Do you always go to the same café? Or do you try something new?
That’s the exploration vs. exploitation dilemma: Decision under uncertainty.
Multi-armed bandits model exactly that.
And this dilemma shows up everywhere: Recommender systems, A/B tests, online ads, even in human psychology.
Nobel Prize winner Daniel Kahneman called this one of the most fundamental cognitive patterns.
I explain what it is, why it matters, and how AI systems handle it.
Full article here: https://towardsdatascience.com/simple-guide-to-multi-armed-bandits-a-key-concept-before-reinforcement-learning/