Advantages of Neural Networks – Benefits of AI and Deep Learning

Along with various advantages of neural networks, the most common ones are that they help us classify and cluster. Read complete benefits in AI world.
advantages of neural networks

Neural networks can be known as a set of algorithms, loosely modeled after the brain of humans that are designed in a way to recognize patterns. They are capable of interpreting data using a type of machine perception, clustering or labeling raw input. The patterns recognized by them are contained in vectors, numerical, into which all the data of the real-world, be it text, sound, time series, or images, are supposed to be translated.

Folio3 has been a reliable service provider of machine learning company for enterprises in order to help them enhance their understanding of customer needs and perform better. Our team of experienced and determined consultants and data scientists have successfully delivered a large number of end-to-end projects that are related to natural language processing, machine learning, predictive analysis, and computer vision.

Along with various advantages of neural networks, the most common ones are that they help us classify and cluster. They can be considered as a classification of the clustering layer maintained above the data that you store and manage. They allow you to group the data that is unlabeled based on similarities between example inputs, and they are responsible for the classification of data when the dataset is labeled by them to train on. To be more precise, neural networks can be considered as components of larger applications of machine learning as a service that involve algorithms for classification, regression, and reinforcement learning.

What Are The Types of Neural Networks

There are different types of neural networks. They all use different principles and determine their own rules. There are various types of artificial neural networks and each one of them comes with a unique and special strength.

1) Feedforward Neural Network – Artificial Neuron

The simplest type of artificial neural network. In this type, data is passed through various input nodes until it finally reaches the output node.

To be better said, the movement of data is only in one direction. This is also called front propagated wave that is achieved usually by classification of the activation function. This neural network may only have one layer or many hidden layers.

In a feedforward neural network, the sum of products of all the inputs and their weights are calculated, which is later fed to the output.

2) Radial Basis Function Neural Network

This type of neural network considers the distance of any certain point relative to the center. These networks have two layers. In the inner layer, the features are paired up with the radial basis function. The output of the given features is considered when the same output gets calculated in the next time-step.

This type of neural network is usually applied in power restoration systems.

3) Multilayer Perceptron

This neural network has three or more than three layers. It is basically used for the classification of the data that cannot be linearly separated. This type of artificial neural network is fully connected and that is because each and every single node present in a layer is connected to nodes in the next layer.

It uses a nonlinear activation function. A multilayer perceptron neural network is applied in machine translation and speech recognition technologies.

4) Convolutional Neural Network

This type of neural network uses a variation of the multilayer perceptrons. Convolutional neural networks contain single or more than one layer that can be pooled or entirely interconnected.

They show good results in paraphrase detection and semantic parsing. They are applied in image classification and signal processing.

5) Recurrent Neural Network(RNN) – Long Short Term Memory

It is a type of artificial neural network where a particular layer’s output is saved and then fed back to the input. This helps in predicting the outcome of a layer. The formation of the first layers is the same as it is in the feedforward network.

The recurrent neural network starts with front propagation but it remembers all the information that is might need to use later.

The artificial neural network is used in text-to-speech conversion technology.

6) Modular Neural Network

This neural network has many different networks functioning independently, performing sub-tasks. They do not do any kind of interaction with one another during the process of computation. The independently work to achieve the output.

7) Sequence-To-Sequence Models

This contains two recurrent neural networks. An encoder is present that processes the input and the output is processed by a decoder. The encoder and decoder can use similar or even different parameters.

Sequence-To-Sequence models are mainly applied in question answering, machine translations systems, and chatbots.

What Are The Advantages of Neural Networks

There are various advantages of neural networks, some of which are discussed below:

1) Store information on the entire network

Just like it happens in traditional programming where information is stored on the network and not on a database. If a few pieces of information disappear from one place, it does not stop the whole network from functioning.

2) The ability to work with insufficient knowledge:

After the training of ANN, the output produced by the data can be incomplete or insufficient. The importance of that missing information determines the lack of performance.

