Within the G7 agenda under the Italian Presidency, the Bank of Italy is organizing a workshop on 'Building the quantum-safe financial system: what role for authorities and for the private sector?'.
By leveraging the principles of quantum mechanics, quantum computing will enable the resolution of computational problems that are currently intractable. This will particularly benefit artificial intelligence, chemistry, quantum simulation, optimization methods, machine learning, and many others that will be profoundly impacted by the advancement of quantum computing. In finance, for example, there will be substantial advances in risk management models and credit scoring. However, this could compromise the encryption technologies currently used for the authentication, transmission, and secure storage of information, severely jeopardizing the stability of the financial and the payments system.
The workshop aims to promote cooperation between the academic world, the financial sector, supervisory and market authorities, and tech companies in order to discuss the risks for encryption techniques associated with the development of quantum computing. Throughout the day, the main solutions currently available and their strategic and policy implications will be discussed to raise awareness among stakeholders about the need for an orderly migration towards a quantum-safe world.
The keynote speaker for this workshop will be Juan Ignacio Cirac Sasturain, who was awarded the Wolf Prize for Physics in 2013.
