Large-scale quantum computers could “render useless” the encryption and cybersecurity tools used to protect everything from social media to critical infrastructure, experts warn.  

The alert comes as Google launches its quantum computer chip, Willow. 

Muhammed Esgin from Monash University’s Faculty of Information Technology says while Willow is “not nearly” powerful enough to endanger current protections, it serves as a “reminder of the fast-approaching quantum threat to cybersecurity mechanisms”, which is “well known in the research community”.

He says “post-quantum” encryption and digital signature algorithms will replace older encryption standards in coming years. This transition to “quantum-resistant cybersecurity is a complex process that will take years”.  

Dr Esgin recommends awareness campaigns and training for IT professionals to identify quantum-vulnerable systems and plan to move to quantum-resistant alternatives.

“The number of experts is limited in Australia and more research investment in quantum-safe technologies is needed,” he said.

WTW’s Pacific cyber and technology industry leader Benjamin Di Marco told insuranceNEWS.com.au quantum computers will probably increase the risk of harm from cyberattacks and render many encryption practices obsolete.

In the medium to long term, he expects insurers to focus on whether an organisation has adopted quantum-resistant cryptography, and the effectiveness of other controls in place to protect digital data assets.

“We will likely need to assume that any standard encryption process applied to the data will be circumvented and that the malicious actor will have full access and control over any sensitive records which they have taken,” he said.

“Ultimately, carriers and the market will be driven by the extent of claims and losses that are either caused by quantum computing or losses that are made worse because of it,” he said.

“It will likely take years before any claim tails are seen regarding either of these issues.”