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

Artificial General Intelligence refers to AI systems capable of understanding, learning, and performing any intellectual task as humans do. Although AGI remains aspirational, it…
ChatGPT is an AI model developed by OpenAI that excels in generating human-like text-based responses. Powered by advanced language models and deep learning techniques,…
Transfer Learning is a technique that allows AI models to apply knowledge gained from one task to another related task. By leveraging pre-trained models…
The Internet of Things refers to a network of interconnected devices, sensors, and objects that can collect and exchange data. IoT Devices enable the…