What is quantum computing and what businesses need to know about this technology
Quantum computing is a hot concept these days, delivering both excitement and trepidation among forward-thinking business leaders. Many are concerned about the security implications, as quantum will render previously powerful encryption methods ineffective. Leveraged correctly, however, the quantum era could uncover many exciting technological opportunities.
Moving forward, businesses will need to strike a delicate balance: protecting against quantum's greatest threats while also using the technology to gain a competitive edge. It's a lot to juggle, but thankfully, extensive research and resources should limit the learning curve and help quantum novices navigate this upcoming transition with ease.
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What is quantum computing?
Quantum computing represents the new era in digital technology, harnessing the power of quantum mechanics to solve problems that were previously out of reach for conventional computers. Rather than processing information as 0 or 1 (as with classic computing), quantum computers allow bits to simultaneously exist as 0 and 1.
As the National Institute of Standards and Technology (NIST) explains, quantum "deals with the granular and fuzzy nature of the universe and the physical behavior of its smallest particles." Applied to computing, however, quantum principles drive coordinated calculations, meaning complex problems can be solved with extraordinary efficiency.
How quantum computing works
Quantum computing replaces classic units of data (known as bits) with quantum bits — commonly referred to as qubits. A concept known as superposition allows these qubits to simultaneously represent 0 and 1. This was not possible with classical bits. Meanwhile, quantum entanglement allows qubits to become interconnected, to the point that they influence one another regardless of how much distance exists between them.
With quantum computing, operations known as quantum gates can manipulate qubits. These look a lot like the logic gates of yesteryear, which performed logical functions to process binary data. Today's quantum gates perform operations while drawing on concepts such as entanglement and superposition. Sequences of quantum gates form quantum circuits, which provide a valuable framework for implementing quantum algorithms such as Shor's algorithm (which is used to factor large numbers).
When quantum computers are expected to be available
The field of quantum computing is advancing rapidly — and while, technically speaking, the ‘quantum apocalypse’ has not yet arrived, many organizations are preparing now for the time when quantum computers (which are far more powerful than classical supercomputers) enter the picture. This trajectory can be difficult to predict because many challenges stand in the way of adopting quantum solutions at scale.
That being said, progress has definitely been made, and businesses are eager to support this transition. Findings from McKinsey & Company indicate that many prominent companies plan to invest millions or even tens of millions in quantum computing — and they are accompanied by increasingly robust public funding. Meanwhile, talent pools are expected to increase dramatically, with more professionals becoming comfortable with navigating high-level algorithms.
Predictions vary, but most researchers now agree that quantum computing will threaten at least some classic encryption strategies within the next ten years, with many experts saying quantum computers could crack current encryption algorithms by as early as 2030. This also means that exciting quantum possibilities should be available within the next decade.
IBM has created a ten-year blueprint that reflects, as Forbes explains, the "development of methods and architectures necessary for the eventual error-corrected scaling of quantum machines." Meanwhile, NIST has announced four quantum-resistant cryptographic algorithms, as part of a post-quantum cryptography standardization project. Microsoft is also involved in the quantum race, having recently hit headlines with the development of a powerful error-correction algorithm.
Impact of quantum computing on businesses
When quantum computing inevitably enters the picture, it could potentially drive significant improvements in supply chain management, financial modeling, and even training neural networks.
Across industries, businesses will use quantum solutions to boost efficiency and resource allocation while also promoting innovation. Many expect to leverage advancements such as electron-based qubits, which could enhance scalability. Already, some experts believe that quantum optimization can help organizations enjoy select benefits of quantum computing.
Potential applications for businesses
Many forward-thinking researchers and business leaders are beginning to explore the industry-specific applications of quantum computing. These are often considered in the context of artificial intelligence, machine learning, and deep neural networks, which, although exciting, call for expanded computing power.
Advocates believe that the quantum era will finally help us realize machine learning's full potential. From startups to major corporations and even government agencies or nonprofits, many organizations will be eager to get in on this quantum revolution.
Healthcare: Drug discovery could prove one of the most transformative of the many anticipated quantum applications. Quantum-oriented molecular modeling can help researchers understand potential drug interactions, while also helping to predict whether drugs will prove effective — or whether they might lead to adverse side effects. Furthermore, quantum computing can expedite the otherwise time-consuming processing of genetic data, thereby enhancing genome sequencing, and with it, personalized care.
Finance: Alongside enhanced algorithms, quantum computing can promote optimized portfolios through the efficient evaluation of numerous constraints and variables. This could also prove valuable from a risk management perspective. Intricate models are required when pricing intricate derivatives, but quantum computing can help finance professionals pick up the pace.
Cybersecurity: While quantum has widely been regarded as a cybersecurity risk, it could also drive significant security improvements and move us into a more proactive era of information assurance. This shift, for example, will promote quantum key distribution (QKD), which will render eavesdropping detectable while creating secure communication channels.
What businesses should know and be aware of
Quantum computing has much to offer, but the picture is not entirely rosy. Risks abound, and, unfortunately, the quantum computers of tomorrow will easily break the cryptographic algorithms (including RSA and ECC) that we've relied on for so long.
Quantum-resistant algorithms could bridge the gap and allow organizations to address evolving cybersecurity concerns while also beginning to explore the extraordinary possibilities accompanying the integration of quantum into business operations.
Security concerns and preparations
If we are to uncover a quantum advantage, we must actively address this technology’s downsides. This does not mean waiting until quantum is unleashed at scale. Risks are evident right now, and the longer leaders wait to take quantum computing seriously, the more their organizations will suffer down the road.
Harvest now, decrypt later (HNDL) schemes bring a newfound sense of urgency to this process, as forward-thinking threat actors may already be intercepting and gathering data — which they intend to store until quantum computing allows them to decrypt it. This means organizations must begin preparing for this technology now.
The Q.U.A.N.T. strategy from Sectigo
Business leaders must begin taking active steps to prepare for this upcoming transition to quantum technology. Many may be procrastinating, however, simply because the thought of shifting to a new cryptographic approach seems intimidating.
Thankfully, there is no need to go it alone. Sectigo's Q.U.A.N.T. strategy provides a reliable framework for navigating the challenges of the quantum era.
Quantum exposure inventory. Get clued in on your cryptographic footprint. Comprehensive discovery tools will ensure that you're fully in the know.
Uncover risks. Vulnerabilities exist and during this stage, they will be revealed. Risk assessment ensures that key issues are identified and prioritized, driving a sharper and more focused strategy.
Assess and strategize. Make the most of quantum-resistant algorithms by leveraging Sectigo's vast expertise regarding the public key infrastructure (PKI).
Navigate implementation. A smooth transition is essential. Automated solutions streamline the shift to PKC, thereby allowing for a more manageable learning curve.
Track and manage. Evolving standards are to be expected, but crypto agility solutions will help business organizations rise to the occasion. Ongoing processes should help quantum-safe strategies remain effective over time.
Moving forward
Change is coming and, while the pace of digital transformation may already seem lightning-fast, the quantum apocalypse will arrive in short order. Strategies implemented today could make a world of difference down the road.
As you embark on the path towards achieving quantum-readiness, look to Sectigo’s quantum solutions for insight and support. Start your post-quantum cryptography journey; get in touch with our experts and make the most of our free consultation.