Ericsson Canada (NASDAQ: ERIC) announced on Monday it established a new Quantum research hub in Montreal as part of its global quantum research agenda.
The hub will be established as a three-way partnership with the University of Ottawa and the Université de Sherbrooke. It will be used for research exploring quantum-based algorithms for boosting processing power in telecommunications networks and distributed quantum computing.
Ericcson will pair its researchers with post-doctoral fellows at the universities to carry out fellowships at Ericsson in support of the quantum research projects. Also it will provide academic challenges, telecom and networking competence and facilities to conduct the research.
“It’s our hope that this first-of-its-kind program and partnership with the University of Ottawa and the University of Sherbrooke will help translate quantum research into commercial innovations that generate economic benefits and support the adoption of made-in-Canada solutions by businesses,” said Jeanette Irekvist, president of Ericsson Canada,
“This will foster our mutual strength in quantum research, innovation and commercialization, and the growth and success of the Canadian ecosystem.”
Research nonprofit Mitacs will support the training, retention, and deployment of qualified personnel in quantum science and technology through internships. Consequently, interns will work with researchers at Ericsson Canada and the universities.
Subsequently, quantum-based algorithms can help make computing faster and more efficient. They take advantage of special properties of quantum computing to solve complex problems faster than regular computers.
Quantum algorithms can use connections between particles that are too small to see, called quantum entanglement, to find answers faster.
They can also use a phenomenon called quantum tunnelling which solves complex problems faster and more efficiently than traditional computing.
Our long-term & incredible client @ericsson @EricssonNetwork has established a first-of-its-kind Quantum Research hub in Montreal,🇨🇦. 👏 🎉
The first two collaborations are announced with the @uOttawa and the @USherbrooke. #quantum #innovation #researchhttps://t.co/S6COG6Z3NH— Prospectus Associates (@ProspectusAssoc) March 20, 2023
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Quantum industry will account for 209,200 jobs by 2045: study
The quantum sector will be essential for driving Canada’s economy, technology and growth, as technologies mature and more areas of the economy look to leverage quantum capabilities. The Canadian quantum industry will be worth $139 billion and account for 209,200 jobs by 2045 according to a study commissioned by the National Research Council in 2020.
“Quantum science is on a steady course to deliver mature technologies in the mid to long-term,” said Stefanos Kourtis, assistant professor of the Université de Sherbrooke and Institut quantique.
“Our research is focused on the short term instead. What we ask is: can we harness quantum principles to accelerate information processing today? That means coming up with hybrid quantum-classical and quantum-inspired protocols that do not depend on large fault-tolerant quantum processors.”
Ericsson Canada has been helping Canadians develop their innovation ecosystem and research and development capabilities for seven decades. It is among the top 13 R&D spenders in Canada, spending an average of $345 million per year. It also holds over 2000 patents out of a global repertoire of 60,000. Ericsson Canada has 3,100 employees in 5G research and development centres in Montreal, Ottawa and Toronto.
Ericsson shares are trading at $5.34 on the NASDAQ exchange.
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