Qantas hack shows businesses risk digital disaster from AI, new computing frontier

Quantum computing and AI risk a digital disaster for businesses, shattering cybersecurity defences and reshaping our economy – yet we are dangerously unprepared.

Derek Peterson says AI and quantum computing represent two converging forces exposing not just cybersecurity, but the architecture of our economy.

 Qantas’s data breach should sound the alarm for every Australian business. Yes, Qantas is a high-profile target sitting on a mountain of sensitive customer data. But it’s not just national carriers, banks, health funds and telcos in the crosshairs.

Small and mid-sized businesses are just as exposed, and far less likely to recover when (not if) an attack lands. AI is already reshaping how businesses operate – and how cybercriminals attack.

But quantum computing represents something deeper: a foundational shift in processing power that threatens to break the encryption we all rely on. Together, they represent two converging forces exposing not just cyber­security, but the architecture of our economy.

Australia is not prepared.

I say this as someone who has built companies across the US and now here in Australia. At ROAM Agricultural, we’re using AI and machine learning to identify methane-inhibiting fungal strains that reduce livestock emissions. For the planet, it’s a powerful combination of applied science and digital technology. But every day, I’m reminded that the same tools we use to accelerate positive impact can – and will – be used to do harm.

My concern is that many businesses aren’t aware of what’s coming. But they aren’t to blame. Quantum computing isn’t just unfamiliar. It’s unintuitive. Not just a faster version of traditional computing, but a different architecture, defying rules in the way only quantum theory can.

Standard computers store and process data in the form of binary bits: ones and zeroes, or on/off. Quantum computers use qubits, which can hold multiple states at once. This gives them exponential processing power.

Why does this matter?

Because today’s encryption – the kind we rely on to protect our bank accounts and cloud storage – wasn’t designed to withstand quantum attacks.

When quantum computing hits scale (likely just years away) many of those safeguards will become obsolete. Loyalty programs, health records, cryptocurrency wallets, defence contracts: all vulnerable to rapid decryption.

It isn’t just a Qantas problem. It’s everyone’s. Most small and mid-sized businesses still run legacy analog systems. They can’t fund cyber specialists on staff. They can’t invest in quantum-­resilient encryption.

The result? A two-speed economy where the well-resourced will become more secure, and the rest fall behind, exposing customers and employees in the process.

It’s not just cyber-attacks we need to prepare for. It’s the sheer pace of digital disruption. Quantum and AI will supercharge everything from supply chains to customer engagement. The businesses that adapt will gain a competitive edge. Those that don’t may not survive the transition.

The biggest mistake we can make is assuming it won’t apply to us. Quantum computing isn’t a tech industry issue. It’s about the systems we all rely on, and the customers we serve. AI-enhanced scams are already disrupting businesses: phishing attacks indistinguishable from legitimate emails, deepfake videos asking for wire transfers, or fake customers probing your systems for weakness. Quantum adds another layer; not just smarter attacks, but the breakdown of the very defences we rely on today.

Australia has the brains, the research capability and the tenacity to lead in quantum and AI. We’ve got a strong VC ecosystem, established start-up accelerators, and we’re attracting global quantum projects alongside foundational science. But we need to go further – faster. We should be aiming to make Australia the Silicon Valley of digital trust. What if the next billion-dollar Aussie unicorn offered cybersecurity as a service for SMEs – combining adaptive encryption, AI agents, and business optimisation tools in one secure platform? The global market is real. And the public benefit is enormous.

Australia needs a co-ordinated public-private initiative to help SMEs understand, prepare for and manage quantum-related cyber risk. That means access to tools, education programs, and scalable infrastructure. The alternative is economic vulnerability at scale. Think of it as digital disaster preparedness. We do it for bushfires. Why not cyber storms?

Global players are already investing – from Google’s quantum centre in Brisbane to Firmus Technologies’ AI hub in Tasmania. We have the scientific foundations, emerging platforms and the venture capital appetite to match. What we need now is acceleration: to invest in capability, to build resilience, and to create the tools that will define the next decade.

Derek Peterson is the CEO of ROAM Agricultural.

Originally published as Qantas hack shows businesses risk digital disaster from AI, new computing frontier