Are We Truly Prepared For The Era Of Quantum Computing

Home » Cybersecurity » Are We Truly Prepared for the Era of Quantum Computing? With major tech names like IBM, Microsoft, Amazon and Google already rolling out quantum computing (QC) cloud services, it’s evident that the era of QC is upon us. Specialised firms like Quantinuum and PsiQuantum have achieved unicorn status, and experts predict that the global QC market could add as much as $1 trillion to the world’s economy by 2035. Despite this huge, predicted success, can we say with confidence that the benefits outweigh the risks? While these cutting-edge systems do hold the promise of revolutionising areas such as drug discovery, climate modelling and AI development, they also introduce serious cybersecurity challenges that need to be addressed. Fully functional quantum computers capable of breaking today’s encryption standards may still be several years away but these cybersecurity concerns are closer to home than we may realise.

QC has the potential to break encryption algorithms that have been previously considered ‘unbreakable’, posing a huge threat to modern-day cybersecurity. According to a survey by KPMG, around 78% of U.S. companies anticipate that quantum computers will become mainstream by 2030. More shockingly, 73% of U.S respondents believe it’s just a matter of time before cybercriminals start using QC to undermine current security measures. Modern encryption methods rely heavily on mathematical problems that classical computers cannot solve within a reasonable timeframe. For instance, factoring the large prime numbers used in RSA encryption would take a classical computer around 300 trillion years.

However, with the help of Shor’s algorithm, developed in 1994 to help quantum computers factor large numbers quickly, a powerful quantum computer could solve this encryption exponentially faster. There are benefits and risks to quantum computing. Image: Getty Images/iStockphoto In the dynamic realm of technology, quantum computing emerges as a transformative force. It offers the ability to tackle problems that classical computing can't handle, but it also presents a substantial risk to existing cryptographic systems, creating numerous uncertainties. Here, I explore the critical need to ready individuals, products and systems for a quantum-secure digital future, specifically addressing the challenges arising from quantum computing's capacity to compromise current cryptographic protocols.

Quantum computing, possessing unparalleled computational power, poses a significant risk to the cryptographic protocols safeguarding our digital realm. Current cybersecurity cornerstones, such as RSA and ECC algorithms, are vulnerable to quantum advancements. These risks are rapidly shifting from theoretical to tangible due to swift progress in quantum computing. Addressing these threats demands multifaceted efforts: developing new designs and implementing novel algorithms and protocols. This process necessitates specialized skills, substantial time and resources. With the urgency of these developments, it's imperative to act promptly, recognizing the extensive work that lies ahead.

The concept of quantum resistance is crucial in this context. It involves developing secure algorithms and protocols that can withstand attacks using quantum, classical computers and a combination of both. Quantum-resistant technologies are key to safeguarding IoT devices and ecosystems, ensuring data safety and protecting digital assets against these emerging threats. .chakra .wef-4hfq0n{line-height:var(--chakra-lineHeights-base);}What is the Forum doing to avert a cyber pandemic? The buzz around quantum computing is undeniable. And published reports regularly highlight surges in confidence and investment, with global quantum budgets projected to increase by nearly 20% in 2025.

A recent survey suggests that over 65% of organizations feel prepared to adopt quantum technology within the next 2-3 years. This paints a picture of an industry on the cusp of widespread adoption. But is this optimism truly reflective of the current situation, or are we getting ahead of ourselves? A recent survey is based on a survey of 770 quantum experts, researchers, and decision-makers, provides valuable insights into the industry. And other surveys conducted throughout 2024 (Results Released from the 2024 Unitary Fund’s Quantum Open Source Survey – Quantum Computing Report) have a similar demographic of participants. The survey reveals a strong belief in the potential of quantum computing across government, academia, and private sectors Neutral atoms and superconducting qubits are emerging as the most promising modalities for scalable applications.

The United States is perceived as the global leader in quantum adoption, driven by significant investment and innovation, which through our own work at GQI using our PESTEL Framework, we would agree with. However, a closer look at survey data reveals a more complex picture. While the headline figure of 65% preparedness is eye-catching, it’s crucial to consider the survey’s demographics. The largest group of respondents were academics, followed by quantum computing vendors (a total of 65% together), whereas users represented 12% of the survey. And this ‘user’ term is vague. This raises an important question: are the opinions of academics and vendors truly representative of the broader business community that would ultimately adopt quantum solutions?

It’s likely that those deeply involved in the technology would have a greater perception, and perhaps skewed view of readiness than true end-users who might be less familiar with the specific technical requirements and... In fact, we often hear how end-users are not quantum literate yet. Further analysis supports this view. Academic users anticipate a higher increase in both budget (21%) and usage (21.4%) compared to end-users (13.7% budget increase and 12.6% usage increase). This suggests that much of the current momentum is driven by research and development rather than immediate, practical applications. This distinction is critical as it highlights a potential disconnect between the enthusiasm of the research community and the actual preparedness of end-users to adopt quantum computing into their business processes.

A Rigetti quantum computer displayed at the Nvidia GTC in October. Step aside, artificial intelligence. Another transformative technology with the potential to reshape industries and reorder geopolitical power is finally moving out of the lab: quantum. The United Nations dubbed 2025 the International Year of Quantum Science and Technology. It’s been marked by a flurry of announcements — and a mountain of hype — around a mind-boggling field of science long dismissed as perpetually a decade away from usefulness. But that’s how people talked about AI, too, before ChatGPT spurred the current global arms race and investor euphoria.

Quantum computing has long been technology’s white whale. But in recent months, new developments suggest practical applications for this elusive technology could finally be within reach. “Quantum has been five to ten years away from fruition for many, many decades,” says McKinsey Partner Michael Bogobowicz. “Now it feels three to five years away.” In this episode of The McKinsey Podcast, Bogobowicz joins McKinsey Global Editorial Director Lucia Rahilly to discuss how quantum differs from conventional computing, what its potential... In our second segment we ask, what’s the most important factor in having a successful transformation? McKinsey Senior Partner Michael Bucy says it’s the CEO.

The McKinsey Podcast is cohosted by Lucia Rahilly and Roberta Fusaro. The following transcript has been edited for clarity and length. Lucia Rahilly: Let’s talk about what’s new on mckinsey.com. More on tariffs. We just published an article about the importance of establishing a nerve center that can help companies respond comprehensively and in real time.

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