DEEP LEARNING NEURAL NETWORK AND ITS APPLICATION IN THE RETAIL

Source: Deep Learning on Medium

DEEP LEARNING NEURAL NETWORK AND ITS APPLICATION IN THE MODERN WORLD

What are neural networks?

Neural networks comprise of a bunch of algorithms that try to mimic the human neurons. Much like the human brain where the neurons interpret the sensory data, they do the same using machine perception, clustering, labeling of the input. All of the real-world data- image, sound, text are translated into numerical form which the algorithms understand. These numericals are contained in vectors. Once we have the input data, neural network helps in clustering and classifying the same. Then we have the activation function that transforms the weighted sum of the inputs fed.

Some common activation functions are:

What is Deep Learning?

Deep learning comes under the family of machine learning, based on artificial neural network.

Source: Google images

Top frameworks used in deep learning and their popularity over time:

And an interesting finding of Harvard Business Review shows:

Companies in the top third of their industry in the use of data-driven decision making were, on average, 5% more productive and 6% more profitable than their competitors

Top Applications of Deep Learning:

  1. In Autonomous vehicles
  2. Detection of Fraud
  3. Healthcare
  4. Personalization

Amazon is one of the greatest examples that is leveraging Deep learning and Artificial intelligence to predict customer preferences and behaviour.

It started with the good old, product recommendations based on customer purchase and preference pattern. Over the span of last few years, the AI algorithm has been tweaked again and again to come up with products like Alexa a voice assistant.

Amazon Go stores are another first-of-its-kind convenience stores. ‘Convenience’ would be an understatement to define these stores. They are as simple as picking up the stuff you need and walking off, making long serpentine queues at the counters a thing of the past. The bill which is automatically generated is sent across to you for payment. This has been made possible with the combination of computer vision and advanced deep learning.

Amazon has made its products offer great user experience, and has also made its fulfillment centers high tech.

Ceiling of Amazon Go (Source: clresearch)

On the click of an order half the globe apart, the yellow robots in the Amazon’s fulfillment centers churn up and reorder/ rearrange the shelves as per the request.

Thus saving time and human effort. Even a couple of seconds saved can have a huge impact on the bottom line. All of it, makes it not just a leading tech giant but also a trillion dollar company in market capitalisation.

Robots at an Amazon fulfillment center. (Source: Amazon)

Reference:

  1. Connect.liblynx.com
  2. https://skymind.ai/wiki/neural-network
  3. http://www.clresearch.com/research/detail.cfm?guid=6A608036-3048-78A9-2FB3-4E6295D65919