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Changes to ANZSCO should help the IT sector. Photo: Shutterstock

Australias IT industry has the chance to better target visa policies and industry development activities by using the updated official Australian Bureau of Statistics (ABS) skills list to ensure official skills classifications reflect contemporary technologies.

The overhaul of the Australian and New Zealand Standard Classification of Occupations (ANZSCO) a classification system for modelling the local job market that was last fully updated in 2013 comes nearly a year after a Parliamentary committee recommended that the system be replaced with an alternative that is more flexible to adapt to emerging labour market needs.

Given that ANZSCO is used to formulate visa policy for skilled migrants in specific industries, that review highlighted the challenges presented by overbroad skills classifications that didnt allow visas to be properly targeted.

In a time where the IT industry is crying out for skills related to important new technologies such as cloud computing, blockchain, cyber security, quantum computing, and more, the ICT industrys myriad job roles are still grouped into just a few categories.

These include Business and Systems Analysts, and Programmers (ANZSCO Group 261); Database and Systems Administrators, and ICT Security Specialists (262); ICT Network and Support Professionals (263); and ICT and Telecommunications Technicians (313).

Those old descriptors, which were created in a time where technologies like cloud computing and smartphones were in their infancy, only vaguely align with many of todays most in-demand subject areas which include emerging technologies like cloud architectures and mobile app development.

Failure to focus skills development efforts has left companies largely filling roles with a limited pool of contractors demanding ever-increasing salaries for ever harder-to-find skills.

That situation recently drove Department of Industry, Science, Energy and Resources (DISER) secretary David Fredericks to declare Australias ICT sector fundamentally a contractor-based industry that relies on that talent pool to deal with a wave of work that is coming through the grants process.

ANZSCO for the better

Ensuring that official skills lists reflect the current job market and industry requirements may be important for funding and industry development, but the ICT industrys rapid pace has made it a moving target for government instruments like ANZSCO and the Skilled Occupation List (SOL), which regularly run up to a decade behind industry practice.

Despite recognising in August 2018 that a review of the classification is desirable, the ABS put its ANZSCO overhaul on the back burner to focus its resources on the 2021 Australian Census.

Early last year, the ABS began exploring options for a phased approach to updating ANZSCO after announcing that it had necessary support and resourcing to explore new ways of classifying jobs in cyber security, agriculture, forestry, fisheries, and naval shipbuilding.

This dovetailed with work already being undertaken by ACS, which in mid-2020 revised its approach to classifying cyber security jobs so that applications for skilled migration visas could be properly assessed against cyber security-specific criteria.

It is also canvassing opinions about a new way of maintaining ANZSCO trialled over the past year that would eschew infrequent major updates for more regular, staged reviews of industry capabilities conducted with relevant industry bodies.

In November, the ABS released a partial, Australia-only update of ANZSCO that reflected the fruits of this approach, introducing changes in several areas including priority emerging occupations and new codes for cyber security specialisations that were previously lumped under one ANZSCO code (262112).

The updated ANZSCO now lists the likes of Cyber Security Engineer (261315), Devops Engineer (261316), Penetration Tester (261317), Cyber Governance Risk and Compliance Specialist (262114), Cyber Security Advice and Assessment Specialist (262115), Cyber Security Analyst (262116), and more allowing recruiters, migration specialists and others to better address the cyber security skills gap by offering visas for those specific roles.

That update represents the first incremental step of a larger program of work, the ABS said at the time and with the release of the first major data sets from the 2021 Census finally behind it, the organisation is now diving into the full ANZSCO overhaul.

In 2021, the ABS trialled a new, targeted approach to updating ANZSCO, ANZSCO Review director Chris Hinchcliffe said, noting that the ABS is now accepting submissions about the new approach and will be taking a similar approach to reclassifying construction-industry roles.

The ABS continues to develop the new approach to maintaining ANZSCO to reflect the contemporary labour market and better meet stakeholders needs, Hinchcliffe said. Feedback will determine a set of proposed changes [and] assist with planning future updates to ANZSCO.

Continue reading here:
ANZSCO update to help IT sector - ACS

Countries designate technologies as strategic for a variety of reasons. Some technologies are regarded as an engine for economic growth, others as a way to reduce dependence on foreign suppliers, a defensive measure, a path to gain economic or national security advantages, or even serve as leverage during times of conflict. Weve seen this play out with satellites, cellular networks, atomic energy, chip manufacturing and more.

