By Amritesh Anand, Vice President & MD, Technology Services Group at In2IT Technologies

As quantum computing technology rapidly advances, businesses and governments around the world are facing a looming threat to their cybersecurity. Quantum computers, with their ability to perform calculations exponentially faster than classical computers, will render many of today's encryption methods obsolete. This threat is expected to arrive by the end of the decade.

South Africa is no exception to this impending crisis. The country's cybersecurity market is projected to grow by 7.06% between 2024-2029, reaching a market volume of US$884.60m in 2029. However, the threat posed by quantum computing is not yet fully recognised or addressed.

Quantum computing in South Africa

While South Africa does not currently have the resources to build full-scale quantum computers, the country is making strides in quantum research and experimentation. Several labs in Africa are working on quantum experimentation, however, they are not building complete quantum computers. This is largely due to the high costs associated with the technology is estimated at over $100 million just for the lab facilities, putting the development of quantum computers out of reach for now.

However, this does not diminish the need for South Africa to prioritise quantum security and prepare for the inevitable impact of quantum computing on cybersecurity.

The threat to South African businesses

Anything that relies on encryption, from e-commerce to online banking, is at risk. In Q3 2023, phishing attacks detected for corporate users in South Africa surged by 134% compared to Q2 2023 and by 16% compared to Q3 2022, highlighting the growing cybersecurity challenges businesses face.

Small and medium-sized businesses in particular may struggle to keep up with the rapidly evolving cybersecurity landscape. However, outsourcing IT services to third-party providers can help these businesses stay protected.

The benefits of outsourcing IT services

Outsourcing IT services to a reputable provider can offer several benefits for South African businesses looking to enhance their cybersecurity:

• Cost savings: Outsourcing allows businesses to access the expertise and resources needed to protect against cyber threats without the high costs of building an in-house IT team.
• Increased efficiency: By outsourcing non-core IT tasks, businesses can free up their in-house staff to focus on their core operations and drive growth.
• Access to advanced technologies: Outsourcing providers often have access to the latest cybersecurity tools and technologies, such as threat feeds, security information and event management systems, and endpoint detection and response solutions.
• Compliance and risk management: Outsourcing providers can help businesses navigate the complex landscape of cybersecurity regulations and ensure they are compliant with standards like the Protection of Personal Information (POPI) Act.

Preparing for the quantum future

As South African businesses look to the future, it is clear that quantum computing will have a significant impact on the country's cybersecurity landscape. While the technology may not be fully developed yet, it is crucial for businesses to start preparing now.

Outsourcing IT services to a trusted provider can be a cost-effective way for businesses to enhance their cybersecurity and stay ahead of the curve. By leveraging the expertise and resources of an outsourcing provider, businesses can protect themselves against the growing threat of cyber-attacks and prepare for the quantum future.