Quantum computing’s rapid rise is a huge opportunity but also a genuine risk to cybersecurity and business stability. There has been an increased focus on the quantum threat recently but most enterprises are unprepared, according to new research from ISACA’s global Quantum Computing Pulse Poll. While 62 percent of technology and cybersecurity professionals are worried that quantum computing will break today’s encryption, only 5 percent say it’s a high priority for the near future, and just 5 percent say their organizations have a defined quantum computing strategy.
More than 2,600 global professionals in digital trust, cybersecurity, IT audit, governance, and risk were surveyed in this inaugural ISACA poll on the perceptions and preparations around quantum computing.
The potential for both transformation and risk
Quantum computing has revolutionary potential says ISACA; however, there are also clear concerns about the risks it presents. Nearly half (48 percent) are very or somewhat optimistic about quantum computing’s impact in their sector/industry, 63 percent believe it will speed up computational tasks or data analysis significantly, and 46 percent say it will create revolutionary innovations.
However, many anticipated outcomes of quantum require significant preparation:
- 63 percent say quantum will increase or shift cybersecurity risks
- 57 percent say it will create new business risks
- 52 percent say it will change the skills needs of businesses
- 50 percent say it will present regulatory and compliance challenges.
62 percent of survey respondents are worried about quantum computing breaking today’s Internet encryption before browsers and websites fully implement the new post quantum cryptography algorithms approved by NIST. They are also focused on the potential for cybercriminals to start collecting encrypted data now and decrypt it once quantum computing becomes viable — with 56 percent citing the practice, known as ‘harvest now, decrypt later’, as a concern.
Many organizations underestimate the rapid advancement of quantum computing and its potential to break existing encryption. They need to start examining whether they have the expertise to implement post-quantum cryptography solutions now, to ensure they are able to effectively mitigate its impacts.
Jamie Norton, ISACA board director and partner, McGrathNicol
Despite expected impacts, planning continues at a slow pace
Despite concerns about its potential impacts, it appears many organizations have not yet mobilized to prepare for these coming changes. 40 percent are not aware of their company’s plans, and 41 percent say they do not plan to address quantum computing at this time — even though 25 percent believe that the transformative potential of quantum computing will be realized on an industry-wide scale within the next five years, and 39 percent feel it will happen in six to 10 years.
When asked about how their organization views quantum computing within its current technology or innovation strategy:
- 5 percent consider it a high priority for near-term planning
- 15 percent say it is on their long-term roadmap but not a near-term priority
- 19 percent say they have discussed it but not made any formal plans
- 37 percent have not discussed quantum computing at all
- 24 percent don’t know.
Additionally, only 7 percent of the poll respondents say they have a strong understanding of the new National Institute of Standards and Technology (NIST) standards, even though NIST has been working on them for more than 10 years. 44 percent admit they have never heard of them.
Taking action, prioritizing quantum skills
More than half (55 percent) of enterprises have not taken steps to prepare for quantum computing, but among the organizations that have, they are focused on:
- Assessing regulatory or compliance implications of quantum (46 percent)
- Exploring quantum-safe cryptography (38 percent)
- Investing in research and development or proof-of-concepts (27 percent)
- Collaborating with quantum hardware/software providers or consortia (28 percent)
- Providing staff training and upskilling on quantum computing (27 percent)
A third of global cyber and IT professionals (30 percent) do not have a good understanding of the capabilities of quantum computing, indicating there is work to do to upskill and educate those working in the IT sector to understand the implications of quantum’s capabilities, and to have a skilled workforce ready for the advent of quantum.
