The Rise of Synthetic Data – Creating data that doesn’t exist. There are situations where collecting real-world data can be challenging or even unethical. That’s where synthetic data comes in. Think of it like creating a Hollywood movie set – it may not be real, but it can be incredibly realistic and serve a valuable purpose. Synthetic data can be used to train AI models, test new products, and even conduct privacy-preserving simulations. A healthcare company, for example, could use synthetic patient data to develop new treatments without compromising real patient information.
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