Quantum computing has the potential to change the data security landscape permanently. In as little as five years, it could make the most relied-upon encryption schemes ineffective — making businesses vulnerable to breaches.

Quantum Computing’s Impact on Data Security

Quantum computing can make some of the most common data security measures ineffective. While experts haven’t reached a consensus on how soon it will happen, many agree it will become an issue within the next few decades.

While one cryptographer admits quantum computers could crack RSA encryption in as little as five years, they also acknowledge their figure is speculative — highlighting the importance of proactive action.

Although the uncertainty surrounding quantum computing’s capabilities suggests businesses shouldn’t concern themselves with the possibility of encryption schemes becoming vulnerable, the reality is much different.

Quantum computers streamline decryption. While a classical computer would theoretically take 300 trillion years to crack a 2,048-bit asymmetric key — which is essentially equivalent to a 128-bit symmetric key — its quantum counterpart could finish within seconds.

How Does Quantum Computing Work?

Where classical computers rely on binary digits to function, their quantum counterparts use quantum bits — qubits — instead. Rather than being either a one or a zero, they exist in both states simultaneously due to a quantum mechanical phenomenon known as superposition.

Unlike classical computers, quantum computers can solve complex mathematical equations foundational to encryption. Since superposition enables qubits to exist in two states at once, they can perform multiple operations simultaneously — substantially increasing their speed.

Other quantum mechanical phenomena also come into play — namely, entanglement and intentional interference. While one syncs qubits’ states regardless of their distance from one another, the other increases the probability of desired outcomes.

These factors make quantum computers much faster and more accurate than classic computers — which is how they can crack standard cryptography algorithms exponentially sooner.

The Impact of Quantum Computing on Data Security

Quantum computing’s ability to crack the most common cryptography algorithms poses a problem for data security.

1 - Greater Data Breach Frequency

Data interception, manipulation and exfiltration will become more frequent as quantum computing advances. Businesses could face tremendous losses since a single breach costs over $4.24 million on average.

2 - Sudden Usability of Stolen Data

The main benefit of encryption is it renders stolen information unusable. For this reason, many businesses have confidence in their data security despite experiencing breaches. Alarmingly, quantum computing could enable threat actors to decrypt anything they still possess.

Cybercriminals often keep the encrypted data they’ve stolen — even though it’s unreadable — in the hope it will be useful someday. If quantum computing enables them to suddenly interpret it, they could cause unfathomable damage to an untold number of unsuspecting businesses.

3 - Increased Cyberattack Prevalence

While many cybercriminals will likely use quantum computing to steal data, others will use it to intercept and view sensitive information. This way, they gather critical intel to launch successful man-in-the-middle, credential-based and malware attacks.

4 - Worsened Budget Constraints

Only some businesses will have enough capital to invest in special-purpose equipment. Most will have to make sacrifices to maintain data protection for compliance purposes. Compensating for budgetary constraints will likely leave them with security gaps.

The infrastructure costs of special-purpose equipment and the likely uptick in attack frequency will contribute to shrinking cybersecurity budgets. Even if businesses can afford to contribute additional funds toward post-quantum security, it still limits their budgets’ flexibility.

5 - Increased Cybersecurity Spending

Businesses can only reliably defend against quantum-computing-led cyberattacks and data breaches if they leverage special-purpose equipment — most of which have high initial investment costs. Although increased cybersecurity spending may sound positive, seasoned business and IT professionals know it means increased scrutiny and less room for error.

Can Businesses Defend Against Quantum Computing?

Theoretically, most businesses won’t be able to adequately defend against quantum computing attacks. These machines can crack 128-bit encryption — one of the most common symmetric cryptographic algorithms — meaning most businesses’ current data security is likely lacking. Even if they have other defenses in place, they may be unable to protect themselves.

Since quantum computers can crack a 128-bit encryption equivalent in mere seconds, businesses will have to rely on their other data security methods — meaning human error, missed patches and security gaps will pose a much more significant risk. If threat actors enter a system or network, there’s a nearly 100% chance they can use whatever information they can access.

How Can Businesses Protect Themselves?

A multilayered solution becomes increasingly crucial the closer quantum computing comes to cracking cryptography. Strategic businesses can maintain their security posture and protect their data.

1 - Quantum Key Distribution

Quantum key distribution leverages quantum mechanical properties to generate a cryptographic key, enabling two parties to encrypt and decrypt data securely. Additionally, some research suggests it can mitigate man-in-the-middle attacks like eavesdropping.

2 - Post-Quantum Cryptography

Post-quantum cryptography involves algorithms that are resistant to quantum computers. While the National Institute of Standards and Technology (NIST) is set to standardize four by the end of 2024, countless other researchers are developing their own.

3 - QKD and PQC

Businesses that leverage quantum key distribution and post-quantum cryptography will have a better chance against quantum attacks. This combination outperforms classical encryption algorithms by 117%, according to one study.

4 - The Principle of Least Privilege

IT professionals must make their storage systems inaccessible if quantum computing makes any accessible data forfeit to threat actors. The principle of least privilege minimizes insider threats and mitigates unauthorized access attempts, making it one of the best options.

Are Businesses at Risk of Experiencing Quantum Attacks?

Quantum computers are exorbitantly expensive, so common cybercriminals won’t have access to one. The operating conditions alone make the technology inaccessible to them. For example, quantum processors must operate at -459 degrees Fahrenheit because qubits are extremely sensitive to vibrations. Classical computers are less valuable but can run at room temperature.

Moreover, a few experts have shed doubt on quantum computing’s decryption abilities. Some claim it would take 1 million qubits to reliably crack RSA encryption. Considering the largest existing machine has only a few hundred qubits, businesses shouldn’t worry excessively.

Although various researchers claim they’ve been able to crack strong RSA keys with a few hundred qubits, their machines aren’t precise enough to achieve reliable success. Relying on so few qubits means they would need a near 100% accuracy rate — which even cutting-edge quantum computing technology hasn’t achieved because they’re too sensitive.

Still, not every cybercriminal needs a quantum computer. Even if only a handful of individuals have one, they can do a massive amount of damage. Besides, cybercrime is lucrative — more than enough threat actors would be willing to pay for access to crack a business’s encryption. Decryption-as-a-service is a possibility.

Additionally, the possibility of these machines cracking cryptography is concerning enough that NIST has stepped in and even held multiple rounds of competition and feedback to develop quantum-resistant algorithms. Although quantum attacks won’t happen within this decade, the fact they have potential should prompt businesses to act.

The Future of Data Security in a Post-Quantum World

Businesses must engage in preventive planning to protect their sensitive, personally identifiable and proprietary data from cybercriminals. Whether attacks become a possibility in five years or five decades, proactive action is critical.