What are the applications of Bayesian networks?
Bayesian networks are used in various fields such as medicine for diagnosis, finance for risk assessment, and AI for decision-making.
Can you give an example of how they are used in medicine?
Sure! In medicine, Bayesian networks can help in diagnosing diseases by modeling the relationships between symptoms and potential conditions.
What about their use in finance?
In finance, they are used for credit scoring and risk management by assessing the likelihood of default based on various factors.
Are there any limitations to using Bayesian networks?
Yes, they can be complex to construct and require a lot of data to be effective, which can be a limitation in some cases.
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