A global cyber security firm is warning New Zealand enterprises to take action now to protect their digital assets as the dual risks of AI and the year to quantum (Y2Q) are approaching faster than expected.
Y2Q emerged as the Y2K moment with potential to decrypt virtually all commonly used encrypted device from door locks to data.
Fortinet senior executives were visiting New Zealand this week to the latest cyber security intelligence with large organisations responsible for critical data and infrastructure, including health, finance, energy and other utility sectors.
The dual technologies will make easy work of decrypting the security of most existing digital devices and systems, somewhere between 2029 and 2030, without upgrading to meet the emerging risks.
"What we are particularly worried is infrastructure," Fortinet senior vice president Filippo Cassini said.
But the warning was intended for everyone, including big and small businesses, as well as consumers.
AI a "double-edged sword"
Cassini said AI had huge potential for positive growth, but was a double-edged sword.
"It can be used as defence, but it also can be used as weapon," he said.
"And the call for everyone is become more aware of its potential, so that they can use it for good."
Investment drives speed of change
Fortinet vice president of product management Wei Ling Neo said there was no time to waste.
She said investment in AI meant the speed of change was accelerating.
"(It) has been shortened by a lot of investments into quantum computing, which has brought the timeline much closer to 29 and 2030, for when we will have a viable quantum computer that will be able to decrypt the current algorithms that we use."
Cassini said bad actors were already preparing for Q-Day.
Harvest Now, Decrypt Later (HNDL) was a widespread surveillance and attack strategy where cyber criminals collect encrypted data today and store for Q-Day, when decryption becomes possible.
"I think a lot of organisations today are very focused on AI and not really inventorying the type of infrastructure, the type of data they're handling," she said.
"The timeline is getting shorter and shorter for them to be ready, to protect against quantum threat."
Legacy systems containing outdated or archived data will need to be protected or purged.
That will come with a cost either way, but should be given a high priority considering current regulations requiring organisations to safeguard sensitive data.
Software upgrades essential
The upgrades would be costly for businesses, but also for consumers who might find there were no software updates available to protect their equipment.
Cassini said consumers should assess their own risks and be sure to buy digital devices with software upgrades.
"I think they should be looking at how safe and upgradable it is," he said.
"It's a little bit of extra money, but I think it's worth it."
The European Commission had already signalled the need to protect consumers with mandatory software update commitments for digital products effective from 2030.
The full story
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