WEF new report: Embracing the Quantum Economy
In the midst of a technological revolution, quantum technologies are quietly becoming the foundation of a new economy – one that redefines how we think about security, innovation, and economic growth. The World Economic Forum’s latest report, Embracing the Quantum Economy: A Pathway for Business Leaders makes it clear: businesses that adopt quantum technologies today will lead the economy of tomorrow.
Quantum computing: the weak spot of cybersecurity
At the heart of the report lies quantum communication and security (confidentiality), offering a future-proof solution to one of the biggest challenges of the quantum era: safeguarding sensitive data against evolving cyber threats.
While today’s cryptographic systems protect financial transactions, health records, industrial control systems, management systems and communications, they are not future-proof. The rise of quantum computers will eventually render traditional encryption obsolete. Moreover, the “harvest now, decrypt later” (HNDL) threat leaves data stolen today totally exposed to future decryption using quantum computers.
A dual approach to quantum-safe communication is essential. Post-Quantum Cryptography (PQC), with the recently released first NIST standards showing promise, has limitations, including potential future vulnerabilities, costly and repeated migrations, and slow, complex implementation. To address these challenges, integrating Quantum Key Distribution (QKD) alongside PQC is critical. QKD provides immediate, future-proof security, reduces migration risks, and adds a layer of protection from the core of the network. Together, these technologies minimize attack surfaces, enhance overall network security and enable a zero-trust architecture.
Business leaders must act now
The WEF report is clear: quantum technologies are here to drive growth and redefine industries. Early adopters stand to gain competitive advantages that will be hard to catch up to. But it’s important to get started quickly and prepare in order to thrive.
Throughout the years, we’ve seen companies wrestle with the gap between “this is interesting” and “this is actionable.” Here’s how you can bridge that gap:
- Learn and build expertise: You don’t need an in-house quantum lab, but you do need multidisciplinary people who understand the field. Be curious, engage conversations, and gradually upskill your workforce.
- Start small but think big: Ask for a demo, pilot a proof-of-concept, adopt quantum-safe technologies today and develop plans for incremental deployment. Starting now will position you to scale later.
- Partner with Experts: Collaboration is key. Our team at ID Quantique helps organizations worldwide to implement quantum-safe solutions tailored to their needs.
A call to action
The quantum economy presents an unprecedented opportunity to reshape industries and redefine economic landscapes globally. This WEF report is a call to action: the leaders who embrace quantum technologies today will be the ones driving the economy of tomorrow.
Reach out to learn how ID Quantique can help you take the first step toward quantum readiness.
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