New Jersey, United States, Oct. 13, 2022 /DigitalJournal/ The Population Health Management Market research report provides all the information related to the industry. It gives the markets outlook by giving authentic data to its client which helps to make essential decisions. It gives an overview of the market which includes its definition, applications and developments, and manufacturing technology. This Population Health Management market research report tracks all the exact developments and innovations in the market. It gives the data regarding the obstacles while establishing the business and guides to overcome the upcoming challenges and obstacles.
Population health management refers to the process of improving the clinical health outcomes of a defined group of people through better coordination of care and patient engagement supported by appropriate financial and care models. The medical industry is rapidly transforming from a paper-based system to a digitized system, accelerating the demand for healthcare IT services. In addition, the growing demand for solutions that support value-based care delivery by healthcare stakeholders has resulted in a shift from fee-for-service (FFS) models to fee-based payment models. value (VBP). Increasing demand for effective disease management strategies is also expected to drive market growth.
Get the PDF demo Copy (Including FULL TOC, Graphs, and Tables) of this report @:
This Population Health Management research report throws light on the major market players thriving in the market; it tracks their business strategies, financial status, and upcoming products.
Some of the Top companies Influencing this Market include:IBM, Optumhealth, Cerner, Healthagen, Verscend Technologies, I2I Population Health, Epic, Orion Health, Forward Health, Change Healthcare, GSI Health, EClinicalWorks,
Firstly, this Population Health Management research report introduces the market by providing an overview that includes definitions, applications, product launches, developments, challenges, and regions. The market is forecasted to reveal strong development by driven consumption in various markets. An analysis of the current market designs and other basic characteristics is provided in the Population Health Management report.
The region-wise coverage of the market is mentioned in the report, mainly focusing on the regions:
Segmentation Analysis of the market
The market is segmented based on the type, product, end users, raw materials, etc. the segmentation helps to deliver a precise explanation of the market
Market Segmentation: By Type
Market Segmentation: By Application
Payers, Providers, Employers,
For Any Query or Customization: https://a2zmarketresearch.com/ask-for-customization
An assessment of the market attractiveness about the competition that new players and products are likely to present to older ones has been provided in the publication. The research report also mentions the innovations, new developments, marketing strategies, branding techniques, and products of the key participants in the global Population Health Management market. To present a clear vision of the market the competitive landscape has been thoroughly analyzed utilizing the value chain analysis. The opportunities and threats present in the future for the key market players have also been emphasized in the publication.
This report aims to provide:
Table of Contents
Global Population Health Management Market Research Report 2022 – 2029
Chapter 1 Population Health Management Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Population Health Management Market Forecast
Buy Exclusive Report @: https://www.a2zmarketresearch.com/checkout
1887 WHITNEY MESA DR HENDERSON, NV 89014
+1 775 237 4157
“We do business with … the top 100 insurance companies in the world,” said Mark McLaughlin (pictured), IBM’s general manager of insurance.
That reality appears to be not widely known.
“The number one complaint I hear from our customers, from our insurtech partners and from our salespeople is ‘I didn’t know IBM did that,’” McLaughlin said during the exact ITC 2022 conference in Las Vegas. “I don’t think we’ve gotten the word out as much as we need to.”
McLaughlin, speaking during the exact ITC 2022 conference in Las Vegas, explained that the company’s insurance industry business is quite substantive, helping insurer clients pull together software, data, AI, security, and services. IBM also offers process consulting, process automation, technical assistance support and hardware capabilities.
IBM’s insurance reach includes personal lines, commercial lines, life insurance, group benefits and reinsurance, McLaughlin noted.
McLaughlin, in his current position for about six months, handled R&D strategies for the insurance industry at IBM before that. Going back further, he’s a 15-year veteran of IBM’s insurance practice.
McLaughlin noted that many insurers still use mainframes and have huge investments in their core operational systems, while others are looking at cloud-based applications and trying to figure out how to customize that technology to their needs. Still others are trying to partner with insurtechs to take advantage of their distribution, digital capabilities, models and newer sources of data. IBM, he said, works in all scenarios.
