Capable of being made formal, official, or according to strict rules; able to be formalized.
From 'formalize' + suffix '-able' (capable of being). A 20th-century creation in administrative and academic language.
In logic and computer science, something 'formalizable' can be translated into a strict mathematical system—this is why the concept is crucial to artificial intelligence. If a rule can't be formalized, a computer can't follow it!
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