Rohan Massey Discusses the Impact of the EU AI Act in CFO Dive

“If you have a system that you’ve built your business around that suddenly you’re told you’re not allowed to use – that doesn’t make for a bad day or bad week. That stops your business,” warns Rohan Massey, partner in the data, privacy & cybersecurity practice, in a recent CFO Dive article examining the EU AI Act’s far-reaching consequences for U.S. finance leaders.

With the EU AI Act’s enforcement ramping up, CFOs of multinational companies face complex new compliance demands and potentially steep financial penalties – up to 35 million euros per incident or 7% of global annual revenue, whichever is higher. Massey highlights that, beyond fines, companies risk having critical AI platforms shut down if they fall short of requirements.

Adding to the challenge, the law’s definitions of “AI deployer” and “provider” remain ambiguous, making it difficult for companies to determine their obligations. Massey recommends CFOs proactively budget for legal guidance and staff training, and begin inventorying AI systems to clarify roles and reduce risk.

For more insights on the EU AI Act, listen to Rohan and Edward Machin’s recent R&G Tech Studio podcast or read Edward’s Viewpoints article.