Introduction:
In the ever-evolving landscape of technology, 2024 brings forth a groundbreaking trend that has the potential to reshape industries and revolutionize the way we process information: Quantum Computing. This emerging technology, marked by its ability to perform complex computations at speeds unimaginable to classical computers, has taken the forefront as the number one tech trend of the year. However, as we embark on this quantum journey, it’s crucial to acknowledge and navigate the associated risks that come hand in hand with such transformative advancements. There are many roads that have been traversed over the last 5 years, that one could incorporate into the definition of Quantum Computing, as such many organizations are already well down the road, but perhaps without the necessary proverbial paddles and required compass to ensure the journey is effectively and efficiently navigated. Let’s explore this a bit further.
The Quantum Leap:
True Quantum computing harnesses the principles of quantum mechanics, utilizing qubits to process information in ways that classical bits cannot. This enables the solution of problems previously deemed unsolvable due to their complexity, such as simulating molecular structures, optimizing supply chains, and breaking cryptographic codes. As quantum computers transition from experimental to practical applications, industries ranging from finance to healthcare are poised to experience unprecedented leaps in efficiency and problem-solving capabilities.
So, let’s cut back a bit to some underlying concepts that may be termed the “toe in the water” to harnessing the full extent of true Quantum computing. Many organizations, over the last 5 years, have in one way or another, begun the journey of Automation, Artificial Intelligence, Machine Learning and Natural Language Processing projects. Such projects are now, as we head into 2024, coming to fruition, where organizations are starting to see the real business benefits of such automation and AI journeys. All these types of projects build big data, as, at its core, AI, ML automation projects work at transactional data levels and need large volumes of data to real add intelligent value in the final outputs.
One just needs to look at the launch of Chat GPT in late 2022 and how this technology exploded into all walks of life through the course of 2023, to know with certainty that the age of AI and the real impact of the 4th industrial revolution is well and truly upon us.
Risks on the Quantum Horizon:
Security Concerns:
Quantum computing’s potential to crack current encryption algorithms is both a boon and a bane, (the good, bad and ugly). While it can pave the way for more secure communication methods, it also poses a threat to existing systems. Businesses and governments must stay ahead of the curve in developing quantum-resistant cryptographic methods to safeguard sensitive information.
We have never before, seen such an impact on businesses, in terms of data breaches, cyber attacks leading to ransomware, the resultant fall out of business interruptions, loss of stakeholder trust and the total closing of doors of a business, as we have witnessed in the last 5 years.
Standards such as ISO 22301, ISO 27001, ISO 27701, as just the foundation, along with NIST frameworks being adopted and CIS controls being implemented, are no longer a realm of the large enterprise organizations. Meeting compliance to such standards and frameworks is now a business strategic growth and sustainability advantage and if such compliance is not on the Shareholder / Board agenda for 2024, serious stakeholders and interested parties need to be asking some extremely tough questions of those businesses and their directors.
Ethical Dilemmas:
The immense computing power of quantum systems raises ethical questions regarding their applications. From the manipulation of genetic data to the potential for mass surveillance, society must grapple with defining ethical boundaries and regulations to ensure the responsible use of quantum technology.
The ethical boundaries are still extremely hazy when it comes to AI and automation projects. Much needs doing, in this regard, to ensure that effective and ethical decisions are made along with realization of the business growth and opportunity that comes with advancement in technology. ISO standards and ICT Governance frameworks, lay the correct foundations from which ethical conversations and considerations can take shape and be implemented through to policy, process and algorithm levels.
Lingering Technical Challenges:
Quantum computers are not without their technical hurdles. Maintaining the delicate quantum state, reducing error rates, and scaling up the number of qubits remain formidable challenges. The industry must address these issues to make quantum computing accessible and reliable for widespread adoption.
With this said, most organizations are not yet here. However, the issues of hybrid computing between cloud and on premise are still burning CIO and CTO risks and concerns that cannot be ignored in the ICT Governance framework. As organizations evolve their ICT landscapes and move toward the eventual stages of adoption of Quantum computing, its coming ready or not, CIO’s and CTO’s need to ensure that the foundations are strong to tackle the known risks, but more importantly, to be able to identify the risks yet unknown. This means that investment in automation, within Control Assurance Frameworks, is again a must do, not a maybe!
Environmental Impact:
The energy consumption of quantum computers, particularly when operating at ultra-low temperatures, raises concerns about their environmental impact. Sustainable practices and energy-efficient designs must be prioritized to minimize the carbon footprint associated with quantum computing operations.
Never more than today, has an integrated GRC, (Governance, Risk and Compliance), approach been more required. Too long have organizations operated in silos. There have been endless dialogs regards the risks of working in informational silos. Organizations that do not invest in an integrated GRC data architecture, are simply setting themselves up for failure in the coming age of AI, Automation and Quantum Computing. It is not a problem of data to go fetch, it is a problem of effective and intelligent interpretation of that data. Human beings must hold the ultimate control of the writing of the algorithms to make such interpretations. This role left to AI is the worlds worst nightmare.
Skills Gap:
The specialized nature of quantum computing demands a workforce equipped with the necessary skills to develop, maintain, and innovate in this field. Bridging the quantum skills gap requires concerted efforts in education, training, and collaboration between academia and industry.
Again, translate this risk back to where most organizations are in the early stages of AI and Automation projects, skills shortages is one of the biggest risks facing every employer today. The world of humans has simply not kept up with the speed of AI evolution. Serious questions regarding the role of the human, in this rapidly evolving world of AI, Automation and Quantum Computing, must be questioned and a skills strategy developed for every employee within each and every organization, so that we do not lose our humanity within the hype of the rise of AI within our everyday lives.
Navigating the Quantum Frontier:
As we ride the quantum wave, mitigating risks is imperative for the responsible integration of this transformative technology. Collaboration between researchers, policymakers, and industry leaders is essential to establish standards, regulations, and ethical guidelines. Investing in research and development to address technical challenges and fostering a quantum-ready workforce will ensure a smoother transition into the quantum era.
This approach is further critical, at the foundation stages of Automation projects. Working with the right people, who have the correct breadth of skill set, in the areas of GRC as well as technology expertise, to ensure that your organization navigates this technology growth journey in the most effective way, is simply critical to success or failure.
Conclusion:
The ascent of quantum computing as the number one tech trend of 2024 is an exciting leap into the future. However, with great power comes great responsibility. As we unlock the potential of quantum computing, it is paramount to navigate the associated risks with diligence, foresight, and a commitment to ethical and sustainable practices. Only then can we fully harness the quantum revolution and usher in a new era of technological possibilities.
The RUBIQ Team is assisting our clients in building out ethical and structured approaches to adopting a Control Automation Engine, within their Governance, Risk and Compliance Frameworks. The understandings that you will need at each layer, and each step of the journey, (from source data levels to Board Pack Reporting output). Each step you need to take, has been carefully worked out, in our recognized and powerful, 10 step advisory journey, so that you ensure that your GRC, AI and Automation Control Assurance and Attestation project, lands with the level of Return on Investment that you, your stakeholders and interested parties, directors and Board are all looking for, to see the expected growth and value that comes with this exceptionally exciting technology suite.
Contact us to book your first exploratory consultation, Maturity Assessment – RUBIQ (rubiqbiz.com)
The RUBIQ Team
CEO | Nicky Downing