Trend 14: Enterprise AI and decision making intensify with synthetic data

Enterprise AI intensifies the reliance on data for decision-making, but finding suitable training data remains a challenge. Enter synthetic data — computer-generated, algorithmically crafted datasets filling gaps where real data is scarce, sensitive, biased, or poses privacy risks. It powers generative AI, robotics, metaverse, and 5G, extending into mission-critical scenarios like healthcare.

Some research even shows that synthetic data will completely overshadow real-world data usage by 2030. It enables robust ML algorithms, upholds GDPR standards, and respects cross-border data flows. However, human-centric considerations, including value, privacy, ethics, and sustainability, demand careful attention. Infosys advises building a synthetic data center of excellence to use synthetic data responsibly and effectively.

A prominent medical manufacturer and supplier partnered with Infosys to build synthetic data sets for product development and AI-based predictive analytics. These synthetic data sets can be shared and reused beyond the scope of initial collection, an essential component to accelerate research and product development.