What Is ‘Synthetic Data’ ?

In this insight, focusing particularly on AI and ML, we look at what synthetic data is, where it comes from and what it’s used for, its challenges, and the implications for businesses. 

What Is Synthetic Data? 

Synthetic data is data that’s been artificially created rather than derived from real-world activities. Synthetic data is not a new idea and had its first major commercial use in developing simulations for autonomous vehicle systems. Today it’s become particularly useful in Artificial Intelligence (AI) to train Machine Learning algorithms.