Bain & Company partners with IBM on post-quantum cryptography services
Bain & Company, a Boston-headquartered management consulting firm, has partnered with IBM Consulting on the delivery of post-quantum cryptography (PQC) assessments to private equity and corporate clients.
Quantum computing is an emerging field that leverages quantum mechanics to solve complex problems outside the abilities of even the most powerful classical computing systems. With the field advancing towards commercialization of real-world applications, quantum computing poses a risk to current encryption standards that protect a company’s data and IP. As such, it is another element that private equity and corporate buyers should examine in the course of their due diligence.
“Quantum computing is moving from theory to reality. It also brings a hard deadline: many of today’s encryption standards won’t hold forever. Companies that start upgrading now will protect customers, protect value, and stay ahead of the risk,” said Chuck Whitten, global head of digital practices and capabilities at Bain.
Although corporate leaders acknowledge post-quantum cryptography (PQC) solutions are becoming an urgent necessity, Bain says few companies have a strategy in place to deliver the requirements.
The Bain and IBM collaboration combines Bain’s diligence expertise with IBM Consulting’s quantum-safe transformation services to help clients close the readiness gap.
“Our collaboration with IBM strengthens our ability to help acquirers spot cryptography risk early and take action,” Whitten added. “Post-quantum readiness should be treated like any other critical technology risk in a deal, and we’re excited to bring leading-edge capabilities to protecting client’s businesses and investments.”
The partners will help clients develop a quantum-safe roadmap, identify vulnerable assets that require remediation, and execute a transition strategy to reduce risk.
Bain and IBM expect to collaborate on priority use-cases in areas such as metallurgy, pharmaceuticals, and materials science.
