What is Game Theory?

Skill Level:

Game Theory is a mathematical framework used to study and analyse strategic decision-making in situations involving multiple actors or players. It helps businesses understand and predict the behaviour of competitors, customers, and other stakeholders. Game Theory finds applications in areas like pricing strategies, auction design, and negotiation tactics.

Other Definitions

Digital assistants, also known as Virtual Assistants or Chatbots, are AI-powered software applications that can engage in conversations and perform tasks on behalf of…
Robotics involves designing, building, and programming machines that can perform tasks autonomously or interact with humans. By combining AI with physical systems, businesses can…
Big Data refers to large, complex datasets that cannot be easily managed or analysed with traditional data processing methods. AI techniques, such as Machine…
Natural Language Processing involves the interaction between computers and human language, enabling machines to understand, interpret, and generate human language. It powers applications like…