LSTM, or long short term memory, seemingly paradoxically named, was co-invented by German computer scientist Sepp Hochreiter, who incubated it in his 1991 diploma thesis leading to its main publication in 1997.
LSTM addresses the problem of numerical instability in training recurrent neural networks (RNNs) that prevent them from learning long sequences (the so-called vanishing gradient problem).
In 2007, he and others applied LSTM, optimizing the architecture, to very fast protein homology detection without requiring sequence alignment.
Protein homology detection is the process of identifying whether two proteins share a common evolutionary origin - one of the core problems in computational biology. Homology implies shared structure and shared function.