Could Synthetic Data be the Future of Data Sharing?

This article in CPO Magazine explores the rise of synthetic data generation (SDG) as a privacy-enhancing technology for sharing non-identifiable datasets. SDG uses machine learning to create synthetic data closely mirroring real data patterns, making it suitable for sectors like health and finance. By 2024, it's predicted that 60% of AI and analytics data could be synthetically generated, reducing the need for real data. Privacy regulators are recognizing synthetic data as non-identifiable, offering potential benefits in terms of democratizing data access and minimizing privacy risks in case of breaches.