Statice named a Sample Vendor in two 2022 Gartner^® Hype Cycle™ reports on Artificial Intelligence and Data Science and Machine Learning.

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Statice, Berlin-based leading data privacy software vendor, has been named aSample Vendor in the two latest Gartner Hype Cycle ™ Reports: Hype Cycle for Artificial Intelligence, 2022 (1) and Hype Cycle for Data Science & Machine Learning, 2022 (2).

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As noted by Gartner® in the Hype Cycle report™ for Data Science and Machine Learning 2022 "one of the major problems with AI development today is the burden in obtaining real world data and labeling it so AI models can be trained effectively. This is a time-consuming and expensive task that can be remedied by synthetic data. Furthermore, synthetic data is critical in removing personally identifiable information (PII)". Statice has been mentioned as one of the example solutions to consider.

The same report predicts an increase in synthetic data adoption and growing buyers' interest across all industries notably due the multiple benefits of the technology. The report mentions, for example, how synthetic data can "reduce cost and save time in ML development as it is cheaper and faster to obtain". In an online Q&A on "Is Synthetic Data the Future of AI?", Gartner analyst Alexander Linden mentioned that Gartner already estimated that by 2030, synthetic data will completely overshadow real data in AI models.

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‍“We believe that the inclusion in Gartner's Hype Cycle reports for both AI and Data Science indicates a maturing synthetic data market. As pioneers in this space, Statice is pleased to be recognized by Gartner in the reports. We look forward to helping organizations innovate while safeguarding individual privacy, as we continue to develop data synthesization and anonymization products."

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The same report mentions that "synthetic data applications have expanded beyond automotive and computer vision use cases to include data monetization, external analytics support, platform evaluation and the development of test data."

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Sources (available to Gartner subscribers):

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1. Gartner, Hype Cycle for Artificial Intelligence, By Analyst(s): Afraz Jaffri, Farhan Choudhary, 2022. Synthetic data analysis by: Anthony Mullen, Alexander Linden, Arun Chandrasekaran.
2. Gartner, Hype Cycle Data Science & Machine Learning 2022 By Analyst(s): Farhan Choudhary, Peter Krensky. Synthetic data analysis by: Anthony Mullen, Alexander Linden, Arun Chandrasekaran.

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