Victoria well placed to capitalise on quantum technology

Quantum physics seeks to understand how sub-atomic systems operate, such as the behaviour of particles and electrons. Many of its technological applications have accelerated over the past 30 years and quantum technology is vital to everyday technologies like transistors and semiconductors, laser technologies, solar panels, electron microscopes and many others.  

The Victorian Parliamentary Library has produced a research note, Quantum Technology and Victoria, that examines new applications of quantum technology, its research status in Australia and key challenges to its expansion.  

Universities, governments and private companies are investing in quantum technology for the potential benefits it might create for future societies and economies, and the creation of new jobs. Research and development in these fields are accelerating internationally.  

In the United States, the Biden administration enacted a $180 billion research and development plan in 2021 that includes a major focus on quantum technologies.  

The CSIRO called for a ‘national road map’ policy to be established in 2019 to consolidate and coordinate the sector’s further development. A ‘Joint Statement of Australia and the United States of America on Cooperation in Quantum Science and Technology’ was also signed in November 2021. 

Commercialising these technologies will create a new high growth industry with the potential to create economic growth and jobs. But realising these opportunities will require sustained effort.