Quantum computing to spark ‘cybersecurity armageddon,’ IBM says
GOVERNMENTS and businesses are not prepared for the havoc quantum computers will sow in cybersecurity by the end of the decade, according to an International Business Machines (IBM) executive.
“Is quantum going to really create a cybersecurity Armageddon?” Ana Paula Assis, IBM’s general manager of Europe, Middle East and Africa, said on a panel at the World Economic Forum in Davos on Wednesday (Jan 17). “It’s going to.”
Quantum computers, an emerging technology that vastly accelerates processing power by performing calculations in parallel rather than sequentially, will make existing encryption systems obsolete. IBM has developed many of the foundational technologies for the quantum era, which Assis said could arrive by 2030.
Some governments are beginning to take the threat seriously. The US Senate, in a rare unanimous vote, passed a bill in 2022 addressing the threat of quantum computers on cryptography.
Businesses are not equipped to utilise quantum machines or deal with the disruption they will cause, SandboxAQ chief executive officer Jack Hidary said on the panel.
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 said.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
He said a “trainwreck” is unfolding, estimating that it will take banks eight to ten years to transfer to post-quantum protocols, while scalable quantum computers will be available by 2029 or 2030. Anything that uses encryption, from ecommerce to online banking, is at risk, according to Hidary. BLOOMBERG
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Telcos, Media & Tech
TikTok tells advertisers: ‘We are not backing down’
Everything Apple plans to show at May 7 ‘let loose’ iPad event
Tech platforms make pitch for ad deals as TikTok is roiled by politics
Google, US clash over search advertising as trial winds down
Apple rallies most in 18 months on upbeat forecast, buyback
Microsoft adds security chiefs to product groups in wake of hacking woes