Understanding Quantum Computing and the Threat to Cybersecurity
Quantum computing is expected to deliver benefits, and risks, far beyond those of today’s computers. Advances in the field as of 2026 suggest that these systems could begin moving from pilot environments toward larger scale applications within the next decade. This primer is a companion to GRI’s annual Quantum Threat Timeline Report, and outlines key concepts behind quantum computing, potential implications for financial institutions, and basic parameters for planning required changes to an organization’s IT environment.
When sufficiently powerful quantum computers become operational, they could eventually break widely used cryptographic standards. That would affect the integrity of the global digital infrastructure, including financial networks. Because replacing cryptographic systems across large IT environments can take many years, organizations cannot wait until quantum technology is fully mature to assess their exposure and plan for transition. For boards and senior executives, quantum computing should therefore be viewed as a strategic technology risk , rather than a distant technological issue.
To support financial institutions in assessing these risks, the Global Risk Institute has sponsored in-depth, ongoing research examining the quantum threat timeline, the point at which quantum computing could become capable of breaking current cryptographic standards.