Author: Jaya Sharma Patel
Quantum computing has the potential to revolutionise the way businesses work. Corporate leaders and strategists who want to stay ahead of the competition must be informed and prepared for the new opportunities and challenges that quantum computing could bring to the workplace. As well as understanding how quantum computing can have an impact on the business world as a whole, it is important to prepare your own company to work with the new technology of quantum computing, including adopting new strategies and upskilling IT teams to be able to handle new quantum computing-related problems. The ability to adapt to and embrace the changes that this new wave of technological progress will be a key factor to your future success.
The impact of quantum computing on businesses
The introduction of quantum computing into the business world could provide many benefits to the way we work. Quantum computing has the potential to be extremely influential in the future of the technological world, and it is important to understand the effect this can have.
In short, quantum computers operate using qubits, which, instead of existing as 0 or 1 like binary digits in classic computers, can exist as 0 and 1 simultaneously. Additionally, quantum entanglement (where the state of one qubit almost certainly defines the state of another) introduces parallel computing, able to store massive amounts of data on a rapidly increasing scale. These factors mean that quantum computers can work much faster and more efficiently than computers that we use today.
Due to their sizeable processing advantages over classical computers, quantum computers can crack conventional encryption much faster and even decrypt ‘unbreakable’ encryptions.
This raises concerns about data security, especially for businesses which rely on conventional encryption to protect their sensitive data. Quantum computing isn’t even a future threat any more, cybercriminals are exploiting its advantages now. ‘Harvest now, decrypt later’ attacks involve mass harvesting of encrypted sensitive data, to be stored and decrypted when quantum computing is advanced enough and more available. Companies must be aware of this and take action to secure their data from the threat of quantum computing now.
However, quantum computing can also be used to formulate much stronger data encryptions, like Quantum Key Decryption (QKD). Companies should consider the impending risk of quantum computing and begin to invest in securing their data with QKD or similar quantum-resistant technology.
Quantum technology can also provide much quicker and more efficient cybersecurity services, such as more advanced intrusion detection systems and analysis on website security. In addition, quantum computing can also be used to gather more information and data (in all fields) in a single search, which benefits the day-to-day productivity of a company.
Uses of Quantum Technology in different fields
With its unparalleled processing power, quantum computing has the potential to revolutionise many industries, being able to improve the quality of work and be able to support innovations that may not have been possible in the past.
Finance
One of the most useful ways that quantum technology can be used in finance is through the creation of advanced financial models and trade simulations to help predict and navigate the market. This will allow professionals to further analyse trends and data, and provide a more in-depth knowledge of current financial affairs.
It is possible to use quantum computing to create efficient and up-to-date investment portfolios for their clients. It is believed that there will soon come a period of intense fintech development based on quantum computing, which will uproot traditional financial institutions and the way they work.
Pharmaceuticals
The pharmaceutical industry can also benefit from the power of quantum computing. New technology has resulted in models being created which can simulate molecular reactions. This greatly speeds up the creation and trial processes of creating a new drug. Also, quantum computing can be used to create detailed models of an individual’s DNA, allowing professionals to utilise data to aid in patient treatments. Healthcare professionals already use digital DNA modelling, but it requires a lot of computing power, which quantum computers can provide more efficiently. Eventually, personalised treatment plans devised by quantum technology through gene and DNA study could be possible, which could help treat more serious diseases.
Engineering
The specifications of all types of machines, like aeroplanes, can be designed alongside quantum computer analysis and suggestions to make configurations more streamlined. Quantum engineering (the application of quantum physics to technology) is already being implemented into many devices that are used today, such as nanoscience and electrical engineering. Military technology and intelligence can also be improved by the processing power of quantum computing.
Logistics
Optimisation is something that a quantum computer can handle very well. Complex logistical problems that require immense classical computational power can be solved by a quantum computer in minutes. Due to the intricate network of supply chains and international shipping routes, quantum computing power and analysis could also be put to use in the logistics industry.
How to upskill your IT Professionals
Improve awareness and understanding
It is not necessary to form a narrow, technical knowledge of the smaller intricacies of quantum computers and the way they work, but a general, secure understanding of the basic principles of quantum computing and strategy is vital for IT professionals going forward. Being able to think creatively about new opportunities and at the same time be aware of risks for the business is the optimal mindset for someone looking to learn more about quantum technology.
Encourage employees to take courses in quantum technology
Many universities and education providers are now starting to offer new courses centring around upskilling current IT professionals on the new uses, implications and threats of quantum computing. Online courses and textbooks are becoming readily available too.
Conferences and events are a brilliant way to discover new technology and improve the understanding that your employees currently have.
Never stop learning
Once your IT professionals have learnt the basics about quantum computing, make sure to keep up to date with the latest advancements around the rapidly evolving field of quantum technology, to spark interest in the subject, find out more about how quantum computing can affect the area of work that they are in, and how it can benefit productivity and new ways to work.
How to adopt quantum resistant encryption
Quantum-resistant encryption can be classified into two distinct sections.
Quantum-resistant cryptography deploys quantum mechanics at the heart of a security initiative, whereas post-quantum technology focuses on creating algorithms that are too complex for even quantum computers to crack themselves.
The main goal of post-quantum cryptography is to create encryption that cannot be broken by classical or quantum computers. This would be the ideal encryption to be used by businesses to thoroughly and securely protect their data.
The current advice for companies using public key cryptography is to adopt a quantum-resistant algorithm, such as Crystal-Kyber.
At the moment, quantum computers are unable to break symmetrical encryption (where both keys are kept under the protection of the data handler) as there is no public key to access for them to break. However, it has been recommended to increase the key sizes to avoid the threat of attack altogether.
Transitioning to PQC is a large effort financially, creates a lot of uncertainty and does not work for every situation and company. If that is the case, focusing on enhancing and improving traditional methods of encryption (like symmetrical encryption) is a good course of action. In the future, being able to rely on fully secure quantum encryption is preferable to operate more smoothly with fewer security breaches.
Preparing for the new era of quantum computing takes a lot of planning, effort and cooperation. However, there are many productive and innovative uses for quantum technology in the workplace, and getting ahead now will allow a more relaxed outlook on what is to come. It is key to prepare your company and employees to be ready to work with quantum computing and quantum technologies, to be able to welcome new forms of business.
At OmniCyber Security, we strive to keep pace with the ever-changing world of cybersecurity and are committed to empowering individuals, organisations, and governments with the knowledge and solutions needed to secure their digital future. Contact us today to explore our range of cybersecurity services.
