Applications of RL
RL has evolved rapidly over the past couple of years with a wide range of applications ranging from playing games to self-driving cars. One of the major reasons for this evolution is due to Deep Reinforcement Learning (DRL), which is a combination of RL and deep learning. We will learn about the various state-of-the-art deep RL algorithms in the upcoming chapters, so be excited! In this section, we will look at some real-life applications of RL:
- Manufacturing: In manufacturing, intelligent robots are trained using RL to place objects in the right position. The use of intelligent robots reduces labor costs and increases productivity.
- Dynamic pricing: One of the popular applications of RL is dynamic pricing. Dynamic pricing implies that we change the price of products based on demand and supply. We can train the RL agent for the dynamic pricing of products with the goal of maximizing revenue.
- Inventory management: RL is used extensively in inventory...