Meaning ● Algorithmic Governance in SMEs defines the structured framework guiding the design, deployment, and monitoring of algorithms within small and medium-sized businesses. This ensures these automated systems align with strategic business objectives, ethical standards, and regulatory requirements, crucial for SMB growth and operational efficiency. Furthermore, it enables SMBs to scale their automation efforts responsibly, mitigating potential risks and maximizing the benefits of AI-driven solutions. ● Effective algorithmic governance in SMBs fosters transparency and accountability, promoting trust among stakeholders and safeguarding against unintended biases in decision-making processes. ● Establishing clear governance policies and procedures becomes important as SMBs integrate algorithms into various functions, from marketing and customer service to supply chain management and financial analysis. This allows businesses to implement automated tools in a standardized controlled process.
