ALIG 762 is in a bad state - the weapon is just not capable to fullfill its role. Compared to the SHAW 556 it performs worse on every front - slow firerate, high weight, bad accuracy at all ranges(exept medium), and high recoil. It's only upside is hard damage, however even that feels useless, considering any rocketlauncher or a grenade would do a better job, as explosive damage passes through Steel Plating Mod. It would be a plus if you could shoot this weapon out of a car, therefore giving it an upper edge over other hard damage weapons, but its not, therefore its almost completly useless.
The way to buff it would probably be increasing it's maximum accuracy, making it viable at longer ranges and maybe buffing it's soft damage to make it a 4 shot kill. Its a heavy machinegun for christ's sake, why it takes the same amount of shots to kill as PMG's tiny bullets?