Precision is a metric that measures the accuracy of results produced by an AI system, indicating the percentage of relevant results out of the total results returned. It is commonly used in applications such as search, categorization, and entity recognition.
For example, in a system tasked with identifying dog breeds in a document, if the system analyzes a text mentioning 10 dog breeds but returns only 5 correct ones, the precision is 100% (since all 5 returned breeds are correct). Precision focuses solely on the accuracy of the results that are identified, regardless of how many are missed.