12 Aug Preparing For The Quantum Era: How Tech Companies Are Developing Next-Gen Cybersecurity
This week in cybersecurity from the editors at Cybercrime Magazine
Sausalito, Calif. – Aug. 12, 2024
The ongoing artificial intelligence (AI) revolution comes with many promises of benefits to society and the global economy. MENAFN reports that with growing use of AI comes risks, including more sophisticated cybercrime.
According to a report from Cybersecurity Ventures, cybercrime is not only evolving rapidly thanks to AI, but it’s estimated that cyberattacks will cost the global economy $9.5 trillion in 2024, and $10.5 trillion in 2025. This year, some big names have been hit, including Disney, AT&T, Ticketmaster, Dell, and Bank of America.
One major concern about the future is the emergence of quantum computing, which could enable hackers to access data currently protected by encryption methods that may not withstand quantum attacks.
Behind the scenes, tech developers are making huge strides in post-quantum cryptography, both for today and the future, with progress being made by companies such as Scope AI Corp. (CSE: SCPE), Palo Alto Networks, Inc. (NASDAQ: PANW), SentinelOne, Inc. (NYSE: S), Fortinet, Inc. (NASDAQ: FTNT), and even Apple Inc. (NASDAQ: AAPL).
“The quantum cryptography market is currently at $11 billion for 2024, and is projected to grow to $126 billion by 2033,” said James Young, CEO of Scope AI.
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