Develops insights into solving complex problems in engineering, biomedical sciences, social science and economics based on artificial intelligence. Some of the problems studied are in interstate conflict, credit scoring, breast cancer diagnosis, condition monitoring, wine testing, image processing and optical character recognition. The author discusses and applies the concept of…
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Author : Tshilidzi Marwala
Genre : Computers
Summary : Develops insights into solving complex problems in engineering, biomedical sciences, social science and economics based on artificial intelligence. Some of the problems studied are in interstate conflict, credit scoring, breast cancer diagnosis, condition monitoring, wine testing, image processing and optical character recognition. The author discusses and applies the concept of flexibly-bounded rationality which prescribes that the bounds in Nobel Laureate Herbert Simon’s bounded rationality theory are flexible due to advanced signal processing techniques, Moore’s Law and artificial intelligence. Artificial Intelligence Techniques for Rational Decision Making examines and defines the concepts of causal and correlation machines and applies the transmission theory of causality as a defining factor that distinguishes causality from correlation. It develops the theory of rational counterfactuals which are defined as counterfactuals that are intended to maximize the attainment of a particular goal within the context of a bounded rational decision making process. Furthermore, it studies four methods for dealing with irrelevant information in decision making: Theory of the marginalization of irrelevant information Principal component analysis Independent component analysis Automatic relevance determination method In addition it studies the concept of group decision making and various ways of effecting group decision making within the context of artificial intelligence. Rich in methods of artificial intelligence including rough sets, neural networks, support vector machines, genetic algorithms, particle swarm optimization, simulated annealing, incremental learning and fuzzy networks, this book will be welcomed by researchers and students working in these areas.
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Author : Daniel Muller
Genre : Computers
Summary : The world we live in presents plenty of tricky, impactful, and hard-tomake decisions to be taken. Sometimes the available options are ample, at other times they are apparently binary, either way, they often confront us with dilemmas, paradoxes, and even denial of values.In the dawn of the age of intelligence, when robots are gradually taking over most decision-making from humans, this book sheds a bit of light on decision rationale. It delves into the limits of these decision processes (for both humans and machines), and it does so by providing a new perspective that is somehow opposed to orthodox economics. All Economics reflections in this book are underlined and linked to Artificial Intelligence.The authors hope that this comprehensive and modern analysis, firmly grounded in the opinions of various groundbreaking Nobel laureate economists, may be helpful to a broad audience interested in how decisions may lead us all to flourishing societies. That is, societies in which economic blunders (caused by over simplification of problems and super estimation of tools) are reduced substantially.
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Author : Tshilidzi Marwala
Genre : Science
Summary : Intelligent machines are populating our social, economic and political spaces. These intelligent machines are powered by Artificial Intelligence technologies such as deep learning. They are used in decision making. One element of decision making is the issue of rationality. Regulations such as the General Data Protection Regulation (GDPR) require that decisions that are made by these intelligent machines are explainable. Rational Machines and Artificial Intelligence proposes that explainable decisions are good but the explanation must be rational to prevent these decisions from being challenged. Noted author Tshilidzi Marwala studies the concept of machine rationality and compares this to the rationality bounds prescribed by Nobel Laureate Herbert Simon and rationality bounds derived from the work of Nobel Laureates Richard Thaler and Daniel Kahneman. Rational Machines and Artificial Intelligence describes why machine rationality is flexibly bounded due to advances in technology. This effectively means that optimally designed machines are more rational than human beings. Readers will also learn whether machine rationality can be quantified and identify how this can be achieved. Furthermore, the author discusses whether machine rationality is subjective. Finally, the author examines whether a population of intelligent machines collectively make more rational decisions than individual machines. Examples in biomedical engineering, social sciences and the financial sectors are used to illustrate these concepts. Provides an introduction to the key questions and challenges surrounding Rational Machines, including, When do we rely on decisions made by intelligent machines? What do decisions made by intelligent machines mean? Are these decisions rational or fair? Can we quantify these decisions? and Is rationality subjective? Introduces for the first time the concept of rational opportunity costs and the concept of flexibly bounded rationality as a rationality of intelligent machines and the implications of these issues on the reliability of machine decisions Includes coverage of Rational Counterfactuals, group versus individual rationality, and rational markets Discusses the application of Moore’s Law and advancements in Artificial Intelligence, as well as developments in the area of data acquisition and analysis technologies and how they affect the boundaries of intelligent machine rationality
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Author : Tshilidzi Marwala
Genre : Artificial intelligence
Summary : Causality has been a subject of study for a long time. Often causality is confused with correlation. Human intuition has evolved such that it has learned to identify causality through correlation. In this book, four main themes are considered and these are causality, correlation, artificial intelligence and decision making. A correlation machine is defined and built using multi-layer perceptron network, principal component analysis, Gaussian Mixture models, genetic algorithms, expectation maximization technique, simulated annealing and particle swarm optimization. Furthermore, a causal machine is defined and built using multi-layer perceptron, radial basis function, Bayesian statistics and Hybrid Monte Carlo methods. Both these machines are used to build a Granger non-linear causality model. In addition, the Neyman-Rubin, Pearl and Granger causal models are studied and are unified. The automatic relevance determination is also applied to extend Granger causality framework to the non-linear domain. The concept of rational decision making is studied, and the theory of flexibly-bounded rationality is used to extend the theory of bounded rationality within the principle of the indivisibility of rationality. The theory of the marginalization of irrationality for decision making is also introduced to deal with satisficing within irrational conditions. The methods proposed are applied in biomedical engineering, condition monitoring and for modelling interstate conflict.
