- Bayes’ theorem allows you to update the predicted probabilities of an event by incorporating new information.
- Bayes’ theorem was named after the 18th century mathematician Thomas Bayes.
- It is often used in finance to calculate or update a risk assessment.
— The theorem has become a useful element in the implementation of machine learning.
- The theorem has not been used for two centuries due to the large amount of computing power required to perform its transactions.