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Quantum computing technology compromises all public-key algorithm

On June 29 & 30, ICT Spring Europe – the Global Tech Conference hosted in Luxembourg – attracted thousands of experts around several key topics for businesses including Cyber Defence & Quantum Computing, under the guidance of Jelena Zelenovic, Senior Head & CISO at the European Investment Bank (EIB).

It’s all about quantum

The second day of ICT Spring started with an intriguing exploration of quantum computing on the main stage. Grégoire Ribordy, the CEO of ID Quantique, captivated the audience with an insightful presentation on the cybersecurity challenges posed by this rapidly-emerging technology. Quantum computing harnesses the laws of quantum mechanics to solve incredibly complex problems that classical computers struggle with. But it also brings a new universe of possibilities and threats to cybersecurity, as quantum computers have the potential to break many of the encryption algorithms currently used to safeguard sensitive data.

Elaborating on this idea, Vasco Gomes, Global CTO & CyberSecurity Products at Eviden, explained when and how to start a migration to post-quantum cryptography. Indeed the advent of quantum computing technology compromises all public-key algorithms, becoming as such vulnerable to criminals and competitors. It is then critical to begin planning for the replacement of hardware, software, and services that use public-key algorithms so that information and data are protected from future attacks.

Navigating the Frontier of Cybersecurity Risks

Fabian Zsolt, Group Cybersecurity Lead at Byborg Enterprises, presented how to build an Enterprise data loss prevention (DLP) to prevent loss or exfiltration of sensitive data to the ultimate new kid on the block: ChatGPT. This keynote set the stage for a dynamic roundtable discussion featuring industry experts such as Sebastien Passelergue, Managing director at My Swiss Keeper, Dalia Khader, CISO at Swiss Life International Division, Nataliia Iskra, Head of Section IT Security at Clearstream Deutsche Boerse Group and the moderator Jelena Zelenovic, Senior Head & CISO at European Investment Bank (EIB).

The panel tackled the pressing topic of emerging risks in cybersecurity and proposed strategies to address them effectively. This 30-minute session was quite enthralling, concluding with two main remarks. Nataliia emphasised that cybersecurity is undoubtedly the solution, but achieving its effectiveness requires educating people and fostering a culture of cybersecurity within organisations—an area where significant progress is yet to be made. Dalia affirmed that cybersecurity specialists should focus not on predicting when risks will arise but on understanding how to mitigate them. Instead of fearing new technologies like AI, professionals should embrace them, grasp their intricacies at the earliest stages, and effectively manage the associated risks.

Cybersecurity and Regulation 

To conclude this morning’s session, Jelena Zelenovic, Senior Head & CISO at the European Investment Bank (EIB), engaged in a thought-provoking discussion on the regulatory aspect of cybersecurity alongside Luc Maquil, Managing Partner at MAQIT. The global landscape has witnessed rapid regulatory changes in recent years, including the introduction of regulations such as DORA, PSD, and GDPR. Companies now face mounting challenges in keeping up with these evolving rules while simultaneously focusing on their core business operations. Implementing ICT risk management and control functions effectively becomes paramount in ensuring compliance and resilient growth.

Technology emerges as the key enabler for mastering regulation, and this holds particularly true for the Digital Operational Resilience Act (DORA), which significantly shifts the chief information security officer (CISO) role and emphasises accountability in cybersecurity. Under DORA, the register for third parties encompasses non-outsourced vendors and all IT-related entities. Arne Matthyssen, Chief Technology and Innovation Officer and Vice-President Benelux of the RHEA Group, further delved into the practical use of Quantum Key Distribution (QKD) for securing existing real business applications, reminding the audience of the importance of understanding end-user needs and opinions. Since quantum technology is still nascent, a comprehensive evaluation of its advantages and disadvantages remains ongoing.

Mastermind Challenge: Igniting innovation and investment opportunities

The morning reached its pinnacle with the Mastermind Challenge, helmed by Dr Kim J. Zietlow, Director at FDI Center. Eight startups seized the opportunity to pitch their groundbreaking solutions to esteemed venture capital firms, including LBAN, LPEA, Ilavska Vuillermoz Capital, Middlegame Ventures, Mangrove Capital, GP Bullhound, and Expon Capital. Ultimately, Arxy Future Lab emerged as the winner. Arxy Future Lab is an advanced technology company revolutionising the shopping experience in fashion and other industries through its immersive virtual platform. This platform enables companies and customers to customise their shopping journey, marking a significant stride in the industry.