According to Addressing the Growing Need for Algorithmic Transparency by Watson and Nations, which of the following statements is WRONG?

Question $1$ options:

There are many factors influencing algorithmic transparency, such as organizational actions, public awareness and reactions, technology, profit$/$cost considerations, ethical issues, and legal and regulatory issues, etc.

One of the algorithmic transparency principle, Awareness, refers to communicating the algorithm's logic in human terms.

Algorithmic transparency refers to organizations being more public and open about how they use algorithms.

Most industries in the US have regulations regarding how organizations collect, store, and release data such as HIPPA, FCA and FERPA. Yet, one expert mentioned that, when it comes to online marketing, social media and the IoT, there is limited federal or state legislation that affects the use of algorithms at this time.