Artificial Neural Network Technology Continues to Unveil its Multidimensional Potential

Thu, 10 October 2019 12:41

An artificial neural network is a form of artificial intelligence with a series of algorithms that recognizes the relationship between the data sets. It imitates the human brain learning process to solve the complex pattern recognition problems, in particular to analyze large data sets. Some popular types of neural networks are autoencoders, convolutional neural networks, and recurrent neural networks. Neural networks are widely used for real-world business problems involving data validation, customer research, forecasting, and risk management. It is applied across various industries such as marketing, retail & sales, banking & finance, and medicine, among others.

Analytical Software to Demystify the Intricacies Involved in a Surveillance Video

The analytical software segment is projected to hold significant market share among other type segments in the global neural network software market on account of government organizations increasingly using surveillance systems for investigations. The recordings in the surveillance systems often have lower resolution, compelling law enforcement agencies to embrace advanced technological solutions to analyze video patterns. For instance, in January 2019, BrainChip Holdings announced a strategic partnership with SoftCryptum to sell BrainChip’s AI-powered video analytics solutions to government agencies in France, Belgium, and Switzerland.

Katana Lens — An AI-Powered Tool, to Bring Forth Decisiveness in Trading 

The prevalence of artificial intelligence into the trading systems is propelling the demand for neural network software market in the BFSI industry. Automated trading systems allow computers to monitor and execute trades. For instance, in October 2018, ING launched Katana Lens, an AI tool, that assist investors in finding and comparing trade ideas. The Katana Lens is a web-based application that provides predictive analytics to bond investors for facilitating faster and sharper decisions. Such instances are attributed to influence the finance segment growth in the global neural network software market.

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Europe to Witness Artificial Neural Network Help Detect Heart Failure Risks

Data continues to diversify and change compelling organizations to embrace predictive analytics. The incorporation of Artificial Neural Network Technology (ANN) in the healthcare sector is proven to be beneficial. For instance, in September 2019, researchers of Organizational Neuroscience at the University of Surrey, developed a neural network approach which can accurately identify congestive heart failure with 100% accuracy through analysis of just one raw electrocardiogram (ECG) heartbeat by using Convolutional Neural Networks (CNN).

Recent Development

  • In September 2019, Infineon announced a partnership with Synopsys to develop AI chips for automotive applications
  • In August 2019, H2O.ai raised USD 72.5 million in Series D funding, led by Goldman Sachs and Ping An with participation from Wells Fargo, NVIDIA, and Nexus Venture Partners. The company plans to utilize this fund to accelerate innovation & expand sales and marketing across the globe
  • In March 2019, Tableau announced a partnership with VoiceBase to transform the use of speech analytics data, enabling the users to uncover data insights and extend the benefits of speech analytics beyond the contact center
  • In May 2018, Hewlett Packard Enterprise (HPE) joined the Open Neural Network Exchange (ONNX) — a group that promotes the adoption and creation of open standard to represent deep learning models. The company aimed to contribute its expertise in machine learning software and hardware to an industry-standard neural network exchange format
  • In September 2018, Microsoft announced a partnership with SRL Diagnostics to expand its AI network for healthcare to pathology. This collaboration would enhance the quality of digital pathology for population screening by the integration of Microsoft’s Azure and AI alongside SRL’s expertise in the study of cells and tissues
  • In November 2016, Hikvision announced a partnership with Movidius to introduce neural networks to video surveillance cameras

Key Players

Some of the notable players in the global Neural network software market are Google Inc., IBM Corporation, Microsoft Corporation, Intel Corporation, Oracle, SAP SE, Qualcomm Technologies Inc., Neural Technologies Ltd., Ward Systems Group Inc., Neuralware, and Slagkryssaren AB.

Neural Network Software Market Segmentation

By Component

  • Software
  • Service

By Type

  • Data Mining and Archiving
  • Optimization Software
  • Analytical Software
  • Visualization Software

By Industry

  • IT & Telecommunication
  • BFSI
  • Retail
  • Healthcare
  • Others

Regions Covered

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia-Pacific

LAMEA

  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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