The Future AI in the hands of ❗ARTIFICIAL NEURAL NETWORK❗

Artificial neural networks, usually simply called neural networks, are computing systems vaguely inspired by the biological neural networks that constitute animal brains. An ANN is based on a collection of connected units or nodes called artificial neurons, which loosely model the neurons in a biological brain.

Nueral Network Archirecture

In the picture given above, the outermost yellow layer is the input layer. A neuron is the basic unit of a neural network. They receive input from an external source or other nodes. Each node is connected with another node from the next layer, and each such connection has a particular weight. Weights are assigned to a neuron based on its relative importance against other inputs.

The layer or layers hidden between the input and output layer is known as the hidden layer. It is called the hidden layer since it is always hidden from the external world. The main computation of a Neural Network takes place in the hidden layers. So, the hidden layer takes all the inputs from the input layer and performs the necessary calculation to generate a result. This result is then forwarded to the output layer so that the user can view the result of the computation.

As we have seen Artificial Neural Networks are made up of a number of different layers.

Each layer houses artificial neurons called units. These artificial neurons allow the layers to process, categorize, and sort information. Alongside the layers are processing nodes.

Each node has its own specific piece of knowledge.

Almost all artificial neural networks are fully connected throughout these layers.

Each connection is weighted.

The heavier the weight, or the higher the number, the greater the influence that the unit has on another unit.

The first layer is the input layer. This information then progresses through the hidden layers where it is analysed and processed.

By processing data in this way, the network learns more and more about the information.

Eventually, the data reaches the end of the network, the output layer.

Here the network works out how to respond to the input data.

This response is based on the information it has learned throughout the process.

Here the processing nodes allow the information to be presented in a useful way.

Industries Usecases

🔶 Improving Marketing Strategies

By adopting Artificial Neural Networks businesses are able to optimise their marketing Strategy.

Systems powered by Artificial Neural Networks all capable of processing masses of information.

This includes customers personal details, shopping patterns as well as any other information relevant to your business.

Once processed this information can be sorted and presented in a useful and accessible way. This is generally known as market segmentation.

This focusing of marketing campaigns means that time and expense isn’t wasted advertising to customers who are unlikely to engage.

This application of Artificial Neural Networks can save businesses both time and money. It can also help to increase profits.

Neural Networks in the Retail Sector

Many retail organisations, such as Walmart, use Artificial Neural Networks to predict future product demand.

The network models analyse location, historical data sets, as well as weather forecasts, models and other pieces of relevant information.

This is used to predict an increase in sales of umbrellas or snow clearing products. By predicting a potential rise in demand the company is able to increase stock in store. This means that customers won’t leave empty-handed and also allows Walmart to offer product-related offers and incentives.

Conclusion

Artificial Neural Networks are Revolutionizing Business Practices. Artificial Neural Networks may be a complex concept to fully understand.

However, by using them in conjunction with deep learning tools allows computer-driven technology to make gigantic leaps forward.

From streamlining manufacturing to product suggestions and facial scanning, Artificial Neural Networks are transforming the way businesses operate.

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