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

Deep Learning, a subfield of AI, leverages neural networks with numerous interconnected layers to process vast amounts of data, enabling machines to learn and…
istributed Computing refers to the use of multiple computers or servers to perform computational tasks in a networked environment. It enables businesses to process…
The Viterbi Algorithm is a dynamic programming algorithm used in sequence analysis, such as speech recognition and Natural Language Processing. It finds the most…
ChatOps combines chat platforms and AI technologies to facilitate collaboration and automate tasks within teams. By integrating AI-powered chatbots and communication tools, businesses can…