3) Good falt tolerance:

The output generation is not affected by the corruption of one or more than one cell of artificial neural network. This makes the networks better at tolerating faults.

4) Distributed memory:

For an artificial neural network to become able to learn, it is necessary to outline the examples and to teach it according to the output that is desired by showing those examples to the network. The progress of the network is directly proportional to the instances that are selected.

5) Gradual Corruption:

Indeed a network experiences relative degradation and slows over time. But it does not immediately corrode the network.

6) Ability to train machine:

ANN learn from events and make decisions through commenting on similar events.

7) The ability of parallel processing:

These networks have numerical strength which makes them capable of performing more than one function at a time.

Advantages of Convolutional Neural Networks for Businesses and Enterprises

Utilizing intelligent automation in order to boost up the growth process of your business might become your best decision to stay ahead of your competitors. Let’s discuss what are some key benefits of neural networks for business and enterprises.

1) Cost and Time Benefits

Among the three most common neural networks advantages, cost and time benefit remains on the top. Neural networks are considered ad trainable brains. You feed them information about your organization and train them in order to perform tasks such as report generation. These networks will use that new information, training, and work experience to improve and adapt in a similar way that a human worker learns.

However, these networks are faster than the human workforce and function at a rapid pace and nor do they sleep. Using deep learning in your business operations can enable you to save money and time that you spend in hiring workers or in outsourcing for certain projects. You can no only save money and time but also have your work done faster and error-free.

2) Quality and Accuracy In Results

The benefits of neural networks involve high quality and accuracy in outputs. Your human workforce, no matter how many times they check for errors, can still leave some flaws unnoticed and that s what you want to eliminate as the CEO of your company. You need accuracy and quality in every big and small task. Humans can get tired and they need rest due to which sometimes they make careless mistakes while working.

These software robots do not need sleep or rest and they will not make any kind of mistake. These networks utilize your company’s information, gather data from the web, information from its own work, and function in order to develop new, improved understandings and provide you with high quality and accurate results.

By using deep learning these robots can easily recognize more images and data, understand spoken language, remove problems and perform efficiently.

Through improvements done by intelligent automation, your human workers might get worried about their jobs but actually, they have greater potential for growth.

3) Job Growth

Jobs growth is also one of the most common neural network advantages. Companies that use machine learning must have to train their workers to use the software. This actually means growth for the right human worker.

Your other employees can easily concentrate on more important things while doing their daily work and without being distracted by these time consuming and repetitive and tasks that you can handover to AI. When your human workforce is relaxed and at ease, they will find more time to create and improve their work performance which can lead to the rapid growth of your organization.

These advantages of artificial neural networks are appealing enough for any business to implement machine learning so as to improve their business performance and enhance their growth process. There is a tough competition out there which makes it hard for businesses to survive and strive but with the use of advanced technology and intelligent automation, organizations can easily maintain their place in the industry.

FAQs

Why neural networks are used in 2020?

Deep learning provides endless opportunities for businesses in order to grow and improve their business operations. Through intelligent automation and using deep learning, great changes can be bought in daily life activities. There are still debates on AI and data ethics, however, businesses are relying more and more every day on advanced technology as their valuable resource for survival as there are various advantages of neural networks. With growing competition, neural networks are only paving the way for businesses to grow faster and work better.

What is the advantage of deep learning?

The biggest benefit of deep learning is that it is able to execute featuring engineering on its own. In a deep learning approach, the data is scanned by an algorithm in order to identify features that correlate and later combine them in order to promote fast learning.

Advantages of neural networks over machine learning?

Deep learning focuses on unsupervised learning. To be better said, deep learning utilizes machine learning algorithms that are able to improve without constant help from a human. Deep learning is able to do this by using artificial neural networks. But deep learning is not entirely dependent upon ANN. However, there are some aspects that take inspiration from ANN.

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Muhammad Imran is a regular content contributor at Folio3.Ai, In this growing technological era, I love to be updated as a techy person. Writing on different technologies is my passion and understanding of new things that I can grow with the world.

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