G7 urges rapid transition to post-quantum encryption

A cybersecurity working group at the G7 is urging governments and industries to accelerate the adoption of post-quantum cryptography (PQC) to defend against future quantum computing threats.

A report prepared during the G7 Summit in France warns that organizations can no longer postpone the transition of critical systems and data to quantum-resistant encryption. The group emphasized that the quantum threat should be viewed as a near-term economic and business risk rather than a distant cryptographic concern.

Key risks identified include the potential for bad actors to harvest currently encrypted sensitive data to decrypt it later once quantum technology matures. Additionally, quantum computers could compromise authentication mechanisms, jeopardizing secure communications and legal contracts. The report recommends that organizations inventory and prioritize critical systems using algorithms vetted by the National Institute for Standards and Technology and the National Security Agency.