High Awareness Of Quantum Risks, But Lack Of Preparation Remains A Concern, Finds Entrust

A new report by the Entrust Cybersecurity Institute reveals a growing awareness but a worrying lack of readiness among ANZ businesses to face the post-quantum era. The 2024 PKI and Post Quantum Trends Study shows that while many organisations recognise the risks of post-quantum cryptography (PQC), only one-third have started preparing to make the transition. This lack of readiness leaves businesses vulnerable to potential quantum-enabled cyber threats, a gap that Entrust says must be closed sooner rather than later.

The study, conducted by the Ponemon Institute, surveyed IT and security professionals across Australia and New Zealand and found a marked shift in perception toward quantum threats. Entrust reports that industry questions have evolved from “is the PQ threat real?” to “what do I need to do?” and “how do I get started?” This shift is seen as a positive sign of awareness, yet the report’s findings suggest that translating awareness into action remains a significant hurdle. Insufficient budgets, inadequate technical infrastructure, and lack of skilled personnel are among the major barriers cited by respondents.

ANZ’s business sectors have been slow to adopt a cohesive approach to PQC readiness, with NIST’s recent release of post-quantum encryption standards providing an added sense of urgency. Samantha Mabey, Director of Digital Solutions Marketing at Entrust, believes the data highlights a critical gap between understanding the threat and actively preparing for it. “The challenge now,” Mabey said, “is equipping organisations with the tools, expertise, and technology to transition securely into a quantum-safe future.”

Key findings from the report point to fragmented policies, inconsistent requirements, and unclear ownership over cryptographic strategies as prevalent issues. Nearly half of respondents reported that enabling public key infrastructure (PKI) in their organisations was hindered by fragmented requirements, while 45% cited the lack of technology and computing power as a significant barrier to PQC readiness. Despite high awareness, businesses remain underprepared to handle the complexities of quantum-safe encryption and implementation.

As the quantum threat inches closer, Entrust’s study suggests that addressing these barriers must be a priority for ANZ’s business sectors in 2025. For organisations to secure their operations and protect sensitive data in the quantum age, Entrust recommends bolstering cryptographic assets, committing to budget allocations, and investing in personnel training. The report calls for a unified effort to transition to PQC and avoid leaving critical digital assets at risk.

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