Abstract-Deep learning is an emerging AI based technology that has provided breakthroughs in different areas such as Visual Object Recognition, Natural language processing and Speech recognition either matching or surpassing Human Performance. Affordable high computing power, specialized hardware and advancement of machine learning algorithms have provided the growth acceleration for deep learning. The paper provides a high level classification of the Deep learning based architectures, top level view of the recent industry based developments undertaken on a global scale for embracing this technology, current features that have achieved state of the art performance in various fields such as Computer Vision, Speech Processing, Cloud Computing, Healthcare, Robotics, Nanotechnology, Genetics. Finally the paper looks at the forthcoming features in pipeline in all major fields and future of AI.