Fewer than 10% of organisations worldwide have taken steps to protect themselves against cybersecurity risks posed by quantum computing, according to Alessandro Curioni, IBM’s vice-president for Europe and Africa. His warning highlights the need for businesses to prepare their security systems before advanced quantum computers can potentially break existing encryption methods.
Speaking at a conference in London on October 14, 2026, Curioni said very few organisations had achieved quantum-safe security. Quantum computing uses the principles of quantum physics to process information and could eventually solve certain complex problems much faster than conventional computers. However, the technology could also threaten encryption methods used to protect sensitive information.
Encryption secures financial transactions, digital communications and confidential business data. If sufficiently advanced quantum computers become available, they could potentially break some cryptographic systems currently used to protect these assets.
One concern is that malicious actors may already be collecting encrypted information with the intention of decrypting it in the future. David Debnam, operational risk director at British insurance company Aviva, highlighted the possibility that attackers could store data now and access its contents once quantum technology advances sufficiently.
This could put information requiring long-term confidentiality, including financial records and sensitive communications, at risk. Organisations may therefore need to review their encryption systems before quantum computers reach the required level of capability.
Governments have also started addressing the issue. The United Kingdom recommends that organisations transition to quantum-resistant cryptographic systems by 2035. These systems are designed to protect information against attacks from conventional and quantum computers.
IBM is working towards developing a large-scale, fault-tolerant quantum computer for commercial clients by 2029. Meanwhile, McKinsey estimates that quantum computing could generate up to $2.7 trillion in economic value globally by 2035.
For businesses, the immediate challenge is to assess existing encryption systems, identify vulnerable information and plan the transition to quantum-resistant security before the technology advances further.
