Economical uses of ANN

Economic Uses of ANN:

The economic uses of ANNs may be the most exciting.

Large financial institutions have used ANNs to improve performance in such areas as bond rating, credit scoring, target marketing and evaluating loan applications. These systems are typically only a few percentage points more accurate than their predecessors, but because of the amounts of money involved, they are very profitable. ANNs are now used to analyze credit card transactions to detect likely instances of fraud.
ANNs are used to discover other kinds of crime, too. Bomb detectors in many U.S. airports use ANNs to analyze airborne trace elements to sense the presence of explosive chemicals. And the personnel office of the Chicago Police Department uses ANNs to try to root out corruption among police officers.