“We catalyze [products and services] across that,” McLaughlin said. “IBM is really investing a great deal of money to provide the sort of connective glue that helps connect the legacy systems that you might still need, and also modernize the systems that you decide you don’t need.”
The goal, he said is to connect those technology pieces to data in the insurtech “layer.”
IBM also helps insurance companies automate, he said.
“I’ve got automation tools, AI models, I’ve got different AI capabilities, but I have to deploy those across an average of 14 policy administration systems that insurance companies carry,” McLaughlin said.
IBM has long provided business consulting to insurance companies, via its database tools, to help them with challenges such as pricing more efficiently. The emergence of insurtechs has led IBM to expand its focus toward helping clients partner with startups. Insurers have plenty in this area with which they need help, McLaughlin explained.
“People think the insurtechs are trying to displace the insurers … but most of them, honestly, just want to partner with the insurer and build a better mousetrap and do claims faster or market better,” McLaughlin said. “We are about, how do you connect with [them] quickly. The number one thing that insurers complain to us about is speed to market. They know they have to roll-out value added services. They know they have to have a mobile experience that connects with insurers. Doing that and the sprawl of IT that insurers have today –it’s really hard and takes a long time.”
In the insurtech age, some insurers are getting rid of their old legacy systems and replacing them with cloud-based platforms that are easier to adapt and modernize. Insurtechs, in turn, often pronounce those older networks as outdated and unnecessary in today’s market. According to McLaughlin, it’s not as simple as getting rid of an older system and replacing it with something new.
“You have to think about ‘what are the characteristics of your insurance workload’ and ‘where is the best place to run that workload?’ In that world, theirs is going to be a mix of public cloud, private cloud, mainframe and specialized data appliances in … an existing data center,” McLaughlin said. “Most insurers report that as the future.”
At the same time, McLaughlin declined to advocate for a specific must-have technology for insurers in the insurtech age. Instead, he urges insurers to avoid “locking” themselves into a rigid technology option.
“If you are stuck on one core, if you are stuck with one cloud, you are limited in your ability to compete relative to insurance companies,” McLaughlin said.
AI and in-depth data analytics are also particularly useful these days toward helping insurers strengthen their customer base, he added.
“We have to know our customers better [and] we have to know our risks better,” McLaughlin said. “We have to be able to deploy those insights in ways that help insurance and healthcare distributors serve insurance more effectively.”
IBM shook up the digital health space Friday with the news that it is selling its healthcare data and analytics assets, currently part of the Watson Health business, to an investment firm. The sale price is reportedly more than $1 billion, although the companies are not officially disclosing the financial terms.
There are a lot of interesting factors to consider as we unpack this news, although some thought leaders say the divestiture did not come as a surprise.
“The Watson Health sale has been anticipated for quite some time. IBM was clearly not gaining much traction in the healthcare market while others such as Google and Microsoft have pulled ahead. Even Oracle has made a big splash in healthcare with its exact announcement to acquire Cerner," said Paddy Padmanabhan, founder and CEO of Damo Consulting, a growth strategy and digital transformation advisory firm that works with healthcare and technology companies.
IBM was one of the first big tech companies to dive into healthcare with its well-known Watson Health supercomputer known for defeating the greatest champions on “Jeopardy!" The platform created a lot of buzz back in 2011, and many people had high hopes for the platform's potential applications in healthcare. In exact years, however, that buzz has significantly died down.
"In the current competitive landscape, IBM would not be considered a significant player in healthcare. Selling off the data assets essentially means an end to the Watson Health experiment; however, it may allow IBM as an organization to refocus and develop a new approach to healthcare,” Padmanabhan said.
Assuming there are no regulatory snags, the deal is expected to close in the second quarter of this year.
“Today’s agreement with Francisco Partners is a clear next step as IBM becomes even more focused on our platform-based hybrid cloud and AI strategy,” said Tom Rosamilia, senior vice president of IBM Software. “IBM remains committed to Watson, our broader AI business, and to the clients and partners we support in healthcare IT. Through this transaction, Francisco Partners acquires data and analytics assets that will benefit from the enhanced investment and expertise of a healthcare industry focused portfolio.”
The agreement calls for the current management team to continue in similar roles in the new standalone company, serving existing clients in life sciences, provider, imaging, payer and employer, and government health and human services sectors.