Quantum computing is a new strategic technology with wide-reaching implications. The ability to solve problems and perform calculations that no existing classical computer can, or ever will be able to, opens a plethora of strategic opportunities and challenges.

Much attention has been focused on decryption using quantum computers. The worlds financial systems and many computer networks are protected by an encryption scheme that was once considered unbreakable. And indeed, it would take classical computers many years to break it. But a powerful-enough quantum computer could crack the code in a few hours. Suddenly, bank accounts, health records, and other sensitive information could be left exposed, with untold consequential damages. Though quantum computers that can break the code might not be available for another 5 to 10 years, bad actors are already recording sensitive encrypted information so theyre ready to decrypt it in the future. Even when considering blockchain, public-to-public-key and reused public-to-public-key-hash addresses are vulnerable to quantum attacks, raising concerns about bitcoin and contracts that are secured by the blockchain.

Those same quantum computing technologies can also act as a strong defensive measure. Many organizations are using quantum technology, and specifically, quantum key distribution, to create encryption schemes that are much more difficult to break or gain access to.

But while companies should indeed consider the positive and negative impact of quantum computers on their encryption and communication systems, they should also be aware that they can gain strategic leverage from superior quantum computing technology.

Quantum can be a game-changing differentiator when working with huge data sets, models that have numerous variables yet exhibit a high rate of change over time. This can apply to moonshot projectscuring cancer, decoding the human genebut also to everyday problems such as optimizing shipping routes or balancing personal stock portfolios.

Take, for instance, energy storage. Quantum computers excel at simulating chemical and pharmaceutical compounds. This is because chemical interaction is done at the quantum physics level, andas Noble Laureate Richard Feynman noted 40 years agoa quantum system is the best choice to simulate quantum phenomena. Powerful quantum computers, and the software that drives them, can be used to develop superior batteries with higher efficiency, lower weight, and higher capacity. Since batteries represent about 30% of the cost of an electric vehicle and play a critical role in its usefulness, leadership in battery technology could translate to leadership in the electrification of vehicles, energy storage for buildings and more.

Machine learning is another example. Whether to improve conversational AI, solve protein-folding problems or analyze images and videos, countries that develop leading ML capabilities gain strategic advantages. Quantum computing offers dramatic new ML opportunities. They stem from the ability of a quantum computer to load much more information than classical ones, execute numerous calculations simultaneously and use these capabilities to uncover new and meaningful data patterns.

That unique quantum ability to perform numerous calculations in parallel, as opposed to sequentially, comes in handy for better weather forecasting, more accurate assessment of financial risk and the ability to streamline the supply chain, optimize traffic and improve the dynamic allocation of shared resources, such as cellular spectrums.

Many countries understand this. Indeed, we are seeing a global quantum arms race, bearing similarities to the space race of decades ago. China, for instance, is reportedly investing $10 billion in a national quantum program. The European Union has pledged significant amounts in addition to what member-states are pledging individually. The US committed $1.2 billion as part of the National Quantum Initiative, followed by another $1 billion in National Science Foundation funding for AI and quantum centers. Many additional countries including Russia, Japan, India, Germany and France have created their own national quantum programs.

Given the strategic and wide-ranging consequences of superior quantum computing capacity, it is fair to ask what constitutes technical superiority. We look at two key components: hardware and software. Quantum computing hardware is about exploring new ways to create high-quality quantum bits or qubitsand integrating them into machines with larger capacity and higher computational accuracy. But this hardware will be useless without software that allows researchers to quickly translate their algorithms into the low-level instructions that quantum computers need to operate. Yet this quantum circuit creation is done nearly manually today, very close to the hardware itself. But as computers become larger and more powerful, it will become impossible for humans to cope with the scale and complexity of quantum circuitsunless they harness new breakthroughs in software development platforms.

Conventional computing capabilities are limited: you have to break the data into 1s and 0s. Quantum changes that and thus opens many opportunities that can look at multiple variables simultaneously.

Attaining and retaining strategic advantages requires long-term planning and focused execution. Analysts say that the U.S. lost the 5G war to China. Can the US afford to lose the quantum race as well? What if China or another nation unveiled tomorrow morning a scientifically-credible demonstration of a computer that cracks financial encryption or accurately simulates a complex molecule? Overnight, the world will feel completely different.

Here are four ways countries can increase their chances of winning the race:

We are at a critical juncture. Lets not wait for the quantum equivalent of a Sputnik moment. Rarely does a new technology come along that provides those who can harness it with this level of power.

Now is the time to grab the quantum bull by the horns. Our children and grandchildren will thank us for it.

