De-mystifying Quantum Computing – Is it a Double-edged Sword?
Introduction to Quantum Computing
Quantum computing is revolutionizing the world by leveraging the principles of quantum mechanics to solve problems that traditional computers would take millennia to process. With properties like superposition (enabling parallel computations) and entanglement (allowing interconnected qubits to share states regardless of distance), quantum computers promise breakthroughs across industries, from life sciences and cryptography to finance.
However, with these advancements comes the risk of quantum computers rendering today’s encryption methods obsolete, threatening global cybersecurity. This paper explores both the promises and perils of quantum computing, particularly its implications for the financial industry.
Opportunities and Challenges
Breakthroughs Across Industries: Quantum computing holds the potential to transform industries by enabling faster drug discovery, optimizing financial models, and accelerating Monte Carlo simulations.
Security Risks: On the flip side, quantum computers could break widely used encryption algorithms like RSA and ECC, potentially exposing financial transactions and communications to threats. This looming risk, known as “Q-Day,” underscores the urgency for post-quantum cryptography.
Impact on the Financial Industry
Card and Payment Systems Vulnerabilities: Current cryptographic protocols like RSA, used in EMV cards and secure transaction processing, could become obsolete. Post-quantum cryptography is essential to ensure the safety of card transactions and internet communications.
EMVCo and PCI DSS 4.0 Initiatives: Standards bodies like EMVCo and PCI DSS are already preparing for the quantum era by recommending resilient encryption algorithms (e.g., AES-128) and strategies to ensure cryptographic agility.
Infosys’ 2-Phased Approach to Post-Quantum Readiness
Infosys proposes a structured plan to help organizations transition to quantum-safe encryption, ensuring security without disruption with Wave-Cluster Planning & Agentic AI-Driven Migration.
Quantum computing is not just a future possibility – it is an imminent reality. Financial organizations must act now to safeguard their infrastructure and prepare for the post-quantum era. By leveraging Infosys’ phased approach and cutting-edge AI solutions, businesses can future-proof their systems and maintain resilience against quantum threats.
This paper provides a roadmap for navigating the double-edged sword of quantum computing—unlocking its potential while mitigating its risks. Read the full document to explore detailed insights and actionable strategies for the quantum era.
