Editorial october 2019
On 21 September 2019, a paper, already accepted by Nature, a top-tier scientific journal, revealed that Google had achieved “quantum supremacy”. Using a quantum computer, researchers at Google had carried out a calculation over three minutes that would take Summit, the world’s current-best classical supercomputer, 10,000 years to execute. By way of background, the earliest known attempts at agriculture emerged in Mesopotamia 10,000 years ago…
Moreover, new artificial-intelligence programs and financial machines are also writing their own investing rules, in ways their human creators only partly understand….
These events illustrate how fast technology is evolving and its ability to change the rules of the game… However, the broad principles of market regulation must remain: equal treatment of all customers, equal access to information and the promotion of competition.
For this reason, though modest in light of this “out-of-proportion” change, the adoption of a new prohibition under Belgian competition law (the abuse of economic dependence), the efficient reorganisation of the Belgian competition authority and the joint memorandum of the Belgian, Dutch and Luxembourg competition authorities on the challenges of the digital world were more-than-necessary to face the different challenges that will result from this amazing technological revolution! Other EU Member States and national competition authorities have already adopted this path. Let’s hope the remaining countries and authorities will do the same!
Pierre GOFFINET | European Law, Competition and Regulatory