Some of Australia's leading company directors were urged to take advantage of opportunities in quantum computing at the Australian Institute of Company Directors (AICD) annual conference in Perth.
Professor Andrew Dzurak, NSW node manager of the Centre for Quantum Computer Technology at the University of NSW, said in an address at the conference that Australia already had the highest per-capita investment in quantum information technologies.
Quantum computing uses the fundamental components of nature, such as electrons or photons -- light particles -- to store data, AICD said in a statement.
"The technology offers real ‘first mover’ opportunities for Australian companies -- the investment is high risk but potentially very high pay-off," said Dzurak.
The desire for more information meant that within a decade or so it would be impossible for existing computer technologies to satisfy demand, he said.
Dzurak told the conference that quantum communications were already available for use by the financial industry, which demanded fast and secure transactions.
"Because of Australia’s position as one of the world leaders in quantum information research and development, Australian companies are well placed to develop partnerships with local researchers and become early adopters of, and investors in, this new technology."