A recent study by Bain & Company highlights a significant gap in corporate readiness to tackle the impending threats posed by quantum computing. Despite the rapid advancement of this technology, an alarming 90% of executives reported that their organizations lack a formal quantum security plan. This absence of preparation raises concerns as quantum-enabled attacks are anticipated to emerge as early as 2026, according to 71% of the surveyed leaders.
The consultancy firm, based in Boston, cautions that the journey to implement quantum-resistant solutions could take businesses up to five years. A blog post from Bain notes, “Organizations that are heavy with legacy infrastructure may be particularly vulnerable, and more attractive targets for attackers.” As quantum computing evolves, it threatens to unlock encrypted data that is currently deemed secure, creating potential vulnerabilities for businesses that fail to adapt.
Understanding the Threat Landscape
Bain’s research indicates that nearly 65% of professionals in business, IT, and cybersecurity acknowledge the risks associated with quantum technology and its likely negative impact on cybersecurity. Some organizations have begun addressing these challenges. For instance, Cloudflare has partnered with Google to enhance web security through post-quantum cryptography (PQC). Similarly, Viavi Solutions is developing frameworks for deploying quantum-safe security across both telecom and enterprise networks.
Despite these proactive steps, Bain emphasizes that companies must begin preparations immediately rather than waiting three to five years. The firm urges, “Boards and executives should prioritize and resource the necessary work to guard against this rising threat before it’s too late.”
Industry Insights and Concerns
These findings align with previous analyses regarding quantum computing’s anticipated effects on the cybersecurity landscape. A survey from ISACA, published in May 2023, involved around 2,600 global IT and cybersecurity professionals. It revealed that 62% expressed concern about quantum computing’s ability to compromise encryption, while over half cited the emergence of new business risks. Alarmingly, 40% of respondents were unaware of their organizations’ plans to address quantum threats, and 41% indicated there were no current plans in place.
Although roughly one-quarter of ISACA respondents believe quantum computing will materialize on an industry-wide scale within the next five years, only 5% consider addressing quantum threats a high priority.
Rob Clyde, former ISACA board chair and current chairman of Crypto Quantique, warned in a blog post, “If we don’t move now to start solving issues like re-encrypting our data, switching to new digital signatures and moving our systems over to new algorithms, we are creating problems that will become increasingly difficult to address.”
As quantum technology advances, the urgency for businesses to develop robust security measures has never been clearer. With the clock ticking, executives must act decisively to safeguard their organizations against potential threats that could arise sooner than anticipated.
