Japan to Provide $31.7 Million in Aid for Communal Quantum Computing | University of Tokyo
Japan to Allocate $30 Million in Assistance for Quantum Computing Sharing in Business and Finance
The Japanese administration is set to allocate 4.2 billion yen ($31.7 million) to support the expansion of communal quantum computing via a cloud platform accessible to enterprises, as per sources from Nikkei.
The Ministry of Economy, Trade and Industry will sponsor a quantum computing consortium spearheaded by the University of Tokyo over the ensuing five years.
The University currently operates an IBM quantum computer with a processing capacity of 27 quantum bits (qubits). The consortium plans to implement a 127-qubit model from IBM this autumn, with the expenses covered by the funding.
Quantum Computers Boost Innovation:
According to advocates, more extensive utilization of quantum computers could benefit a wide range of firms. They could help autonomous vehicles select the best routes, improve the efficacy of developing new medicines and materials, and offer sophisticated financial technology services.
The consortium led by the University of Tokyo has 17 members, including Toyota Motor, Mitsubishi Chemical, and Mizuho Financial Group, with additional entities projected to participate.
The partners will jointly utilize the 27-qubit IBM quantum computer via a cloud server. This approach will reduce the expenses each member would incur to use a quantum computer independently.
The new 127-qubit computer will possess greater processing power than the 64-qubit quantum computer built by the Riken research institute in Japan, which became accessible to external users last month.
Cloud computing services in Japan are predominantly provided by foreign corporations. Tokyo aims to broaden Japan’s cloud influence in the quantum computing arena.
In December, the government identified cloud-based applications as one of eleven areas vital for economic security. Last fiscal year, the industry ministry allocated 20 billion yen for cloud-related initiatives.
Japanese Govt.’s Quantum Ambition:
The Japanese government’s commitment to investing in quantum computing is a reflection of its ambition to remain at the forefront of technological advancements. By offering financial support for the development of shared quantum computing through a cloud platform, it aims to increase the availability of this technology to businesses in Japan and beyond.
The University of Tokyo’s leading role in the quantum computing consortium underscores its status as a leading research institution in Japan. The expansion of its quantum computing capabilities with the introduction of a 127-qubit IBM model will enable it to conduct even more advanced research and provide greater value to its partners in industry and finance.
Quantum Computing Benefits Industries:
The potential benefits of quantum computing to various industries are vast, and its utilization could lead to significant improvements in fields such as healthcare, transportation, and finance. As such, the consortium’s diverse range of members from various industries is a promising indication of the broad applications of quantum computing.
Japan’s Cloud Expansion Strategy:
Japan’s efforts to expand its cloud presence in the quantum computing field align with its broader economic security goals, as identified by the government. As the country continues to prioritize the development of technology and innovation, it is likely to remain a significant player in the global technological landscape.
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