Meaning ● Algorithm Fairness, for SMBs undergoing growth via automation, concerns mitigating bias within algorithms influencing key business decisions. It specifically addresses biases affecting access to capital, talent acquisition, targeted marketing, and risk assessment, ensuring these processes support equitable business expansion. ● Algorithm fairness is crucial as SMBs implement AI tools to streamline operations; unintentional biases in these tools can lead to discriminatory outcomes, damaging brand reputation and hindering access to diverse customer bases.
