Unlocking the Potential of Synthetic Data

Understand the potential applications and limitations of generating synthetic data using AI models.

The idea of “synthetic data,” or artificially generated information, has recently caused a stir. Data is a huge asset for businesses in this age, and knowledge often provides a decisive competitive edge. The notion of easily obtaining free data has sparked extravagant claims and controversy.

But, as your mom probably told you — if something seems too good to be true, it is.

However, the reality is a little more nuanced with synthetic data. While we certainly can’t stop collecting data and “just ask the model,” some fascinating middle-ground uses of AI-generated data exist. And judicious use of this data can help drive your business forward. In this situation, there’s no free lunch, but there is at least the possibility of a complementary side or two.

You can read here a thought-piece on this topic I wrote for MarTech Magazine called Unlocking the potential of synthetic data: A business game-changer.