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Author : Edgardo Bucciarelli
Genre : Technology & Engineering
Summary : The special session on Decision Economics (DECON) is a scientific forum held annually, which is focused on sharing ideas, projects, research results, models, and experiences associated with the complexity of behavioural decision processes and socio‐economic phenomena. In 2018, DECON was held at Campus Tecnológico de la Fábrica de Armas, University of Castilla-La Mancha, Toledo, Spain, as part of the 15th International Conference on Distributed Computing and Artificial Intelligence. For the third consecutive year, this book have drawn inspiration from Herbert A. Simon’s interdisciplinary legacy and, in particular, is devoted to designs, models, and techniques for boundedly rational decisions, involving several fields of study and expertise. It is worth noting that the recognition of relevant decision‐making takes place in a range of critical subject areas and research fields, including economics, finance, information systems, small and international business management, operations, and production. Therefore, decision‐making issues are of fundamental importance in all branches of economics addressed with different methodological approaches. As a matter of fact, the study of decision‐making has become the focus of intense research efforts, both theoretical and applied, forming a veritable bridge between theory and practice as well as science and business organisations, whose pillars are based on insightful cutting‐edge experimental, behavioural, and computational approaches on the one hand, and celebrating the value of science as well as the close relationship between economics and complexity on the other. In this respect, the international scientific community acknowledges Herbert A. Simon’s research endeavours to understand the processes involved in economic decision‐making and their implications for the advancement of economic professions. Within the field of decision‐making, indeed, Simon has become a mainstay of bounded rationality and satisficing. His rejection of the standard (unrealistic) decision‐making models adopted by neoclassical economists inspired social scientists worldwide with the purpose to develop research programmes aimed at studying decision‐making empirically, experimentally, and computationally. The main achievements concern decision‐making for individuals, firms, markets, governments, institutions, and, last but not least, science and research. This book of selected papers tackles these issues that Simon broached in a professional career spanning more than sixty years. The Editors of this book dedicated it to Herb.
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Author : Fouad Sabry
Genre : Computers
Summary : What Is Rational Agent A person or thing is said to be rational, or reasonable, if it always strives to execute the best possible actions based on the premises and knowledge that it is provided with. A rational agent is any entity that can make decisions, most commonly a human but also a company, machine, or piece of software. How You Will Benefit (I) Insights, and validations about the following topics: Chapter 1: Rational agent Chapter 2: Artificial intelligence Chapter 3: Game theory Chapter 4: Rational choice theory Chapter 5: Bounded rationality Chapter 6: Satisficing Chapter 7: Software agent Chapter 8: Intelligent agent Chapter 9: Outline of artificial intelligence Chapter 10: Herbert A. Simon (II) Answering the public top questions about rational agent. (III) Real world examples for the usage of rational agent in many fields. (IV) 17 appendices to explain, briefly, 266 emerging technologies in each industry to have 360-degree full understanding of rational agent' technologies. Who This Book Is For Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of rational agent.
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Author : Tshilidzi Marwala
Genre : Computers
Summary : This book theoretically and practically updates major economic ideas such as demand and supply, rational choice and expectations, bounded rationality, behavioral economics, information asymmetry, pricing, efficient market hypothesis, game theory, mechanism design, portfolio theory, causality and financial engineering in the age of significant advances in man-machine systems. The advent of artificial intelligence has changed many disciplines such as engineering, social science and economics. Artificial intelligence is a computational technique which is inspired by natural intelligence concepts such as the swarming of birds, the working of the brain and the pathfinding of the ants. Artificial Intelligence and Economic Theory: Skynet in the Market analyses the impact of artificial intelligence on economic theories, a subject that has not been studied. It also introduces new economic theories and these are rational counterfactuals and rational opportunity costs. These ideas are applied to diverse areas such as modelling of the stock market, credit scoring, HIV and interstate conflict. Artificial intelligence ideas used in this book include neural networks, particle swarm optimization, simulated annealing, fuzzy logic and genetic algorithms. It, furthermore, explores ideas in causality including Granger as well as the Pearl causality models.
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Author : Tshilidzi Marwala
Genre : Political Science
Summary : This book explores how AI and mechanism design can provide a new framework for international politics. The international political system is all manners in which countries, governments and people relate. Mechanism design in international politics relates to identifying rules that define relationships between people and countries that achieve a particular outcome, e.g., peace or more trade or democracy or economic development. Artificial intelligence is technique of making machines intelligent. This book explores mechanism design and artificial intelligence in international politics and applies these technologies to politics, economy and society. This book will be of interest to scholars of international relations, politics, sustainable development, and artificial intelligence.
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Author : Vincent C. Müller
Genre : Computers
Summary : This book reports on the results of the third edition of the premier conference in the field of philosophy of artificial intelligence, PT-AI 2017, held on November 4 - 5, 2017 at the University of Leeds, UK. It covers: advanced knowledge on key AI concepts, including complexity, computation, creativity, embodiment, representation and superintelligence; cutting-edge ethical issues, such as the AI impact on human dignity and society, responsibilities and rights of machines, as well as AI threats to humanity and AI safety; and cutting-edge developments in techniques to achieve AI, including machine learning, neural networks, dynamical systems. The book also discusses important applications of AI, including big data analytics, expert systems, cognitive architectures, and robotics. It offers a timely, yet very comprehensive snapshot of what is going on in the field of AI, especially at the interfaces between philosophy, cognitive science, ethics and computing.
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Author : Tshilidzi Marwala
Genre : Computers
Summary : Building on , this volume on Optimization and Decision Making covers a range of algorithms and their applications. Like the first volume, it provides a starting point for machine learning enthusiasts as a comprehensive guide on classical optimization methods. It also provides an in-depth overview on how artificial intelligence can be used to define, disprove or validate economic modeling and decision making concepts.