The Algorithmic Accountability Act is aimed at major companies with access to large amounts of information. It would apply to companies that make over $50 million per year, hold information on at least 1 million people or devices, or primarily act as data brokers that buy and sell consumer data.
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A new bill would force companies to check their algorithms for bias
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These companies would have to evaluate a broad range of algorithms — including anything that affects consumers’ legal rights, attempts to predict and analyze their behavior, involves large amounts of sensitive data, or “systematically monitors a large, publicly accessible physical place.” That would theoretically cover a huge swath of the tech economy, and if a report turns up major risks of discrimination, privacy problems, or other issues, the company is supposed to address them within a timely manner.
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