- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The U.K. Serious Fraud Office confirmed this week it has opened an investigation into suspected corruption by mining company Rio Tinto.
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Rio Tinto faces large fines if it is found to have engaged in corrupt activity over its massive Simandou iron-mining project in Guinea. Heads have already rolled over it.
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.
