Quantum Computing Poses Looming Threat to Cybersecurity, IBM Warns

Davos, Switzerland – Governments and businesses worldwide are ill-prepared to face the impending cybersecurity challenges posed by the rapid advancement of quantum computing technology, according to a prominent executive from International Business Machines Corp (IBM).

During a panel discussion at the World Economic Forum in Davos, Ana Paula Assis, IBM’s General Manager for Europe, Middle East, and Africa, issued a stark warning about the potential consequences of quantum computing. “Is quantum going to really create a cybersecurity Armageddon?” she questioned. “It’s going to.”

Quantum computers, characterized by their ability to perform complex calculations in parallel rather than sequentially, have the potential to render existing encryption systems obsolete. IBM, a pioneer in quantum technology, has played a pivotal role in laying the foundations for the quantum era, which Assis believes could become a reality by the year 2030.

While some governments are starting to recognize the gravity of the threat, such as the unanimous passage of a bill addressing quantum computer risks in the US Senate in 2022, businesses are lagging behind in terms of preparedness. Jack Hidary, CEO of SandboxAQ, stressed the unpreparedness of most companies to utilize quantum machines or mitigate the disruptions they may bring.

“Most companies do not have a robust roadmap yet as to how they’re going to use AI and quantum together to solve core problems,” Hidary pointed out, underscoring the potential for a crisis. He predicted that it could take banks eight to ten years to transition to post-quantum protocols, while scalable quantum computers could become available as early as 2029 or 2030. This poses a significant risk to any system employing encryption, from e-commerce platforms to online banking services.

Additional insights shared during the panel discussion revealed China’s significant investments and advancements in quantum computing, highlighting the nation’s commitment to the field. Joel Mesot, President of ETH Zurich, emphasized the importance of state regulation in managing quantum computers due to their infrastructure-dependent nature, suggesting it might be more manageable than regulating artificial intelligence.

Hidary concluded by noting that quantum computing is advancing more rapidly than previously projected. Furthermore, IBM’s open-source toolkit Qiskit plays a vital role, with approximately two-thirds of quantum developers relying on it to write their code, as disclosed by Assis. As the quantum era approaches, the urgency for comprehensive cybersecurity strategies grows, emphasizing the need for collaborative efforts among governments and businesses to safeguard digital infrastructure.