Because data can be stored and archived, classified and sensitive data – which must be preserved for a decade or more – must be protected by quantum-resistant algorithms. The four algorithms chosen by NIST represent an early stage in the development of post-quantum cryptography.
“The cryptographic protocols that are implemented today may be used in 10 years, 20 years, 30 years from now,” said Daniel Gottsman, a professor of theoretical computer science at the University of Maryland and a quantum computing consultant at Keysight Technologies. A US-based supplier of electronic design, simulation and test equipment. If you send messages today, if they are still relevant then, you should be concerned about the security of quantum computers in the future.
Yet, the promise of quantum computing goes beyond unlocking decades-old mysteries.
Quantum computing offers the tantalizing promise of far greater problem-solving capabilities and computing power than today’s most powerful supercomputers. Google has built a quantum AI campus with the goal of creating a “useful, error-correcting quantum computer” by 2029. IBM has expanded its quantum efforts by aiming to create a 4,000-qubit quantum computer by 2025.
These more sophisticated platforms enable a wider range of applications such as chemical simulations and machine learning, and provide further impetus for the long-term development of quantum computer systems. According to analyst firm International Data Corporation (IDC), the global quantum computing market will grow 51 percent annually, measured by spending, from $412 million in 2020 to $8.6 billion in 2027.
“Companies that build quantum hardware and software services now have multiple platforms used by customers in the financial and defense spaces,” said John Blier, industry solutions manager, wireline communications, at Keysight Technologies. “And new applications have been identified, such as molecular mimicry that can lead to new life-saving drugs that cure various diseases.”
Companies developing applications for future quantum computers will lead the market because of their quantum advantages, says Chad Righetti, former CEO of Righetti Computing, a provider of quantum computing as a service. Quantum computing as a service, or QCaaS, enables customers to access quantum computing through a cloud service that integrates with workloads typically based on classical computing. The result is a hybrid system that can be optimized for a specific problem: most of the software runs on classical computers, while quantum algorithms and simulations can be run on quantum systems.
While much of the quantum computing discussion has focused on privacy and encrypted data, the biggest risk today is not planning for the way quantum computing can affect a company’s business.
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