Intel To Invest US$50 Million Towards Advanced Quantum Computing Research

5 Sep

By Mudit Mohilay, The Tech Portal

Corporations are known to frequently give science a push, by providing research with funds and other resources. Along the same vein, Intel Corporation today announced plans to invest $50 million over a period of ten years. The funding will focus mainly on the development of quantum computing.

Intel has also promised its own “engineering resources” in collaboration with QuTech, the quantum research institute of Delft University of Technology, which is also where the funding will be channeled through.

Speaking on the topic, the company said,

Intel will invest US$50 million and will provide significant engineering resources both on-site and at Intel, as well as technical support.

adding that,

Quantum computing is an area of research that [we’ve] been exploring because it has the potential to augment the capabilities of tomorrow’s high performance computers.

The area of research which Intel has chosen to sponsor certainly has relations with its own business affairs. However, if you look at it at a deeper level, a breakthrough in Quantum computing will have wide-reaching consequences for not just the company but for the rest of the world too. Quantum Computing has enormous potential for fields such as large-scale financial analysis and more effective drug development.

However, as per Company vice president Mike Mayberry, despite massive efforts, “a fully functioning quantum computer is at least a dozen years away.”

The company also emphasized the need for multinational corporations and organizations to work together and collaborate, in order to really accelerate progress in the field.

No one company or organization will succeed alone in unlocking the path to advanced quantum computing. Instead, partnerships – such as this one between Intel and the QuTech institute in Delft – and industry collaboration will help realize the promise of such a technically complex issue.

This is not the first time Intel has decided to invest in something which while not non-profitable or charity, certainly has the potential to change the world for the better. The company recently launched its new Skylake processor which according to it, will boost PC sales while also investing  $60 million in Chinese drone maker Yuneec, stating that drones will lead to a “smart and connected world.”

Intel’s CEO, Brian Krzanich, put out a separate statement which gives us a glimpse of what quantum computing is actually about and the challenges that lie ahead in the development of a functional Quantum Computer. He ended his dialogue with the following, inspiring statement,

Quantum computing holds the promise of solving complex problems that are practically insurmountable today, changing the world for the better. That’s a technology I think we’ll all be incredibly proud to play a part in developing.

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