0808The Japanese government plans to invest 4.2 billion yen — or $31.7 million US — to support the expansion of shared quantum computing through a cloud platform, according to NIKKEI Asia.
The University of Tokyo will lead the initiative with the backing of the Ministry of Economy, Trade and Industry. The funding will cover the cost of introducing a 127-qubit model from IBM, in addition to the existing 27-qubit model used by the university, reports NIKKEI Asia.
The quantum computing collective under the University of Tokyo has 17 participants, including Toyota Motor, Mitsubishi Chemical, and Mizuho Financial Group, with more expected to join. Members will be able to jointly use the quantum computer through a cloud server, significantly reducing costs.
The Japanese government is looking to expand Japan’s cloud presence in quantum computing, an area identified as one of 11 critical for economic security. The industry ministry budgeted 20 billion yen for cloud-related activities last fiscal year. With this funding, Japan is hoping to become a key player in the field of quantum computing.
According to NIKKEI Asia, Japan, like other countries, sees vast potential for quantum computing to speed pharmaceutical discoveries, improve logistics, enhance security and open up new paths to sustainable economic growth, among other benefits.