Bottom line: Organizations must prioritize post-quantum cryptography planning to ensure the security of sensitive data against potential quantum computer attacks.
What's happening: The first publicly available quantum computer, Sycamore's 53-qubit quantum processor, was announced in October 2020, demonstrating the feasibility of a quantum computer that surpasses the capabilities of the world's fastest supercomputer, Summit. The US Department of Energy's National Quantum Information Science Research Act was signed into law in December 2020, allocating $3 billion to fund quantum computing research and development.
What to do: Security leaders should review NIST's draft of the Post-Quantum Cryptography Standardization Process and prioritize the implementation of post-quantum cryptography solutions in their organizations, starting with high-risk applications such as financial transactions and government data storage.