“We have followed IBM’s journey in healthcare data and analytics for a number of years and have a deep appreciation for its portfolio of innovative healthcare products,” said Ezra Perlman, co-president at Francisco Partners. “IBM built a market-leading team and provides its customers with mission critical products and outstanding service.”
In 2016 IBM doubled the size of its Watson Health business through the $2.6 billion acquisition of Truven Health Analytics. Truven offers healthcare data services targeted at employers, hospitals, and drug companies, and makes software that can parse through millions of patient records. Truven's main offices are in Ann Arbor, MI, Chicago, and Denver. At the time of the acquisition, Truven had around 2,500 employees.
The Truven deal followed other major healthcare acquisitions in the company, including Cleveland-based Explorys, Dallas-based Phytel, and Chicago-based Merge Healthcare. The company paid about $1 billion for Merge.
IBM said the assets acquired by Francisco Partners include extensive and diverse data sets and products, including Health Insights, MarketScan, Clinical Development, Social Program Management, Micromedex, and imaging software offerings.
Padmanabhan said it will be interesting to see how the new owners are able to leverage those data assets.
“IBM’s decision to sell its data assets is an indication that it’s not just enough to have the data. Applying advanced analytics on the data to generate insights that can make a difference in real-world applications is where the true value lies. IBM had several missteps early on, especially in cancer care applications, that created significant setbacks for the business that they could not recover from.
In 2018, the Watson Health business went through a round of layoffs. The company declined to tell MD+DI at the time how many of employees were let go other than to say it was a "small percentage" of the global business, but online commenters on TheLayoff.com and Watching IBM, along with multiple news reports citing unnamed sources from within the organization painted a different picture of the situation. One Dallas-based commenter on TheLayoff.com said that "we all knew it was coming but nobody expected it to be this fast and rampant," while another commenter estimated that 80% of that same Dallas-based office was let go.
While we have seen a trend in exact years with big tech firms showing an interest in healthcare, some of those companies are finding those efforts to be easier said than done.
“IBM’s decision to sell the Watson Health assets is another instance of a big tech firm acknowledging the challenges of the healthcare space. Last year, Google and Apple had significant setbacks, and Amazon has acknowledged challenges in scaling its Amazon Care business," Padmanabhan said. "In IBM’s case, they have missed out on the cloud opportunity and have lagged behind peers in emerging technology areas such as voice. While IBM’s challenges with Watson Health may have been unique to the organization, the fact is that big tech firms have multiple irons in the fire at any time, and for some healthcare may just be too hard.”
Padmanabhan does not think, however, that IBM's decision to sell the Watson Health assets is an indictment of the promise of AI in healthcare.
"Our research indicates AI was one of the top technology investments for health systems in 2021," he said. "Sure, there are challenges such as data quality and bias in the application of AI in the healthcare context, but by and large there has been progress with AI in healthcare. The emergence of other players, notably Google with its Mayo Partnership, or Microsoft with its partnership with healthcare industry consortium Truveta are strong indicators of progress."
Padmanabhan is co-author with Edward W. Marx, of Healthcare Digital Transformation: How Consumerism, Technology and Pandemic are Accelerating the Future (2020), and the host of The Big Unlock, a podcast focusing on healthcare digital transformation.
The MarketWatch News Department was not involved in the creation of this content.
Oct 12, 2022 (AmericaNewsHour) -- Key Companies Covered in the Business Process Outsourcing In Healthcare Market Research Report Are Accenture (Ireland), Cognizant (US), Infosys BPM (India), IBM Corporation (US), IQVIA (US) and other key market players.
SDKI added a report on 'Business Process Outsourcing in Healthcare Market, 2022-2031' to its database of market research collaterals consisting of overall market scenario with prevalent and future growth prospects, among other growth strategies used by key players to stay ahead of the game. Additionally, exact trends, mergers and acquisitions, region-wise growth analysis along with challenges that are affecting the growth of the market are also stated in the report.
