An Algorithmic Impact Assessment (AIA) is a structured evaluation of the potential effects of an automated decision-making system on individuals and groups. While not yet mandated by a standalone Indian statute, AIAs are emerging as a best practice for organisations using AI for credit scoring (RBI-regulated), insurance underwriting (IRDAI), and employment decisions. Under the DPDP Act, Data Principals have the right to information about processing, which includes understanding how algorithmic decisions affect them. The EU AI Act (2024) requires AIAs for high-risk AI systems, and Indian regulators are expected to follow with similar sectoral requirements.
Need Expert Advice on Algorithmic Impact Assessment?
For specific advice on how Algorithmic Impact Assessment applies to your debt recovery matter, consult Advocate Subodh Bajpai — LLM, MBA (XLRI Jamshedpur). 8+ years of exclusive banking and debt recovery practice across DRT, SARFAESI, IBC, and NI Act.
Defined by Advocate Subodh Bajpai, Senior Partner, Unified Chambers and Associates