Quantum is coming — and bringing new cybersecurity
The quantum-computing revolution is upon us — a paradigm shift in computing power that harnesses the laws of quantum mechanics to solve problems far too complex for today’s classical digital computers.
Quantum computers apply the unique behavior of quantum physics to computing, introducing unprecedented capabilities to traditional programming methods. From transforming drug research, energy use, manufacturing, cybersecurity and communications to enhancing AI applications, autonomous-vehicle navigation, financial modelling and more — quantum is poised to unlock a new reality.
The emerging quantum-computing industry is already making enormous advances — as more organisations discover its potential, the global market is expected to hit US$50 billion by the end of this decade.1 Major technology companies are rapidly developing their quantum capabilities — Amazon, IBM, Google and Microsoft, for example, have already launched commercial quantum-computing cloud services, and there are significant investments in new players such as Quantinuum and PsiQuantum.
KPMG in Canada surveyed 250 large corporations and found that about 60 percent of organisations in Canada and 78 percent in the US expect quantum computers to become mainstream by 2030.2 But as quantum proliferates, so do concerns about its potential impact on cybersecurity.
Most businesses surveyed are “extremely concerned” about quantum computing’s potential to break through their data encryption. Sixty percent in Canada and 73 percent in the US believe “it’s only a matter of time” before cybercriminals are using the power of quantum to decrypt and disrupt today’s cybersecurity protocols. At the same time, however, 62 percent in Canada and 81 percent in the US admit that they need to do a better job of evaluating their current capabilities to ensure their data remains secure. 3
KPMG Australia research shows that protecting data and dealing with cyber risks is viewed by C-suite executives and board members from private sector enterprises as a top challenge in 2024 — and for the next 3 to 5 years.4
KPMG in Germany conducted research in collaboration with Germany’s Federal Office for Information Security (BSI), 95 percent of respondents believe quantum computing’s relevance and potential impact on today’s cryptographic security systems is “very high or high,” and 65 percent also say the average risk to their own data security is “very high or high.” Yet only 25 percent of firms say the threat posed is currently being addressed in their risk management strategy.5