The Global Business Process Outsourcing in Healthcare Market is anticipated to observe a significant growth during the forecast period which can be attributed to the improving healthcare services and facilities across the globe. The advancements in healthcare industry have led to a rise in healthcare spending by people, thereby increasing the expenditure on prescription drugs, hospital spending and physician and clinical services. In the United States, the expenditure on prescription drugs is estimated to observe an average growth rate of 4.6% in 2020 as compared to an estimated 3.3% growth rate in 2018.
"The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).
Download PDF demo Report For More Information@: https://www.sdki.us/sample-request-55427
This is further projected to grow at an average rate of 6.1% per year during 2022-2031. For hospital expenditure, the projected growth rate is an estimated 5.1% in 2019 from 4.4% average growth in 2018, which is anticipated to grow further by an average growth rate of 5.7% between 2020 and 2028. Moreover, the physician and clinical services expenditure is projected to grow at an average rate of 5.4 during 2022-2031.
This Report covers about :
Rising investments in the healthcare industry by various regions across the world is another factor estimated to augment the growth of this sector. According to the EU Industrial R&D Investment Scoreboard, the health sector held around 7.7% share in the growth of R&D sector globally, which was the highest share out of all other sectors in 2018. Moreover, the increasing employments in the industry is another growth driving factor. For instance, the global healthcare industry witnessed an increase of employment numbers with 3.5 million employments in 2017 from 2.5 million employments in 2008. In the Europe region, these numbers went from 1 million in 2008 to 1.4 million in 2017. This is anticipated to substantially impact the growth of Business Process Outsourcing in Healthcare Market by 2031.
"The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market)."
To Know How our Report Can Help Streamline Your Business, Ask an Analyst@: https://www.sdki.us/sample-request-55427
The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, exact developments, and share of the overall industry.
Global Key Players Include in this Market is:
Furthermore, to provide better understanding of internal and external marketing factors, the multi-dimensional analytical tools such as SWOT and PESTEL analysis have been implemented in the global Business Process Outsourcing in Healthcare Market report. Moreover, the report consists of market segmentation, CAGR (Compound Annual Growth Rate), BPS analysis, Y-o-Y growth (%), Porter's five forces analysis, absolute $ opportunity and anticipated cost structure of the market.
About SDKI :
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
For more information, please contact:
Shibuya Data Count
Tel: + 81 3 45720790
The MarketWatch News Department was not involved in the creation of this content.
More than 272 million metric tons of plastic are produced each year around the globe, most of which ends up in landfills and waterways. One-quarter of that is made up of PET, a plastic commonly used in food and beverage packaging such as water bottles (bearing the #1 recycling label) and polyester clothing.
To combat this problem, IBM researchers recently created a technology called VolCat, a catalytic chemical process that can turn PET into a renewable resource. The cost-effective and sustainable innovation “digests” PET using a precise combination of chemicals, heat and pressure.
Bob Allen, a chemistry and materials researcher for IBM who specializes in polymer materials with expertise in catalysts, told PlasticsToday that the new process that he helped to develop is akin to the depolymerization process that some companies are currently offering. “Depolymerization has been around for a long time. Among the questions that have to be answered: Is it economical and how robust is the process?” said Allen.
“What makes our process a little different is that we perform catalytic recycling, which is extremely selective in seeking out and finding polyester material in the witches’ brew of waste material. The polyester content is then repolymerized into new PET. Because there are two molecules of ethylene glycol attached to it, it can make new PET very easily.”
Allen noted that preliminary testing shows that value can be created by making new batches of PET from “very challenging mixed waste” materials. IBM’s process reportedly creates new PET that is indistinguishable from virgin PET. “Once the process is finished, because our catalyst is a volatile compound and the catalyst goes away from the reaction mixture, we recover and recycle all the catalyst,” he said. “There’s no waste involved in the VolCat catalytic process.”
The most innovative aspect of the VolCat process is that it eliminates the need for manual sorting because “the molecule does the sorting,” Allen explained.
