Canadian Prime Minister Justin Trudeau announced a new federal investment to build and commercialize the world’s first quantum computer based on photons and fault tolerance.

According to a press release issued by the Prime Minister’s website, the investment amount of 40 million Canadian dollars (32 million US dollars) will enable the Canadian company “Xando” for quantum technologies to develop a quantum computer that will have the ability to provide world-leading capabilities to help solve complex data problems and can be used in a variety of sectors such as finance, transportation, environmental modeling and health, reports Al-Rai daily.

The statement said that this project, which is supported by the government’s Strategic Innovation Fund, is expected to create 530 new jobs for people with high skills in the fields of high-tech and quantum computing. The cost of the project is 177.8 million Canadian dollars (142 million US dollars).

Earlier this month, Canada launched its National Quantum Strategy, which will invest an additional C$360 million ($288 million) to help establish Canada as a global leader in quantum technologies.

Read Today's News TODAY... on our Telegram Channel click here to join and receive all the latest updates