Data driven algorithms like neural networks have taken the world by storm. They recent surge is due to several factors, including cheap and powerful hardware, and vast amounts of data. Neural Networks are currently the state of the art when it comes to'cognitive' tasks like image recognition, natural language understanding, etc.,but they don't have to be limited to such tasks. In this post I will discuss a way to compress images using Neural Networks to achieve state of the art performance in image compression, at a considerably faster speed. This article assumes some familiarity with neural networks, including convolutions and loss functions.