Over the coming years, the advancement of driverless transport systems for people and goods that are designed to be used on fixed routes will revolutionize the transportation system. Therefore, for a safe transportation system, detecting and recognizing traffic signals based on computer vision has become increasingly important. Deep learning approaches, particularly convolutional neural networks, have shown exceptional performance in various computer vision applications. The goal of this research is to precisely detect and recognize traffic signs that are present on the streets using computer vision and deep learning techniques. Previous work has focused on symbol-based traffic signals, where popular single-task learning models have been trained and tested. Therefore, several comparisons have been conducted to select accurate single-task learning models. For further improvement, these models are employed in a multi-task learning approach. Indeed, multi-task learning algorithms are built by sharing the convolutional layer parameters between the different tasks. Hence, for the multi-task learning approach, different experiments have been carried out using pre-trained architectures like, for instance, InceptionResNetV2 and DenseNet201. A range of traffic signs and traffic lights are employed to validate the designed model. An accuracy of 99.07% is achieved when the entire network has been trained. To further enhance the accuracy of the model for traffic signs obtained from the street, a region of interest module is added to the multi-task learning module to accurately extract the traffic signs available in the image. To check the effectiveness of the adopted methodology, the designed model has been successfully tested in real-time on a few Riyadh highways.