Organizations are unprepared for the risks posed by quantum computing, IBM’s Europe and Africa vice president Alessandro Curioni told AFP Wednesday, referring to the high-speed technology that could crack security encryptions and enable large-scale cyberattacks.

“If you look at the world, how many organizations became quantum-safe? I would say less than 10% today,” Curioni said on the sidelines of a London conference organized by the American technology pioneer.

IBM, a leader in the field competing against Microsoft and Google, aims to develop a “large-scale, fault-tolerant” quantum computer for commercial clients by 2029.