Neural networks and practical applications: areas of application

Practical Applications

Various applications

The areas of application of neural networks are diverse due to the high flexibility given even in simple models and primarily concern applications with large, unstructured data. This includes, for example, classifications (e.g. text recognition, image recognition), industrial and technical optimization applications (sorting, control, monitoring & control), monitoring and forecasting of financial market developments (time series data), translation services (speech recognition, text generation), marketing applications (predicting sales patterns, pattern recognition, etc.), public transport and utilities (predicting and avoiding bottlenecks, etc.), as well as some keyboard apps for smartphones and many more.

Areas of application that are particularly interesting for companies

Klassifizierung

Since neural networks can be used to classify high-dimensional, unstructured data, their use in large companies is particularly obvious. Examples include the classification and pre-selection of applicants, marketing applications such as customer classifications, but also special applications such as chatbots in customer service, e-mail spam detection, zero-day protection in firewalls, or image and text recognition software. All in all, helpful patterns can be recognized and used, which leads to effects such as preventing hacks, increasing the efficiency of marketing and sales activities and saving human resources.

Forecast

In particular, LSTMs (Long-Short-Term Memory) are suitable for forecasting time-series data. As a result, customer behavior, such as purchases, can be predicted over time in sales. However, LSTMs are also suitable for non-classical time series data, namely for sequential data, such as texts, which can be analyzed and then generated by learning linguistic patterns. The prediction of bottlenecks or events in public transport and in the supply of the population play a role here, as well as the monitoring of complex manufacturing and logistical chains in industry.

searchIT – an in-house search engine uses neural networks

Iphos IT Solutions uses neural networks in several products. This includes, for example, the fully automatic recognition of text in scans and imagesto make them classifiable and searchable for the company's internal search engine searchIT using search terms entered by the user. In addition, searchIT diverse functions, the the Search many data sources in the company pleasant and efficient, such as the synonym recognition, the Recognition of tonality in texts, or the automatic classification of text documents by subject.