Part 9/16:
This pioneering approach—named after the famed casino in Monaco—revolutionized how scientists tackled intractable problems across physics, engineering, and finance. Today, the Monte Carlo method underpins everything from financial risk assessment to climate modeling.
The Rise of Search Engines: Markov Chains Power the Web
Fast forward to the late 1990s: the explosive growth of the internet created a relentless challenge—how to find relevant information efficiently. Stanford students Sergey Brin and Larry Page innovated by applying Markov chain principles to the problem of ranking web pages.