AI-ML for Decision and Risk Analysis

Download or read book AI-ML for Decision and Risk Analysis written by Louis Anthony Cox Jr. and published by Springer Nature. This book was released on 2023-07-05 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains and illustrates recent developments and advances in decision-making and risk analysis. It demonstrates how artificial intelligence (AI) and machine learning (ML) have not only benefitted from classical decision analysis concepts such as expected utility maximization but have also contributed to making normative decision theory more useful by forcing it to confront realistic complexities. These include skill acquisition, uncertain and time-consuming implementation of intended actions, open-world uncertainties about what might happen next and what consequences actions can have, and learning to cope effectively with uncertain and changing environments. The result is a more robust and implementable technology for AI/ML-assisted decision-making. The book is intended to inform a wide audience in related applied areas and to provide a fun and stimulating resource for students, researchers, and academics in data science and AI-ML, decision analysis, and other closely linked academic fields. It will also appeal to managers, analysts, decision-makers, and policymakers in financial, health and safety, environmental, business, engineering, and security risk management.