Hype Cycle 2022: Gartner Predicts High Importance of Synthetic Data – Economics and Volkswagen – News

Berlin (ots) – Berlin-based synthetic data provider Statice has been named a sample supplier in two Gartner publications on the Hype Cycle in the areas of AI, data science and machine learning, and announces a new data security feature.

Statice, a leading provider of data protection software, was named a sample provider in two of the latest Gartner Hype Cycle reports: Hype Cycle for Artificial Intelligence 2022 and Hype Cycle for Data Science & Machine Learning 2022. The reports address one of the biggest challenges in today’s artificial intelligence development, namely, acquiring real data to effectively train machine learning models. Synthetic data can facilitate this time-consuming and costly task while avoiding the use of Personally Identifiable Information (PII). Statice offers the right solutions.

Both reports predict a tremendous increase in synthetic data adoption and buyer interest across all industries. The reasons for this are lower costs, time savings, better ML performance, and the ability of synthetic data to remove personal items from data sets. Gartner’s responsible analysts already estimate that by 2030, synthetic data will completely eclipse actual data in AI models.

“The inclusion in the Gartner’s Hype Cycle reports on artificial intelligence and data science shows that the synthetic data market is maturing. As a pioneer in this field, Statice is pleased to be recognized by an industry-leading research and consultancy firm. We develop products for data fusion and anonymization and are delighted to help companies innovate while protecting individuals’ privacy, said Omar Ali Fdal, Statice CEO.

Gartner’s analytical teams also found that synthetic data overtook computer and automotive fields of view and is now used in data monetization, external analytics, platform validation and test data development.

Enterprise Data Protection Toolkit

In the next step, Statice announces new functions for the protection of sensitive data. This makes privacy protection more accessible to companies in the financial, insurance and healthcare sectors. To further promote market adoption and make privacy the standard norm, organizations need easy-to-use tools that fit into their data realities. That’s why Statice is constantly improving its data protection offering and has recently added new cleanup capabilities to its data synthesis solution. Here, Statice goes one step further and combines synthetic data with further data protection functions. In this way, Statice offers a set of tools to meet the individual needs of the company and the most appropriate data protection setting for each industry and company.

Businesses need a simple way to enforce existing laws such as GDPR / HIPAA. However, these policies differ in many countries, and Statice software may adequately reflect: Users can use them to configure policies according to the GDPR, HIPAA Safe Harbor, or according to their own framework to ensure compliance and facilitate collaboration on data projects. This includes custom rules that let you set transform operators for selected attributes. For example, names may be masked, customer emails obfuscated, or zip codes has been hashed. Policies are available for all data and projects, facilitating the standardization and processing of personally identifiable information and information.

Sources

Gartner, Hype Cycle for Artificial Intelligence, 2022. Analysts: Afraz Jaffri, Farhan Choudhary. Synthetic data analysis: Anthony Mullen, Alexander Linden, Arun Chandrasekaran.

Gartner, Hype Cycle Data Science & Machine Learning, 2022. Analysts: Farhan Choudhary, Peter Krensky. Synthetic data analysis: Anthony Mullen, Alexander Linden, Arun Chandrasekaran.

More product updates from Statice (https://www.statice.ai/post/the-statice-platform-and-sdk-update)

Gartner disclaimer:

GARTNER and HYPE CYCLE are registered trademarks and service marks of Gartner, Inc. and / or its affiliates in the United States and around the world and are used with permission. Gartner does not endorse any vendor, product, or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner’s research publications consist of the opinions of the Gartner research organization and should not be construed as statements of facts. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Statice

Statice is developing state-of-the-art data protection technology that enables companies to accelerate their data-driven innovation while protecting individuals’ privacy. Using Statice anonymization software, companies generate privacy-compliant synthetic data suitable for any type of data integration, processing and distribution. With Statice, companies in the financial, insurance and healthcare sectors can improve the quality of their data and thus significantly improve their value chain. Statice enables you to train machine learning models, use cloud infrastructures and share data with partners. Find out more about Statice at www.statice.ai

Press contact:

Jan Runhaar, PIABO PR statice@piabo.net

Original content: Statice, provided by news aktell

Newsroom of the press portal: news Aktuell GmbH

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