  A novel algorithm for tunable compression to within the precision of
reproduction targets, or storage, is proposed. The new algorithm is termed the
`Perceptron Algorithm', which utilises simple existing concepts in a novel way,
has multiple immediate commercial application aspects as well as it opens up a
multitude of fronts in computational science and technology. The aims of this
paper are to present the concepts underlying the algorithm, observations by its
application to some example cases, and the identification of a multitude of
potential areas of applications such as: image compression by orders of
magnitude, signal compression including sound as well, image analysis in a
multilayered detailed analysis, pattern recognition and matching and rapid
database searching (e.g. face recognition), motion analysis, biomedical
applications e.g. in MRI and CAT scan image analysis and compression, as well
as hints on the link of these ideas to the way how biological memory might work
leading to new points of view in neural computation. Commercial applications of
immediate interest are the compression of images at the source (e.g.
photographic equipment, scanners, satellite imaging systems), DVD film
compression, pay-per-view downloads acceleration and many others identified in
the present paper at its conclusion and future work section.
