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

Computer vision is a field of AI that focuses on training machines to understand and interpret images and videos. By analysing visual data, machines…
Unsupervised Learning is a Machine Learning technique where models learn patterns and structures within data without labelled examples. By uncovering hidden relationships and clustering…
Deep Learning, a subfield of AI, leverages neural networks with numerous interconnected layers to process vast amounts of data, enabling machines to learn and…
OpenAI is a research organisation dedicated to advancing AI in a safe and beneficial way. They develop cutting-edge AI technology while prioritising ethical considerations…