Adm. Mike Rogers is the former head of U.S. Cyber Command and the National Security Agency. Nir Minerbi is theCEO and co-founder at quantum software providerClassiq.

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The Quantum Computing Arms Race is not Just About Breaking Encryption Keys - Nextgov

Concerns over the 40-year high inflation and hawkish federal reserve have pushed the benchmark indices into the bear market territory. Bearish sentiment is still widespread, and the market is likely to continue to feel the pressure in the near term as well.

The overwhelming mentality remains gloomy, with most people just trying to avoid bear-market rallies, convinced the SPX has several hundred points of further downside over the coming months, wrote Adam Crisafulli of Vital Knowledge.

However, certain financially robust stocks possess solid upside potential and might perform well in the long run. And staying invested is important, or one can miss out on long-term returns.

Despite the market downturns, Wall Street analysts believe IonQ, Inc. (IONQ) and Rigetti Computing, Inc. (RGTI) could rally by more than 160% in the near term. Thus, these stocks could be worth adding to your watchlist.

IonQ, Inc. (IONQ)

IONQ engages in the development of general-purpose quantum computing systems. The company offers access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS), Amazon Braket, Microsofts Azure Quantum, and Googles Cloud Marketplace.

On May 17, 2022, IONQ launched IonQ Forte, its latest generation of quantum systems. Forte features acousto-optic deflector (AOD) technology, which nullifies noise and overcomes variations in ion position, which is critical for scaling quantum computers. Given the growing quantum computing market, the company should benefit from this development.

Furthermore, on June 23, 2022, IONQ announced its partnership with GE Research to explore the benefits of quantum computing concerning risk management. This collaboration is expected to achieve record feats in quantum computing.

For the first quarter ended March 31, 2022, IONQs revenue came in at $1.95 million, up 1,462.4% year-over-year. Its net loss decreased 42.4% year-over-year to $4.23 million, while its loss per share came in at $0.02, down 66.7% year-over-year. Moreover, its cash and cash equivalents came in at $86.75 million, up 144.2% year-over-year.

IONQs revenue is expected to increase 406.9% year-over-year to $10.64 million in 2022. Its EPS is expected to grow 20% per annum for the next five years.

IONQ declined 26.1% over the past month, closing the last trading session at $4.38. However, Wall Street analysts expect the stock to hit $11.50 soon, indicating a potential upside of 162.6%.

Rigetti Computing, Inc. (RGTI)

RGTI operates as an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated into various public, private, or hybrid clouds through its Quantum Cloud Services platform.

On June 21, 2022, Rigetti UK Limited, a wholly-owned subsidiary of RGTI, announced the launch of its 32-qubit Aspen-series quantum computer in the UK. Chad Rigetti, RGTIs founder and CEO, said, We believe deploying our first UK-based quantum computer is a major step towards our vision to integrate QPUs into the fabric of the cloud.

RGTIs net cash provided by financing activities came in at $213.44 million for the first quarter ended March 31, 2022, up 1,674.9% year-over-year. Its cash and restricted cash came in at $206.94 million, up 609.2% year-over-year.

RGTIs revenue is expected to grow 123.7% year-over-year to $12.40 million in 2022. Its EPS is estimated to grow 60.3% in 2022.

RGTI shares have slumped 45% over the past three months closing the last trading session at $3.67. However, Wall Street analysts expect the stock to hit $11.50 soon, indicating a potential upside of 213.4%.

IONQ shares were trading at $4.34 per share on Friday afternoon, down $0.04 (-0.91%). Year-to-date, IONQ has declined -74.01%, versus a -20.15% rise in the benchmark S&P 500 index during the same period.

Riddhima is a financial journalist with a passion for analyzing financial instruments. With a master's degree in economics, she helps investors make informed investment decisions through her insightful commentaries. More...

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IONQ: Wall Street Analysts Predict More Than 160% Upside in These Stocks - StockNews.com

Quantex is the first of its kind Quantum Resistant Exchange, Wallet & Blockchain using dual-layer post-quantum signatures and quantum-resistant algorithmic encryption technology. The platform launched Quantum-resistant exchange, wallet, and blockchain for all defi needs.

London, United Kingdom, 1st Jul 2022, King NewsWire, Quantex is a newly launched crypto platform in the industry. It functions as a licensed digital asset exchange and custodian, where holders can buy, sell, and store digital assets in a regulated, secure, and compliant manner.

