Bain & Company said it has partnered with IBM to deliver expertise to private equity and corporate clients on post-quantum cryptography risks and strategic mitigations.
The collaboration brings together the companies’ deep cybersecurity expertise including IBM Consulting’s quantum-safe transformation services and Bain’s capabilities in diligence to provide clients assessment of resilience in the fast-emerging post-quantum world. This will enable clients to take vital mitigation measures and integrate PQC into strategic and operational plans.
With quantum computing advancing rapidly from theoretical research to commercialization of real-world applications, the technology poses a credible and growing risk to current encryption standards that protect companies’ sensitive data, proprietary expertise, and intellectual property. In turn, this could create substantial and material business and investment risks.
Post-quantum cryptography (PQC) solutions can effectively mitigate these fast-evolving cybersecurity risks. However, recent Bain research found that while corporate tech leaders see PQC becoming an urgent necessity, few currently have a clear strategy in place to deliver the complex requirements.
In the longer-term, Bain and IBM expect to collaborate extensively on priority use-cases in the post-quantum environment in areas such as metallurgy, pharmaceuticals, and materials science.
“Quantum computing is moving from theory to reality. It also brings a hard deadline: many of today’s encryption standards won’t hold forever,” said Chuck Whitten, global head of Bain’s digital practices and capabilities.
Whitten said companies that start upgrading now will protect customers, protect value, and stay ahead of the risk.
“Our collaboration with IBM strengthens our ability to help acquirers spot cryptography risk early and take action. Post-quantum readiness should be treated like any other critical technology risk in a deal, and we’re excited to bring leading-edge capabilities to protecting client’s businesses and investments,” he added.
Andy Baldwin, SVP at IBM Consulting, said the move towards quantum-ready security is becoming a near-term priority for every organization that relies on cryptography to operate.
“Our collaboration with Bain provides clients with a clear quantum-safe roadmap, from identifying vulnerable assets to prioritizing remediation and executing a transition strategy, to help reduce risk ahead of the post-quantum era,” said Baldwin.
