Genetic algorithms are inspired by Darwin's theory of natural selection and use techniques like inheritance, mutation, and selection to find optimal solutions. The document discusses genetic algorithms and their application in data mining. It provides examples of how genetic algorithms use selection, crossover, and mutation operators to evolve rules for predicting voter behavior from historical election data. The advantages are that genetic algorithms can solve complex problems where traditional search methods fail, and provide multiple solutions. Limitations include not guaranteeing a global optimum and variable optimization times. Applications include optimization, machine learning, and economic modeling.