Algorithmic Accountability Act of 2023

The Algorithmic Accountability Act of 2023 requires companies with over $50 million in annual revenue or that handle data for more than 1 million consumers to assess how their automated decision systems might negatively impact people before and after deployment. These companies must document potential biases related to protected characteristics like race, gender, and age, and submit annual summary reports to the Federal Trade Commission. The FTC will create a public repository with anonymized information about these systems to help consumers understand how automated decisions affect critical areas like housing, employment, and healthcare. The law aims to increase transparency around automated decision-making while requiring companies to implement measures for consumers to contest or appeal decisions.