In this proposal, we intend to study novel 2D quantum systems relevant to future robust quantum technologies. This is of great importance for developing quantum computers, which will facilitate the simulation of large quantum systems exponentially faster than a classical computing machine and spintronic applications, where spin degrees of freedom of electrons are utilized for realizing fast and efficient information storage and processing. For these purposes, one needs first principles materials-specific theory to explore possible stable configurations of novel two-dimensional structures. In this project, we will focus on the general understanding of electronic spin splitting and splitting of magnon modes in 3D and 2D altermagnets with sophisticated electronic structure calculations based on density functional theory, extraction of magnetic exchange parameters and calculations of magnon spectra taking into account electron correlation effects and the effects of external agents such as strain and electric fields. Moreover, we will develop a python-based automated high-throughput computational platform to create a database of new stable 2D altermagnets. Also, we will perform large scale simulations using finite element method coupled with DFT to study non-collinear magnetism in twisted bilayers of 2D magnets. We will develop codes for calculations of charge and spin transport calculations including the effects of electron-phonon coupling based on tight-binding Hamiltonian with the parameters obtained from ab initio calculations. Several state-of-the-art codes (commercial and public domain) will be used for this project. A special emphasis will be given to test and use GPU-based architectures wherever possible.