This bill requires the Small Business Administration (SBA) to annually report on the SBA's use of artificial intelligence and machine learning.
The report must include information about (1) the benefits and risks posed by the SBA's use of artificial intelligence and machine learning; and (2) measures that the SBA can take to identify, evaluate, and manage such benefits and risks, including explanations of how the SBA can retain human involvement in decisions informed by the use of artificial intelligence or machine learning.
Additionally, not later than 30 days after submitting each report, the SBA must brief the House Committee on Small Business and the Senate Committee on Small Business and Entrepreneurship about the report.