Allen said that the VolCat process can reduce the amount of plastic being sent to landfills because it addresses the concerns of processors regarding contamination. “PET waste from a recycling plant might contain 90% PET, but regardless of how high quality the recycling stream is, they can’t take colored PET bottles. There’s not a lot that can be done with colored PET,” explained Allen. “Using the VolCat molecular sorting process, selective digestion just chews up the polyester component and makes new PET with the same properties as virgin PET. Foreign matter from municipal curbside collection that contains dirt, labels and adhesives—just chuck it all in and let VolCat run amok on the polyester to isolate the pure monomer from that mess and make new PET. This unbelievable catalyst is completely recoverable and completely ignores all this other material.”
Currently, VolCat is still in IBM’s laboratory and has not yet been commercialized. However, said Allen, “pilot discussions” are underway with several companies.
“Innovation is really required to move the industry from where we are today to something that takes advantage of this waste as a natural resource,” Allen concluded. “We feel strongly that material and process innovation is key to helping the world with the waste plastic issue. We want to move the VolCat process out of the lab and into the world as quickly as we can.”
The MarketWatch News Department was not involved in the creation of this content.
Oct 10, 2022 (Alliance News via COMTEX) -- Quadintel's exact global IBM Watson Services market research report gives detailed facts with consideration to market size, cost revenue, trends, growth, capacity, and forecast till 2030. In addition, it includes an in-depth analysis of This market, including key factors impacting the market growth.
The global IBM Watson Services market is anticipated to grow at a CAGR of around 32.5% over the period of next 5 years.
This study offers information for creating plans to increase the market’s growth and effectiveness and is a comprehensive quantitative survey of the market.
Download Free demo of This Strategic Report :-https://www.quadintel.com/request-sample/ibm-watson-services-market/QI046
For industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders searching for vital industry data in easily accessible documents with clearly presented tables and graphs, the research contains historical data from 2017 to 2020 and predictions through 2030.
A component of IBM Corporation, The IBM Watson is a cognitive computing platform which aids in efficiency and agility of businesses by incorporating AI and other related technologies with advanced hypothesis generation and analytical algorithms.
It integrates various cognitive techniques for facilitating construction of software by crafting dialogues and defining intents for simulating conversion. These services are employed for processing insights, relationships and patterns across un-structured images, social media, emails and others.
The Watson introduced to shape businesses more intelligent; is delivered as a Software-as-a-Service on cloud and can be called by its clients using a small code snippet embedded in their system.
The growth of this market is attributed towards major relying factors including the proliferating usage ofIBM Watson servicesin healthcare & analytics across various regions, the growing demand for cognitive insight & digital technology globally and the rising number of technological advancements in healthcare as well as medical devices substantially etc.
Additionally, the advent of technologies such as machine learning, artificial intelligence, cognitive computing, natural language processing (NLP), data mining, and advanced text analytics have changed the whole working scenario of the healthcare industry. From quicker decision making, assisting in disease diagnosis, optimizing patient selection for clinical trials with intelligence matching, screening of patients? structured & unstructured data, fast marketing of new drug, the technological platforms of IBM Watson have been effectively aiding in the operations of healthcare sector over the past few years, which is thereby opening enormous growth opportunities for the market players existing in the market and eventually assisting in the growth of the overall market considerably.
Moreover, IBM Watson Services are also in extensive use in the media and entertainment industry since the last years and is contributing in the fueling of the market growth comprehensively.
Furthermore, other factors such as the effective and process downtime features of IBM Watson, the proliferating demand for collection of patient data in healthcare facilities, the rapid emergence of innovative drugs, the growing revolution in the field of medical devices & healthcare facilities and the increasing importance of data generated from the patients further augment the growth of the market.
However, few factors pertaining to IBM Watson Services such as the lack of trained professionals, the unstructured and fragmented data structuring technology, the imperfections in AI methodologies, their inability of making connections with different corpora, language issues, concerns relating to maintenance, the high switching cost and time-intensiveness involved in installation and training of the process are major barriers which hamper the growth of this market.
