In today's world, algorithms are everywhere—curating our Spotify playlists, suggesting YouTube videos, and even helping us make financial decisions. But despite their prevalence and power, many of us ...

The original version of this story appeared in Quanta Magazine. Imagine a town with two widget merchants. Customers prefer cheaper widgets, so the merchants must compete to set the lowest price.

Whether we’re using Spotify, Amazon, Netflix or Instagram, we encounter algorithms that recommend content or products to us every day. In 2017 Netflix stated that its users discover around 80 percent ...

AI algorithms can analyze transactions in real time, detect anomalies and patterns that may indicate fraudulent activities, and alert banks to take appropriate actions. An example of fraud detection ...