As our world becomes increasingly tech-savvy, the landscape of product liability is evolving to include cybersecurity as a crucial factor. This article takes a deep dive into how recent legislative changes in the EU and U.S. are redefining product liability in the age of IoT and AI, all while addressing the growing threat of cyber risks.
Key Points
- Regulations are evolving to encompass cybersecurity risks alongside traditional product liability concerns.
- The revised EU Product Liability Directive now includes cyber risks as a significant factor in product defect assessments.
- The rise of IoT devices has significantly increased exposure to cyber threats, with ransomware and data breaches being prime concerns.
- Similar developments are occurring in the U.S., with new labelling programs for IoT products to ensure compliance with cybersecurity standards.
- Companies must adopt a global strategy and maintain thorough compliance records to bolster their legal defences.
Why should I read this?
If you’re in the tech game, you’ll want to keep your ear to the ground on this one! This article is not just a rundown of laws; it’s a heads-up on how to protect your business from the tightening grip of cybersecurity liabilities. With the landscape shifting faster than ever, it’s about time you get ahead of the curve and safeguard your innovations!