Final answer:
The thalamus is responsible for conducting sensory information to the cerebral cortex, except for smell, and it also processes this information before it reaches the cortex.
Step-by-step explanation:
The part of the nervous system that conducts sensory information from other parts to the cerebral cortex is the thalamus. The thalamus, which is a major hub for information travelling to and from the cerebral cortex, plays a critical role in filtering and relaying sensory signals. It also has an essential function in the regulation of consciousness, sleep, and alertness. All sensory pathways, with the exception of the olfactory pathway, require a synapse in the thalamus before the sensory information reaches the cortex. Hence, the thalamus not only acts as a passageway but also processes this information, determining the importance and attention given to different sensory stimuli.