Synthetic data is essential to building capable AI models

Synthesis AI released a new report in conjunction with Vanson Bourne highlighting how 89% of technology executives view synthetic data as a key emerging technology to creating more capable models, cutting the cost of data labeling, improving access to data, and reducing the time it takes to build AI models. Industry leaders believe that, on average, 59% of their industry will utilize synthetic data in five years, either independently or in combination with ‘real-world’ data. This suggests that synthetic data will play an important role in the development of next-generation AI models. The survey report, Adapt or Be Left Behind: 89 Percent of Tech Execs See Synthetic Data As a Key to Transforming Their Industry, is based on a survey of 100 senior technology executives on their perceptions of synthetic data, potential benefits and barriers of implementation, and what industry leaders think it will take to continue driving the adoption of synthetic data.