- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
European Union data protection authorities indicated in a recent statement that they will hold off for at least one year any new challenges to the EU-U.S. Privacy Shield. But legal challenges from others concerning its provisions could be on the horizon. Jaclyn Jaeger reports.
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Breaches of the EU’s GDPR can cost companies substantial sums and huge reputational damage. Now some are warning that the implementation of the EU’s AI Act will be just as far-reaching, and could potentially lead to similar numbers of cases.
Any product that uses AI needs to be safety assessed for its entire lifespan under new rules that went into effect recently across the EU. Experts warned companies using AI to tailor products could be classed as “manufacturers” and face the same duty of care as developed.
The U.K. will struggle to shed its reputation as one of the world’s biggest conduits for dirty money due to a combination of patchy intelligence-sharing and poorly resourced enforcement agencies, experts told Compliance Week.
