Singapore’s Major Investment in Quantum Technology

Singapore is set to make a substantial investment in quantum technology, as announced by Deputy Prime Minister Heng Swee Keat at a recent summit. The government will allocate nearly S$300 million to drive research and development in the field over the next five years, marking the largest single investment in this area to date. This new funding builds on the more than S$400 million already spent since 2002.

The investment will target four key areas, including the design and construction of quantum processors. Professor José Ignacio Latorre, director of the National University of Singapore’s Centre for Quantum Technologies, highlighted the competitive nature of the quantum computing race and Singapore’s advantageous position. “Singapore is fantastically positioned in this space because Singapore started to work in quantum technologies 17 years ago,” he said.

Quantum computers differ from classical computers by using “maybes” in their calculations, which allows them to tackle problems beyond the capabilities of traditional computers. This technology has potential applications in various sectors, such as biotechnology, where it can model diseases and aid in the development of advanced medicines, and finance, where it can handle complex calculations.

In addition to enhancing hardware, the investment will also focus on developing talent. A national research and development centre will oversee the efforts, and around 200 PhD and master-level scholarships will be offered to support this initiative.

Industry experts believe that embracing quantum technology could provide Singapore with a significant economic advantage. “All the countries that are not betting on quantum technologies will simply be behind,” said Prof Latorre. “This investment is key to maintaining Singapore at the top level of countries that develop quantum technologies.”

This significant investment underscores Singapore’s commitment to staying at the forefront of technological innovation and maintaining its competitive edge in the global economy.