Convolutional Neural Network (CNN) has attained high accuracy and it has been widely employed in image recognition tasks. In recent times, deep learning-based modern applications are evolving and it poses a challenge in research and development of hardware implementation. Therefore, hardware optimization for efficient accelerator design of CNN remains a challenging task. A key component of the accelerator design is a processing element (PE) that implements the convolution operation. To reduce the amount of hardware resources and power consumption, this article provides a new processing element design as an alternate solution for hardware implementation. Modified BOOTH encoding (MBE) multiplier and WALLACE tree-based adders are proposed to r...