This is an excerpt from a guest post by Mike Brown, CTO, ISARA Corporation, that appears in full on the GTEC website. Mike and ISARA COO Mark Pecen spoke at GTEC 2016 as part of a panel of experts on Quantum Safe Strategy for Canada.
“The challenge of protecting cyber systems and information is about to get a lot harder, thanks to quantum computing.”
—Greta Bossenmaier, Chief, CSE, delivering A Canadian Perspective on the Cyber Challenge, Lecture to the Canadian Association For Security and Intelligence Studies Symposium, September 23, 2016
It’s widely recognized that the global increase in cybersecurity attacks is not expected to slow. Those responsible for protecting data today can’t postpone or avoid cybersecurity fixes. Hacks are more public and more damaging to organizations, to their customers, and to brands, than ever before. Data breaches have become a familiar consequence of inadequate security and risk anticipation, and the personal and financial costs of breaches have also been increasing. Worldwide, spending to mitigate cybersecurity risk is expected to hit $101.6 billion in five years, according to the recently released IDC (International Data Corporation) 2016 report. The report also states that “Security spending will surpass C$2B in 2016 but Canadian businesses will still not be investing in all the right places”. If businesses are not considering innovations that anticipate the quantum computing threat to cybersecurity, cybersecurity spending may be even more misdirected and wasteful than predicted.
So what does it really mean to have a quantum safe strategy? Most people don’t have an answer to that question yet, but the creation of quantum safe strategies will be critical over the next decade. The availability of quantum resistant security solutions could provide an additional layer of protection that, when integrated into conventional security systems, has immediate benefits. This means governments and large organizations, even small organizations with specific security concerns, can take steps to improve their security posture and ready their data protection strategies for the quantum age. By connecting governments and large organizations with cybersecurity companies right here in Ontario, we can limit the negative impact that quantum computers may have in the hands of the hackers and criminal insiders who are already wreaking havoc on our personal and corporate data.