Australia is among the top five countries in the world when it comes to researching quantum technologies, according to Anthony Murfett, head of the technology and national security division, Department of Industry, Science, Energy and Resources.

Murfett spoke at the Tech Leaders Forum in the Blue Mountains last week and told audiences that quantum technologies are expected to deliver Australia $4 billion in economic value and create 16,000 new jobs by 2040.
“[Quantum is] a competitive advantage for us, but it is going to be transformative over the next couple of years,” said Murfett.
“We have world-leading academics, our workforces overseas and the likes of Google and Amazon. We have eight universities that are above world standard in quantum physics.
“As we get closer to quantum computing it is how do we really realise that benefit and the opportunities there and ensure we've got both of the workforce and that Australia's commercialising some of the great ideas that it has.”
While Australia makes up less than a third of a percent of the world’s population, it accounts for 4.2 percent of global research in quantum technology, he said.
As investment in this emerging technology grows, Murfett highlighted regulation as critical in this space.
“We're at a very early stage of the opportunities, we need to start thinking about what the rules are and how they're going to be used in the future,” he said.
Professor David J. Reilly, partner and research manager of Microsoft Quantum – Sydney and professor in the School of Physics at The University of Sydney also spoke at the event.
He told audiences that we are at a critical time when it comes to the development of quantum technologies.
“We’re seeing like in the Industrial Revolution, the physics of thermodynamics turn into machines, steam engines. We've seen the equations of Maxwell turn into electromagnetism, radio, the telegraph, television, the internet,” said Reilly.
“In the years that were alive today, we're watching new physics, yet to be tapped for technology, start to merge into basic experiments. Over the next two decades, you're going to see that new physics leads to totally revolutionary new technology. Australia is at the centre of that whole endeavour to bring alive this new physics that we haven't yet tapped.”