Forget ransomware – most firms think quantum computing is the biggest security risk to come
- Quantum computers will soon be able to break modern-day encryption
- When that happens, nation-states can abuse the tech to steal sensitive files
- Organizations need to prepare today, Capgemini says
Sooner or later, quantum computers will be able to break through today’s encryption, and when that happens, critical industries such as defense, critical infrastructure, telecommunications, and others, will be at risk of nation-state attackers with enough resources to use the advanced tech for nefarious purposes such as espionage or data theft, research has warned.
In fact, many nation-states are likely harvesting encrypted data already, in preparation of that “Q-day” moment – an attack dubbed “harvest now, decrypt later”.
A new report from the Capgemini Research Institute surveyed 1,000 organizations with annual revenue of at least $1 billion across 13 sectors and 13 countries in Asia–Pacific, Europe, and North America, finding the majority of the respondents (around 70%) are referred to as “early adopters” – meaning they’re either working, or planning to work on quantum-safe solutions, within the next five years.
Harvest now, decrypt later
Capgemini’s researchers found that two-thirds (65%) of respondents are already concerned about the rise of “harvest-now-decrypt-later” attacks, with one in six early adopters believing “Q-day” will happen within the next five years.
Even more, around 60%, believe Q-day will happen within a decade from now.
To mitigate the risk, businesses in vital industries should transition to post-quantum protections as soon as possible.
“Transitioning early ensures business continuity, regulatory alignment, and long-term trust,” said Marco Pereira, Global Head of Cybersecurity, Cloud Infrastructure Services at Capgemini.
“Quantum safety is not a discretionary spend but a strategic investment, which can turn a looming risk into a competitive advantage. The organizations that recognize this fact early will best insulate themselves against future cyber-attacks.”
The report also states that most organizations surveyed (70%) are already protecting their systems against emerging quantum threats through a mix of post-quantum cryptographic algorithms.
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