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

Robotics involves designing, building, and programming machines that can perform tasks autonomously or interact with humans. By combining AI with physical systems, businesses can…
Fuzzy Logic is a mathematical framework that deals with uncertainty and imprecision. By assigning degrees of truth to statements, Fuzzy Logic allows businesses to…
Humanoid Robots are advanced machines designed to resemble and interact with humans in a human-like manner. These robots are equipped with AI capabilities that…
Explainable Artificial Intelligence focuses on developing AI systems that can provide understandable explanations for their decisions and behaviours. Transparent and interpretable AI models are…