Markov Property

The Markov Property is a concept from probability theory that describes a specific kind of memory in processes. It states that the future state of a system depends only on its current state and not on how it arrived there. In simpler terms, if you know the present situation, you can predict the future without needing to consider the past. This property is commonly used in various fields, such as economics, genetics, and artificial intelligence, to model situations where past events do not influence future outcomes beyond the present moment.