What are some real-world applications of memoization?

What are some real-world applications of memoization?

Memoization is used in various fields, such as computer science, finance, and game development. For instance, in dynamic programming, it helps optimize recursive algorithms by storing previously computed results.

Can you give me an example in finance?

Sure! In finance, memoization can be used in algorithms for option pricing, where it stores results of complex calculations to avoid redundant computations, speeding up the process.

What about in game development?

In game development, memoization can optimize pathfinding algorithms, like A*, by caching previously calculated paths, which enhances performance during gameplay.

Are there any downsides to using memoization?

Yes, while memoization can improve performance, it also consumes more memory due to storing results. If not managed properly, it can lead to increased memory usage.