Fast and efficient algorithms optimized for high performance computers are crucial for the real-time analysis of data in heavy-ion physics experiments. Furthermore, the application of neural networks and other machine learning techniques has become more popular in physics experiments over the last years. For that reason, a fast neural network package called ANN4FLES is developed in C++, which will be optimized to be used on a high performance computer farm for the future Compressed Baryonic Matter (CBM) experiment at the Facility for Antiproton and Ion Research (FAIR, Darmstadt, Germany). This paper describes the first application of ANN4FLES used in the reconstruction chain of the CBM experiment to replace the existing particle competition between Ks-mesons and Λ-hyperons in the KF Particle Finder by a neural network based approach. The raw classification performance of the neural network reaches over 98% on the testing set. Furthermore, it is shown that the background noise was reduced by the neural network-based competition and therefore improved the quality of the physics analysis.