Finance Laws Could Shield Society from Quantum Risks
Existing legislation which governs finance and investment can help to protect society from the dangers associated with advances in quantum computing, a new study shows.
Fiduciary law could support the technology to be used in a legally, ethically, and socially acceptable way.
It is hoped quantum computing could solve problems too complex for classical computers and do so with much greater speed and efficiency. But it also threatens to evade human know-how, understanding and, therefore, control.
Fiduciary governance is used in the financial sector to manage assets and resources on behalf of others. The analysis says the same structures could also help people address the risks associated with the public governance of quantum computing.
The study, by Dr Robert Herian from the University of Exeter Law School, says experts have an important part to play in the governance of quantum computing, but democracy and governments should be responsible for oversight and accountability.
It says those responsible for the UK government’s National Quantum Strategy should take seriously the stated need to find a balance between innovation and ethical considerations.
Dr Herian said: Quantum computing requires significant oversight to protect the interests of citizens and hold accountable those that breach duties and obligations within the scope and competence of public governance, both private and public actors alike. Fiduciary governance ensures the monitoring, stewardship, and guardianship of the technology and its use within civic domains for the public benefit. Fiduciary governance can operate as a supplementary means alongside existing regulations, including data and consumer protections, to manage human behaviours, interests, and expectations relating to the implementation and use of QC in the service of civic aims.
“Enabling or ensuring public faith in governments to implement quantum computing in the best interests of citizens is a vexed issue, one that requires a robust yet flexible means of accountability able to test boundaries and enforce breaches.
“From optimizing resource allocation to enhancing data security, accelerating scientific research, and revolutionizing public policy, QC can revolutionize the way governments serve their citizens if the technology is managed for the benefit of the many.
“Successful integration of QC into public governance requires careful stewardship as well as planning and investment. It is imperative that governments understand the potential of QC and work towards harnessing its power to reap the many benefits on the horizon, to better address the complex challenges of the modern world and ensure the well-being of their citizens.”
https://news.exeter.ac.uk/faculty-of-humanities-arts-and-social-sciences/laws-governing-finance-and-investment-can-help-to-protect-society-from-dangers-of-quantum-computing-study-shows/