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Facebook, Twitter, YouTube Face Senate Enquiry Over Algorithms: Bloomberg

Facebook, Twitter, YouTube Face Senate Enquiry Over Algorithms: Bloomberg
  • Facebook Inc (NASDAQ: FB), Twitter Inc (NYSE: TWTR), and Alphabet Inc’s (NASDAQ: GOOG) (NASDAQ: GOOGL) YouTube’s Tuesday Senate hearing focused on algorithms employed by the companies for user-generated information, Bloomberg reports.
  • “I plan to use this hearing as an opportunity to learn about how these companies’ algorithms work, what steps may have been taken to reduce algorithmic amplification that is harmful, and what can be done better,” Delaware Senator Chris Coons said.
  • Illinois Senator Dick Durbin sought more initiatives to remove inappropriate content and cited the Jan. 6 U.S. Capitol attack as an example.
  • Facebook VP Monika Bickert, YouTube America’s director of government affairs and public policy, Alexandra Veitch, and Twitter’s U.S. public policy head Lauren Culbertson represented their respective companies at the hearing.
  • Facebook emphasized algorithmic tool transparency. The company assured its efforts towards content improvement and relevance.
  • Twitter emphasized the role of algorithms and machine learning behind the review and removal of inappropriate content. Twitter also acknowledged its commitment to harmful content removal and more user choice.
  • Google disclosed the company’s automated process for detecting inappropriate videos and its contribution to the minimization of inappropriate content.
  • Facebook, Twitter, and YouTube suspended  Donald Trump for inappropriate comments. Facebook’s Oversight Board was reviewing the decision. YouTube was exploring possibilities over the suspension reversal. Twitter considered the ban as permanent.
  • Facebook has been promoting updated internet regulation, including new privacy rules, including election protection measures, and Section 230 overhaul.
  • Price action: FB shares traded higher by 0.57% at $304.77, TWTR shares traded lower by 0.55% at $66.35, and GOOG shares traded lower by 0.75% at $2,309.19 on the last check Tuesday.

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