Statice, Berlin-based leading data privacy software vendor, has been named Sample 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).
The reports address one of the major challenges in AI development today, which is obtaining real-world data to effectively train ML models. Synthetic data can alleviate this time-consuming and costly task while avoiding the use of Personally Identifiable Information (PII). Statice has been mentioned as one of the example solutions to consider.
Both reports predict a massive increase in synthetic data adoption and growing buyers' interest across all industries. This is due to reduced costs, saved time, improved ML performance, and the ability of synthetic data to eliminate PII exposure. Gartner has already estimated that by 2030, synthetic data will completely overshadow real data in AI models.
“The inclusion in Gartner's Hype Cycle reports for both AI and Data Science indicates a maturing synthetic data market. As the pioneers in this space, Statice is pleased to be recognized by the industry’s top research and consulting firm. As we continue to develop data synthesization and anonymization products, we look forward to helping organizations innovate while safeguarding individual privacy."
Gartner analysts note that synthetic data applications have surpassed computer vision or automotive applications, spanning data monetization, external analytics, platform evaluation, and test data development.
Sources (available to Gartner subscribers):
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