Neural Nets Gaining Traction With Banks

Banking, insurance and financial services are driving the vibrant neural network software market along with growing uptake in the health care market, according to a new market forecast. The estimated 26 percent annual growth rate for neural network software through 2021 is also being spurred by emerging real-time AI applications in diverse market segments such as public safety. For example, partners Motorola Solutions and AI specialist Neurala said this week they are collaborating on a project to integrate Neurala's neural networking technology with Motorola software used in surveillance cameras. Meanwhile, market researcher Technavio reported last week that global demand for neural network software is being fueled by financial services, which accounts for about 45 percent of the total market. "Neural networks are mainly applicable to various data problems of the financial industry," the London-based market watcher said.