What are some examples of Markov chains in real life?
An example of an AI chatbot conversation about Markov chain applications in various fields.
What are some examples of Markov chains in real life?
Markov chains are used in various fields! For instance, they're applied in weather forecasting, stock market analysis, and even in Google's PageRank algorithm.
Can you explain how they work in weather forecasting?
Sure! In weather forecasting, Markov chains model the probability of transitioning from one weather state to another, helping predict future conditions based on current data.
What about their use in natural language processing?
In NLP, Markov chains can generate text by predicting the next word based on the previous words, which is useful in chatbots and text generation.
Are there any limitations to using Markov chains?
Yes, they assume that future states depend only on the current state, which can oversimplify complex systems and lead to inaccuracies.
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