What Is Synthetic Data?
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Data is the new oil in today’s age of AI, but only a lucky few are sitting on a gusher. So, many are making their own fuel, one that’s both inexpensive and effective. It’s called synthetic data.
Synthetic data is annotated information that computer simulations or algorithms generate as an alternative to real-world data. Put another way, synthetic data is created in digital worlds rather than collected from or measured in the real world. Synthetic data reflects real-world data, mathematically or statistically. Research demonstrates it can be as good or even better for training an AI model than data based on actual objects, events or people.
Banks, car makers, drones, factories, hospitals, retailers, robots and scientists use synthetic data today.
In a recent podcast, researchers from Ford described how they combine gaming engines and generative adversarial networks (GANs) to create synthetic data for AI training. To optimize the process of how it makes cars, BMW created a virtual factory using NVIDIA Omniverse, a simulation platform that lets companies collaborate using multiple tools. The data BMW generates helps fine tune how assembly workers and robots work together to build cars efficiently.