Access full Report Description, TOC, Table of Figure, Chart, etc. @https://www.quadintel.com/request-sample/ibm-watson-services-market/QI046
IBM WATSON SERVICES MARKET SEGMENTATION:
Watson Knowledge Catalog
Watson AI Assistant
Watson IoT Platform
Watson Speech to Text (STT)
Watson Text to Speech (TTS)
Watson Language Services
Watson Visual Recognition
Watson Tone Analyzer
Watson Personality Insights
Watson Data Refinery
Watson Machine Learning
Watson Deep Learning
Watson Compare and Comply
By End User Industry:
Discrete & Process Manufacturing
Media & Entertainment
Transportation & Logistics
Travel & Tourism
Middle East & Africa
The North America region followed by the European region holds the largest share in the IBM Watson Services market. The region is also expected to bolster tremendous growth in the upcoming years owing to factors such as the introduction of the Watson development platform in region by IBM for various purposes, the acquisition of a leading digital marketing & creative agency based in the U.S., Resource/Ammirati by IBM with a goal to create transformative brand experiences, the surging application of IBM Watson APIs for providing interactive mobile experiences to consumers in the region and the successful development of the production capacities of industries by these services in the region etc. The major contributors to the region include U.S and Canada.
The Asia Pacific region is the fastest growing regional market for IBM Watson Services in the world and is projected to also grow robustly in the upcoming years as well. The growth in the region can be attributed to factors such as the growing adoption of technologies such as blockchain, cognitive computing and others in various industries for assisting in commercialization and rapid prototyping of the client?s solutions in the region and the expansion of IBM?s headquarters in the major economies of this region etc. Japan, South Korea, India and China are the major contributors to this region?s growth.
Download demo Report, SPECIAL OFFER (Avail an Up-to 30% discount on this report ): -https://www.quadintel.com/request-sample/ibm-watson-services-market/QI046
FEW KEY PLAYERS IN IBM WATSON SERVICES MARKET:
KPMG International Limited
Tata Consultancy Services Limited
Datamato Technologies Private Ltd.
Mainline Information Systems Inc.
DXC Technology Limited Accenture Plc
Deloitte Touche Tohmatsu Ltd.
Tech Mahindra limited
In February 2021, Humana Inc. and IBM Watson Health announced a collaboration leveraging IBM?s conversational artificial intelligence (AI) solution to help provide a better member experience while providing greater clarity and transparency on benefits and other related matters for Humana Employer Group members. As part of the agreement, Humana will deploy IBM Watson Assistant for Health Benefits, an AI-enabled virtual assistant built in the IBM Watson Health cloud.
In February 2021, IBM and Palantir Technologies announced a new partnership consisting of IBM?s hybrid cloud data platform designed to deliver AI for business, with Palantir?s next generation operations platform for building applications. The product is expected to simplify how businesses build and deploy AI-infused applications with IBM Watson and help users access, analyze, and take action on the vast amounts of data that is scattered across hybrid cloud environments without the need for deep technical skills. The new product, Palantir for IBM Cloud Pak for Data, is planned to be mace available in March of 2021.
Request Full Report : -https://www.quadintel.com/request-sample/ibm-watson-services-market/QI046
We are the best market research reports provider in the industry. Quadintel believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Quadintel is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.
We will help you in finding the upcoming trends that will entitle you as a leader in the industry. We are here to work with you on your objective which will create an immense opportunity for your organization. Our priority is to provide high-level customer satisfaction by providing innovative reports that enable them to take a strategic decision and generate revenue. We update our database on a day-to-day basis to provide the latest reports. We assist our clients in understanding the emerging trends so that they can invest smartly and can make optimum utilization of resources available.
Get in Touch with Us:
The MarketWatch News Department was not involved in the creation of this content.
The world of cryptography moves at a very slow, but steady pace. New cryptography standards must be vetted over an extended period and therefore new threats to existing standards need to be judged by decades-long timelines because updating crypto standards is a multiyear journey. Quantum computing is an important threat looming on the horizon. Quantum computers can solve many equations simultaneously, and based on Shor’s Algorithm, crypto experts estimate that they will be able to crack asymmetric encryption. In addition, Grover’s algorithm provides a quadratic reduction in decryption time of symmetric encryption. And the question these same crypto experts try to answer is not if this will happen, but when.
Today’s crypto algorithms use mathematical problems such as factorization of large numbers to protect data. With fault-tolerant quantum computers, factorization can be solved in theory in just a few hours using Shor’s algorithm. This same capability also compromises cryptographic methods based on the difficulty of solving the discrete logarithm problems.
