Deep Learning represents the cutting edge in the ability of machines to analyze, learn from, and interpret data. By utilizing artificial neural networks with multiple layers (hence "deep"), it allows for the automatic learning of representations and features from data without explicit programming for specific tasks. This methodology has been revolutionary in fields such as computer vision, natural language processing, and audio recognition, by providing a means for computers to learn complex patterns in large datasets, improving accuracy and efficiency in tasks like image recognition, language translation, and even playing complex games.

The concept of deep learning dates back to the 1980s, with the popularization of neural networks. However, it didn't gain significant traction until the late 2000s and early 2010s, due to advances in computational power, the availability of large datasets, and improvements in learning algorithms, particularly with the success of AlexNet in 2012, a deep neural network that significantly outperformed other methods in the ImageNet competition.

Key figures in the development of deep learning include Geoffrey Hinton, Yann LeCun, and Yoshua Bengio, often referred to as the "Godfathers of AI," for their contributions to the development of neural networks and deep learning architectures. Their research and advancements have laid the groundwork for the modern explosion of AI capabilities and applications.