IBM executive warns of risk of quantum computing hacks

Organisations are unprepared for the risks posed by quantum computing, IBM's Europe and Africa vice-president Alessandro Curioni told AFP Wednesday, referring to the high-speed technology that could crack security encryptions and enable large-scale cyberattacks.

"If you look at the world, how many organisations became quantum safe? I would say less than 10 percent today," Curioni said on the sidelines of a London conference organised by the American technology pioneer.

IBM, a leader in the field competing against Microsoft and Google, aims to develop a "large-scale, fault tolerant" quantum computer for commercial clients by 2029.


It aims to develop a quantum computer that can reliably perform calculations beyond the capabilities of classic computers.

Quantum computing machines would rapidly process data by using the properties of quantum physics and could help solve complex problems such as the development of new drugs or materials.

But they could also be used to break encryptions that protect vital data and communications, with countries including Britain urging organisations to bolster their information systems.

Curioni's warning comes amid mounting concerns about artificial intelligence's ability to hack into computer systems following a string of high-profile global attacks.

Curioni, who is also the head of the IBM Research Lab in Zurich, voiced concerns about potential fallout for "the internet, all the blockchains, the banks, financial contract, digital signature."

"First, maybe they are going to attack the financial institution, then the industry, then the banks," Curioni said of possible malicious actors.

Existing quantum computers are currently not powerful enough to carry out such attacks, and it remains unclear when they might reach that stage.

"I think the biggest risk for us is actually that data has probably already been harvested," David Debnam, operational risk director at British insurance firm Aviva told the conference.

If malicious actors store vast amounts of data, they can decrypt it once quantum computers become advanced enough.

The UK recommends organisations transition to quantum-resistant cryptographic systems by 2035 to secure their data.

The United States, China and France are also involved in the development of quantum computing, which McKinsey estimates could generate up to $2.7 trillion in economic value by 2035.

According to Curioni, the benefits of quantum computing would be immense, and combined with AI's abstract thinking capabilities could "simulate problems that were too complex from a physical viewpoint".