Neural networks have broad applicability to real world business problems. In fact, they
have already been successfully applied in many industries. Since neural networks are best
at identifying patterns or trends in data, they are well suited for forecasting needs.
From the wide range of applications of neural networks,we deal with few of them as
follows:
1.Character Recognition:
The idea of character recognition has become very important as handheld devices like the
Palm Pilot are becoming increasingly popular. Neural networks can be used to recognize
handwritten characters.
2.Image Compression:-
Neural networks can receive and process vast amounts of information at once, making
them useful in image compression. With the Internet explosion and more sites using more
images on their sites, using neural networks for image compression is worth a look.
3.Stock Market:-
The day-to-day business of the stock market is extremely complicated. Many factors
weigh in whether a given stock will go up or down on any given day. Since neural
networks can examine a lot of information quickly and sort it all out, they can be used to
predict stock prices.
4.Food Processing:-
The food industry is perhaps the biggest practical market for electronic noses, assisting
or replacing entirely humans. Inspection of food, grading quality of food, fish inspection,
fermentation control, checking mayonnaise for rancidity, automated flavor control,monitoring cheese ripening, verifying if orange juice is natural, beverage container
inspection, and grading whisky.
5. Medicine:
One of the areas that has gained attention is in cardiopulmonary diagnostics. The ways
neural networks work in this area or other areas of medical diagnosis is by the
comparison of many different models. They assist doctors with their diagnosis by
analyzing the reported symptoms and image data such as MRIs or X-rays.
6.Target Recognition:-
Neural networks also play an important part in the warfield , particularly in fighter jets
and tanks.The tanks and planes are fitted with high resolution digital cameras hooked
upto a computer which would continually scan the environment outside for possible
threats.
7.Machine Diagnostics:-
Detect when a machine has failed so that the system can automatically shut down the
machine when this occurs.
8.Signature Analysis:-
Neural nets can be used as a mechanism for comparing signatures made (e.g. in a bank)
with those stored. This is one of the first large-scale applications of neural networks in
the USA, and is also one of the first to use a neural network chip.
9.Monitoring:-
Networks have been used to monitor
- the state of aircraft engines. By monitoring vibration levels and sound, early warning of engine problems can be given.
- British Rail have also been testing a similar application monitoring diesel engines.
