Quantum Computing

What makes it so fast?

Quantum computers can perform certain calculations substantially faster than conventional computers. They operate not with bits but with Qubits (Quantum bits) which can hold multiple states simultaneously, i.e. O AND 1 (vs. today's 0 OR 1 Bits).

This difference to classical computing can be best visualized with the toss of a coin: classical computing is the coin state AFTER landing - clearly either heads or tails (0 or 1), while quantum computing are the coin states DURING its spinning in the air - i.e. different combinations of heads and tails depending on when and where you measure. These intermediate states called superpositions unleash tremendous computing and data storage power utilizing concepts of quantum physics.

Quantum Security Threat

There is world wide consensus on the fact that as Quantum Computers become more and more powerful, resilient and noise tolerant, the following threats are looming near:

Financial Data Leakage and Tampering

Quantum computing will break current encryption (like RSA, ECC, etc.) being used to exchange sensitive data between institutions in an increasingly digital world. Current algorithms on any supercomputer would need millions of years to break a 2048-bit encryption. With sufficiently large fault tolerant quantum computers, these encryptions can be broken in minutes or hours.

This is particularly dangerous for critical industries like financial services, utilities or healthcare which rely on current encryption to secure sensitive, private data both at rest and in flight.

Harvest-Now-Decrypt-Later : HNDL

An even bigger threat is that bad actors can download sensitive data today (harvest now) by using common sniffing tools in their present encrypted state. They can then wait for access to a sufficiently large fault tolerant Quantum Computer.

Once they have access in the next 4-5 years, they can decrypt the data ("decrypt later") and since these would be still relevant as per existing data regulations, they can use the decrypted data to do financial harm, hold institutions to ransom or publish these online!

Competitive Advantage with Quantum Computing

Quantum Computers solve certain algorithms much more accurately, efficiently and faster compared to classical computers. Therefore, companies which will leverage their power earlier are set to gain competitive advantage in terms of better solution provision to certain specific use cases.

Quantum Algorithms

There are multiple positive use cases where algorithms which run fully or partially on Quantum Computers, yield significantly better results in terms of accuracy and performance.

Some of these are in the areas of financial services like portfolio optimization, risk optimization, enhanced fraud prevention, accurate sanctions and compliance screening, where classical algorithms may fall short as the number of variables used in the algorithm increase. Quantum Computer algorithms are ideally suited to run these algorithms optimally, either stand-alone or in a Quantum-classical hybrid mode.

Quantum AI (Artificial Intelligence)

Researchers and scientists are publishing new proof nearly every other day in advantages of using a Quantum Computer over classical computers in Al.

Quantum Computers being inherently vector based are specially suited for Al, and are efficient not only in processing large amount of data in parallel, but also in finding relations and correlations in large variable set data which may not be obvious in classical Al or to humans, as the number of variables and dimensions in data sets grow.

This is evidenced by increase use of Quantum Computing in fields like discovery of new materials or medicines, climate forecasts, etc. but also in financial services with enhancing Al being used in fraud detection and prevention.

Quantum Knowledge Base

Please read the following information for fundamentals in Quantum Computing and associated knowledge relevant to Quantum Security, Quantum Algorithms and Quantum AI.

Quantum Computing 101

Resources and Articles