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 Reinforcement Learning is a subset of Machine Learning that combines Deep Learning and Reinforcement Learning. It involves training AI models to make decisions…
Quantum Computing and AI are two fields that can complement and enhance each other. Quantum Computing can perform calculations faster and more efficiently than…
A Virtual Assistant (or Virtual Agent) is an AI-powered software or application that performs various tasks and assists users with their daily activities. It…
Data Preprocessing involves preparing and cleaning raw data before analysis. By removing noise, selecting relevant features, and addressing missing values, businesses can ensure data…