The term used to describe these new, sturdier crypto standards is “quantum safe.” The challenge is we don’t know exactly when fault-tolerant quantum computers will have the power to consistently break existing encryption standards, which are now in wide use. There’s also a concern that some parties could obtain and store encrypted data for decryption later, when suitably capable quantum computers are available. Even if the data is over ten years old, there still could be relevant confidential information in the stored data. Think state secrets, financial and securities records and transactions, health records, or even private or classified communications between public and/or government figures.
U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) believes it’s possible that RSA2048 encryption can be cracked by 2035. Other U.S. government agencies and other security-minded entities have similar timelines. Rather than wait for the last minute to upgrade security, NIST started a competition to develop quantum-safe encryption back in 2016. After several rounds of reviews, on July 5th of this year, NIST chose four algorithms for the final stages of review before setting the standard. IBM developed three of them, two of those are supported in IBM’s Z16 mainframe today.
The new IBM crypto algorithms are based on a family of math problems called structured lattices. Lattice problems have a unique characteristic that will make it reasonably difficult to solve with quantum computing. Structured lattice problems require solving for two unknowns – a multiplier array and an offset and is extremely difficult for quantum computing to solve the lattice problems. The shortest vector problem (SVP) and the closest vector problem (CVP) – upon which lattice cryptography is built – is considered extremely difficult to a quantum computer to solve. Each candidate crypto algorithm is evaluated not just for data security, but also for performance - the overhead cannot be too large for wide spread use.
The final selections are expected in 2024, but there’s still a chance there will be changes before the final standards are released.
IBM Supports Quantum Safe in New Z-Series Mainframes
IBM made a strategic bet before the final NIST selections. The recently released IBM Z16 Series computers already support two of the final four quantum safe crypto candidates: the CRYSTALS-Kyber public-key encryption and the CRYSTALS-Dilithium digital signature algorithms. IBM is set to work with the industry to substantiate these algorithms in production systems. Initially, IBM is using its tape drive storage systems as a test platform. Because tape is often used for cold storage, it's an excellent medium for long-term data protection. IBM is working with its client base to find the appropriate way to roll out quantum-safe encryption to the market. This must be approached as a life cycle transformation. And, in fact, IBM is working with its customers to create a crypto-agile solution, which allows the exact crypto algorithm to change at any point in time without disrupting the entire system. It’s not just a rip and replace process. With crypto-agility, the algorithm is abstracted from the system software stack so a new algorithms can be deployed seamlessly. IBM is developing tools making crypto status part of the overall observability with a suitable dashboard to see crypto events, etc.
These new algorithms must be deployable to existing computing platforms, even at the edge. However, it's not going to feasible to upgrade every system; it’s probably going to be an industry-by-industry effort and industry consortia will be required. For example, IBM, GSMA (Global System for Mobile Communication Association), and Vodafone recently announced they will work via a GSMA Task Force to identify a process to implement quantum-safe technologies across critical telecommunications infrastructure, including the networks underpinning internet access and public utility management. The telecommunication network carries financial data, health information, public-sector infrastructure systems, and sensitive business data which needs to be protected as it traverses global networks.
What’s Next for Quantum Safe Algorithms
Fault-tolerant quantum computing is coming. When it will be available is still a guessing game, but the people who most care about data security are targeting 2035 to have quantum-safe cryptographic algorithms in place to meet the threat. But that’s not good enough. We need to start protecting critical data and infrastructure sooner than that, considering the length of time systems are deployed in the field and data is stored. Systems such as satellites and power stations are not easy to update in the field.
And there’s data that must be stored securely for future retrieval, including HIPAA (for medical applications), tax records, toxic substance control act and clinical trial data, and others.
Even after the deployment of these new algorithms, this is not the end – there may still be developments that can break even the next generation quantum-safe algorithms. The struggle between those that want to keep systems and data safe and those that want to crack them continues and why companies should look to building in crypto agility into their security plans.
Tirias Research tracks and consults for companies throughout the electronics ecosystem from semiconductors to systems and sensors to the cloud. Members of the Tirias Research team have consulted for IBM and other companies throughout the Security, AI and Quantum ecosystems.
52 week range
114.56 - 144.73