Synthetic Data: Even Better than the Real Thing?
Synthetic Data is an Important Tool Driving AI Adoption
To successfully use AI, companies need data to train models.
Why it matters: AI requires data. Lots of data. But the data needed isn’t often readily available. When real-world data isn’t available, or too costly – enter synthetic data.
Synthetic data is generated by computers and replaces actual real-world data with reflected data that is mathematically and statistically similar to real-world data.
Some technologists claim synthetic data is better than real-world data when training AI models.
Synthetic data lacks personally identifiable information (PAI) and isn’t subject to compliance restrictions or other data protection laws.
The bottom line. Gartner predicts synthetic data will outpace real-world data in AI models by 2030, and companies will be unable to build high-value AI models without it. With growing demand, more and more companies are now offering synthetic models.
Dig Deeper:
Why synthetic data may be better than the real thing