Moral Machines
Artificial Intelligence
A computational technique that uses repeated random sampling to obtain numerical results and predict the probability of different outcomes.
Detailed Explanation
Monte Carlo Simulations are powerful computational methods that utilize random sampling to model and analyze complex systems and processes. By running numerous simulations with varied inputs, they estimate the probability distribution of possible outcomes. Widely used in risk assessment, optimization, and decision-making, these simulations help predict uncertainties and inform strategies based on probabilistic insights.
Use Cases
- •Financial risk modeling to estimate potential losses and assess investment portfolio robustness.
Related Terms
Other terms in the Artificial Intelligence category