In addition, Quantex is a quantum-resistant exchange, wallet, and blockchain for all the defi needs of crypto enthusiasts. It introduces a future-proof solution to hacking and vulnerabilities. The introduction of quantum computing constitutes a new paradigm shift for blockchain technology. It promises both problems and opportunities for the sector.

Quantex is a next-generation platform with security features against current cryptographic threats. It comes with a suite of solutions that provide safe digital asset custody. Quantex also allows for safe interactions with private and public post-quantum blockchains.

Visithttps://quantex.host/for further information.

Organization: Quantex

Contact Person: Media Relations

Email: Send Email

City: London

Country: United Kingdom

Website: https://quantex.host/

The post Quantex establishes the first of its kind Quantum Resistant Exchange and a crypto wallet. appeared first on King Newswire.

Information contained on this page is provided by an independent third-party content provider. Binary News Network and this Site make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact [emailprotected]

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Quantex establishes the first of its kind Quantum Resistant Exchange and a crypto wallet. - Digital Journal

Australian scientists have created the world's first-ever quantum computer circuit one that contains all the essential components found on a classical computer chip but at the quantum scale.

The landmark discovery, published in Nature today, was nine years in the making.

"This is the most exciting discovery of my career," senior author and quantum physicist Michelle Simmons, founder of Silicon Quantum Computing and director of the Center of Excellence for Quantum Computation and Communication Technology at UNSW told ScienceAlert.

Not only did Simmons and her team create what's essentially a functional quantum processor, they also successfully tested itby modeling a small molecule in which each atom has multiple quantum states something a traditional computer would struggle to achieve.

This suggests we're now a step closer to finally using quantum processing power to understand more about the world around us, even at the tiniest scale.

"In the 1950s, Richard Feynman said we're never going to understand how the world works how nature works unless we can actually start to make it at the same scale," Simmons told ScienceAlert.

"If we can start to understand materials at that level, we can design things that have never been made before.

"The question is: how do you actually control nature at that level?"

The latest invention follows the team's creation of the first ever quantum transistor in 2012.

(Atransistoris a small device that controls electronic signals and forms just one part of a computer circuit. An integrated circuit is more complex as it puts lots of transistors together.)

To make this leap in quantum computing, the researchers used a scanning tunneling microscope in an ultra-high vacuum to place quantum dots with sub-nanometer precision.

The placement of each quantum dot needed to be just right so the circuit could mimic how electrons hop along a string of single- and double-bonded carbons in a polyacetylene molecule.

The trickiest parts were figuring out: exactly how many atoms of phosphorus should be in each quantum dot; exactly how far apart each dot should be; and then engineering a machine that could place the tiny dots in exactly the right arrangement inside the silicon chip.

If the quantum dots are too big, the interaction between two dots becomes "too large to independently control them", the researchers say.

If the dots are too small, then it introduces randomness because each extra phosphorus atom can substantially change the amount of energy it takes to add another electron to the dot.

The final quantum chip contained 10 quantum dots, each made up of a small number of phosphorus atoms.

Double carbon bonds were simulated by putting less distance between the quantum dots than single carbon bonds.

Polyacetylene was chosen because it's a well-known model and could therefore be used to prove that the computer was correctly simulating the movement of electrons through the molecule.

Quantum computers are needed because classical computers cannot model large molecules; they are just too complex.

For example, to create a simulation of the penicillin molecule with 41 atoms, a classical computer would need 1086 transistors, which is "more transistors than there are atoms in the observable universe".

For a quantum computer, it would only require a processor with 286 qubits (quantum bits).

Because scientists currently have limited visibility as to how molecules function at the atomic scale, there's a lot of guess work in the creation of new materials.

"One of the holy grails has always been making a high temperature superconductor," says Simmons. "People just don't know the mechanism for how it works."

Another potential application for quantum computing is the study of artificial photosynthesis, and how light is converted to chemical energy through an organic chain of reactions.

Another big problem quantum computers could help solve is the creation of fertilizers. Triple nitrogen bonds are currently broken under high temperature and pressure conditions in the presence of an iron catalyst to create fixed nitrogen for fertilizer.

Finding a different catalyst that can make fertilizer more effectively could save a lot of money and energy.

Simmons says the achievement of moving from quantum transistor to circuit in just nine years is mimicking the roadmap set by the inventors of classical computers.

The first classical computer transistor was created in 1947. The first integrated circuit was built in 1958. Those two inventions were 11 years apart; Simmons' team made that leap two years ahead of schedule.

This article was published in Nature.

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A Huge Step Forward in Quantum Computing Was Just Announced: The First-Ever Quantum Circuit - ScienceAlert