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The looming threat of quantum computing poses an unprecedented challenge to governments and businesses globally, potentially leading to a cybersecurity Armageddon by the end of this decade, according to Ana Paula Assis, IBM’s General Manager for Europe, Middle East, and Africa, reported by Bloomberg.
Speaking at the World Economic Forum in Davos, Assis highlighted the disruptive potential of quantum computers, a revolutionary technology capable of performing parallel calculations, rendering existing encryption systems obsolete.
A laser tests the optical waveguide of a chip for quantum computing in a laboratory at the technology company Q.ant in Stuttgart, southern Germany, on September 14, 2021. The company works on chips with customized waveguides for optical data processing, that are “considered the central building block for bringing quantum technologies out of the labs and into everyday products”, according to the Q.ant.
Vulnerability of Encryption Mechanisms
As quantum computing advances, it raises concerns about the vulnerability of current encryption mechanisms, prompting governments to consider the potential risks.
In the U.S., the Senate took a significant step in addressing the quantum threat by passing a bill in 2022 with unanimous support, signaling a recognition of the urgency to safeguard cryptography against quantum advancements.
However, Assis emphasized the lack of preparedness among businesses to cope with the impending disruption caused by quantum machines. Jack Hidary, CEO of SandboxAQ, echoed these concerns, stating that many companies lack a robust roadmap for integrating artificial intelligence (AI) and quantum technologies to address core issues.
Hidary warned of a potential “trainwreck,” estimating an eight to ten-year transition for banks to adopt post-quantum protocols, coinciding with the anticipated availability of scalable quantum computers by 2029 or 2030. Industries relying on encryption, such as e-commerce and online banking, face significant risks as quantum computing progresses.
In a broader context, the panel discussion touched upon China’s formidable efforts in quantum computing, emphasizing a robust and confident pursuit of advancements in this critical field.
Joel Mesot, President of ETH Zurich, suggested that states might find it more feasible to regulate quantum computers compared to AI, given the former’s dependency on infrastructure. He expressed optimism about the potential for effective regulation in the realm of quantum computing.
Additional insights from the panel revealed that the development of quantum computing is outpacing initial projections, indicating the rapid evolution of this technology. Notably, two-thirds of developers using quantum computers rely on IBM’s open-source toolkit Qiskit to write their code, showcasing IBM’s influence in the quantum computing landscape.
Read Also: US Department of Energy Announces $11.7 Million Investment for Research on Quantum Computing
Concerns About the Weaponization of Quantum Computing
In a related development from October 2023, the European Commission and the United Nations raised concerns about the weaponization of critical technologies, including quantum computing.
The EU was alarmed by the potential military applications and economic threats posed by quantum computing. So, it initiated risk assessments in collaboration with member states.
The assessments aim to identify potential risks associated with AI, quantum computing, semiconductors, and biotechnology, reflecting a global effort to address the geopolitical implications of these advancements.
As the quantum computing landscape evolves rapidly, the world grapples with the need for strategic preparedness and regulatory frameworks to navigate the transformative impact of this groundbreaking technology.
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