Neural networks—also known as Artificial Neural Networks—were first proposed in the 40s by MIT professors Warren McCullough and Walter Pitts.
For more information refer, Explained: Neural networks. MIT News Office, April 14, 2017. Available at:
http://news.mit.edu/2017/explained-neural-networksdeep-learning-0414.
http://news.mit.edu/2017/explained-neural-networksdeep-learning-0414.
Inspired by advancements in neuroscience, they proposed to create a computer system that reproduced how the brain works (human or otherwise). At its core was the idea of a computer system that worked as an interconnected network. That is, a system that has many simple components. These components both interpret data and influence each other on how to interpret data. This same core idea remains today.
Deep learning is largely considered the contemporary study of neural networks. Think of it as a current name given to neural networks...