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Algorithmic impact assessment is a systematic evaluation process that identifies and analyzes the potential impacts, benefits, and risks associated with algorithmic systems and decision-making processes.
Organizations that develop or implement algorithms that significantly affect public or individual outcomes are typically required to file an algorithmic impact assessment.
To fill out an algorithmic impact assessment, organizations should gather relevant data about the algorithm, evaluate its potential impacts, document their findings, and ensure compliance with applicable regulations and guidelines.
The purpose of algorithmic impact assessment is to ensure that algorithms are deployed responsibly, ethically, and in a way that mitigates adverse effects while maximizing their positive contributions.
Information that must be reported includes the algorithm's purpose, the data it uses, potential biases, risk assessments, mitigation strategies, and any stakeholder consultations.
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