Okay.
In terms of risk, at least from a theoretical standpoint, it would certainly be an issue to the degree that the algorithm is operated by the Chinese company ByteDance. In order for the algorithm to work, data necessarily would have to be shared with ByteDance. To the degree that the algorithm is being handled by ByteDance in that regard, then yes, pursuant to the 2017 National Intelligence Law, they could be compelled to share data with the Beijing-based regime.
The problem is that I don't see any evidence that this, in fact, has actually happened. It seems to be entirely theoretical.