2017
- Machine learning tackles quantum error correction - Phys.Org - August 15th, 2017
- Quantum Internet Is 13 Years Away. Wait, What's Quantum Internet? - WIRED - August 15th, 2017
- Blind quantum computing for everyone - Phys.org - Phys.Org - August 12th, 2017
- Quantum Computing Is Real, and D-Wave Just Open ... - WIRED - August 12th, 2017
- Quantum Computing Market Worth 495.3 Million USD by 2023 | 08 ... - Markets Insider - August 10th, 2017
- China uses a quantum satellite to transmit potentially unhackable data - CNBC - August 10th, 2017
- Physicists Take Big Step Towards Quantum Computing and ... - Universe Today - August 1st, 2017
- Why you might trust a quantum computer with secretseven over ... - Phys.Org - July 12th, 2017
- Quantum-computer node uses two different ion species - physicsworld.com - July 10th, 2017
- Quantum Computers vs Bitcoin How Worried Should We Be? - The Merkle - July 10th, 2017
- Quantum cheques could be a forgery-free way to move money - New Scientist - July 10th, 2017
- Technique for measuring and controlling electron state is a ... - UCLA Newsroom - July 9th, 2017
- Quantum Computers Made Even More Powerful with New microchip generating 'Qudits' - TrendinTech - July 8th, 2017
- Quantum Computing Record Broken - Wall Street Pit - July 8th, 2017
- Alkermes and IBM's quantum computing. Who'll be the big winner? Malcolm Berko - Durham Herald Sun - July 6th, 2017