Convert black and white pictures into color images

Question

I have a digital image of an old black and white picture. Is it possible, using Mathematica, to convert this old picture into a black and white image? For example:

This transformation was done using Photoshop and a special neural filter. But is it also possible with Mathematica?

Answer 1

Note I did not write any of this code, netevaluation is taken directly from the Examples -> Evaluation Function of the "ColorNet Image Colorization Trained on ImageNet Competition Data" page on the Wolfram neural net repository:

netevaluation[img_Image] := 
 Image[Prepend[
   ArrayResample[
    NetModel[
      "ColorNet Image Colorization Trained on ImageNet Competition \
Data"][img], Prepend[Reverse@ImageDimensions@img, 2]], 
   ImageData[ColorSeparate[img, "L"]]], Interleaving -> False, 
  ColorSpace -> "LAB"]

It produces a colored image, although in this specific case it seems the photoshop output is more vividly colored compared to this output:

img = Import["https://i.sstatic.net/WVZWNm.jpg"];
img = ColorConvert[img, "Grayscale"];

colored = netevaluation[img];

ImageCollage[{img, colored}]