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

Generative Adversarial Networks are a type of Machine Learning model that consists of two neural networks: a generator and a discriminator. GANs are used…
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…
Uncertainty in AI refers to the unpredictability or lack of full knowledge about a situation or outcome. AI models often encounter uncertainties due to…
Object Detection is an AI technique that identifies and localises objects within an image or video. It involves analysing the visual data and assigning…