Solve Markov Decision Processes with the Value Iteration Algorithm - Computerphile

The value iteration algorithm is a method for solving Markov decision processes (MDPs) to produce optimal action decisions. MDPs model decision-making problems, particularly those under uncertainty. The algorithm iteratively computes the values of states to find the policy that minimizes cost or maximizes reward. It is essential for decision-making models where dynamic programming techniques are applied to achieve the best outcome.