Hi there,
As we reach the end of the year and its usual plethora of prediction articles, one thing is sure about 2021. We’ll talk about synthetic data.
If we rewind a bit, 2019 saw a surge of interest from the public for deep fakes. And as they gained in popularity, they also spotlight the underlying technology, deep generative models. In 2020, with ever-increasing concerns around privacy and tightening regulations, the conversation shifted to different applications and uses for deep learning methods. As companies adopted such tools, the concept of privacy-preserving synthetic data got the attention of forecast and market research companies.
As we reach 2021, we now see daily reports of successful projects with synthetic data. The Financial Conduct Authority (FCA) launched its Financial Sandbox Project, with a synthetic datasets collection for fraud analysis. Besides structured synthetic data, other types of synthetic data are yielding positive results. Penn State researchers were able to enhance satellite image results with synthetic data to power a volcanic activity detection system. The car manufacturer Volvo proved the efficacy of using synthetic visual data to train autonomous vehicles. So, it’s quite safe to assume that 2021 might see more of synthetic data than ever before!
In this spirit, we come to you this month with resources covering multiple applications of synthetic data. Learn about its technical landscape in our latest webinar, medical applications for it in Newsenselab case study, or discover how it could help access sensitive time-series data.
Happy reading!
The Statice team
