Abstract
Fuzzy Cognitive Maps (FCMs) are a type of recurrent neural network with built-in meaning in their architecture, originally devoted to modeling and scenario simulation tasks. These knowledge-based neural systems support feedback loops that handle static and temporal data. Over the last decade, there has been a noticeable increase in the number of contributions dedicated to developing FCM-based models and algorithms for structured pattern classification and time series forecasting. These models are attractive since they have proven competitive compared to black boxes while providing highly desirable interpretability features. Equally important are the theoretical studies that have significantly advanced our understanding of the convergence behavior and approximation capabilities of FCM-based models. These studies can challenge individuals who are not experts in Mathematics or Computer Science. As a result, we can occasionally find flawed FCM studies that fail to benefit from the theoretical progress experienced by the field. To address all these challenges, this survey paper aims to cover relevant theoretical and algorithmic advances in the field, while providing clear interpretations and practical pointers for both practitioners and researchers. Additionally, we will survey existing tools and software implementations, highlighting their strengths and limitations towards developing FCM-based solutions.