Surprisingly Useful AI Article Enhancements
The era of quantum computing is rapidly approaching and organisations need to prepare.
Quantum computing is poised to reshape our business environment and drive new solutions, from designing and delivering faster healthcare and drug innovations to providing expedited financial risk analysis and solving logistical challenges in real time, resulting in delivering goods where they are most needed. Australia is quickly establishing itself as a global power player, a change that’s driving its evolution.
Since launching the National Quantum Strategy 18 months ago, the Australian government has invested significantly in new quantum-based solutions. Furthermore, Australia has awarded $18.4 million to the University of Sydney to establish Quantum Australia, a national centre to expand the country’s quantum industry and ecosystem, which is projected to drive $5.9 billion in economic impact by 2045.
While there is immense potential to revolutionise numerous industries and enable rapid growth, quantum computing poses significant cybersecurity threats in a way that organisations have never seen before. The same powerful capabilities that can rapidly execute complex simulations could break existing cryptographic algorithms in seconds, jeopardising the security of protected data, and enterprises must act now to address these risks.
The Threat of Harvest Now, Decrypt Later
The timeline for the widespread availability of fully functional quantum computers varies considerably, with some predicting that a fully functioning, fault-tolerant model could arrive as early as 2029. Once operational, quantum computers will be capable of breaking widely used encryption algorithms, like RSA and Elliptic Curve Cryptography (ECC). In fact, a sufficiently advanced quantum machine could decrypt RSA-2048, the strongest commonly used standard, within seconds. This would render previously secure, stored data vulnerable to exposure.
Harvest Now, Decrypt Later (HNDL) attacks pose a significant and escalating cybersecurity risk. In these attacks — also known as “retrospective decryption” or “store now, decrypt later” — cybercriminals intercept and store encrypted data today, to decrypt it in the future using quantum computing. This tactic is especially concerning for sensitive data, such as financial records, intellectual property and classified government information.
Building Crypto Agility
To prepare for this threat, organisations must adopt post-quantum cryptographic (PQC) strategies and build crypto agility — the ability to transition swiftly to new encryption methods without disrupting operations. With quantum-resistant algorithms now identified by governance bodies, such as the National Institute of Standards and Technology (NIST), enterprises must reinforce their defenses.
Companies must take several actions to address these challenges, but they do not need to go at it alone. By partnering with experts in this field, they will be better prepared to face these challenges head-on and adjust to new threats as they arise.
To take action, organisations must begin employing a discovery and assessment process. This will allow them to identify where cryptography is used across their organisation and evaluate which assets are most vulnerable to attacks. From there, organisations must build a detailed inventory of cryptographic assets, compare asset lifespans against the projected quantum threat timeline, and assess risk levels. Using this analysis, organisations can create a comprehensive PQC migration plan.
Next, organisations need to begin modernising and replacing vulnerable algorithms with quantum-resistant alternatives, ensuring alignment with broader IT and business strategies. Once this is complete, regular checks and updates to cryptographic systems and expertise about ongoing threats are needed to stay ahead of any potential crisis.
Take Action Now
Transitioning to Post-Quantum Cryptography (PQC) is complex due to the fragmented digital landscape. Additionally, early adopters of quantum-resistant encryption have faced significant challenges, including interoperability issues, infrastructure overhauls and prolonged modernisation efforts. Yet, this only emphasises the need to act now and safeguard sensitive data.
The urgency is even more pronounced for businesses in heavily regulated industries like healthcare, energy and finance, as even old data in the wrong hands could be catastrophic. Luckily, enterprises are beginning to take action to enhance their security by seeking partners who can identify and deploy appropriate PQC offerings and guidance on the latest threats. Through this road map, organisations of all sizes and industries can be better prepared for the benefits and challenges of a post-quantum world.
Manju Naglapur is Senior Vice President and General Manager, Cloud, Applications & Infrastructure Solutions at Unisys.
Last Updated on May 30, 2025 by Manju Naglapur
