The Globe and Mail reports in its Tuesday edition that Royal Bank of Canada has created a new role to lead its quantum computing strategy and struck two partnerships with Canadian universities as global lenders accelerate their development and adoption of the technology. The Globe's Stefanie Marotta writes that governments and major companies have been racing to invest in and commercialize quantum computing, a technology that uses the mechanics of quantum physics to solve complex problems that even supercomputers cannot untangle. Dr. Elizabeth Iwasawa joined RBC as its first director of quantum strategy. She will lead researchers and developers and oversee the development of the bank's quantum strategy. The bank also signed two multiyear partnerships with the University of Waterloo and University of Toronto to help drive the bank's growth in quantum and develop talent in the field. The bank is also working with Xanadu -- a Toronto quantum computer developer that went public in March -- to hold a work force training program focused on teaching quantum application development using Xanadu's open source frameworks. Ottawa launched a $360-million quantum strategy in 2023; other countries, however, are committing billions.