Exposed steel mesh

A corner of my shell construction was poured with concrete. Inside are steel rods. Due to a measurement error, the concrete was removed down to the steel mesh. Can anything happen if the concrete does not encase the steel?

Sure, it rusts and thus loses its static function - is something going to be applied over it again?

so insulation will definitely be added.

That's not enough - the steel should have some function, right?