(MENAFN- GlobeNewsWire - Nasdaq) VIENNA, Austria, Oct. 14, 2021 (GLOBE NEWSWIRE) -- MOSTLY AI , which pioneered the creation of AI-generated synthetic data, announced today the launch of a new training program intended to help train the next generation of synthetic data superusers within enterprises. Several clients have already leveraged this first-of-its-kind program to kickstart their synthetic data journeys, with very positive results.
Synthetic data sets look just as real as a company's original customer data reflecting behaviors and patterns with up to 99% accuracy, but without the original personal data points – helping companies comply with privacy protection regulations such as GDPR, while at the same time uncovering insights from the data. Unlike original data, synthetic data can be generated quickly in abundance, and is proven to drastically improve machine learning model performance. As a result, it is often used for advanced analytics and AI training, such as predictive algorithms, fraud detection and pricing models. It also allows enterprises to use sensitive data in cloud environments.
MOSTLY AI's synthetic data technology has been proven to reduce time-to-data by 90 percent, save larger companies $10M+ annually on data provisioning and internal overhead, and boost available data by 85 percent for test data generation through data synthesis. However, because the technology is new, expertise in AI generated synthetic data is very scarce. Enterprises are therefore highly interested in the know-how and best practices for staff training and how to utilize synthetic data for their business use cases.
According to MOSTLY AI CEO Tobias Hann, the company's new professional services offerings are designed to fill that gap and quickly bring an enterprise's internal staff up to speed on how to best leverage synthetic data.“We developed this program because we recognized that a large barrier to synthetic data success was a lack of expertise within enterprises,” said Hann.“MOSTLY AI's new training programs are the best way to kick start their synthetic data journey, expedite time-to-value, and maximize their return on investment.”
MOSTLY AI's synthetic data training is delivered by a cross-functional team of synthetic data experts and thought leaders. They have the unique combination of financial service business knowledge and data science background. MOSTLY AI is hiring quickly to fulfill the growing demand from Fortune 100 banks and insurers in North America and Europe.
The learning outcomes of the 1- to 3-day programs include:
- Synthetic data's core concepts and principles – the Why, How and What
- How to run an end-to-end synthetic generation using the MOSTLY AI platform
- How to assess, interpret and communicate the privacy and accuracy of synthetic datasets
- Synthetic data beyond privacy - advanced synthetic data generation techniques
- Best practice advice on how to kick-start the organization's synthetic data journey .
To learn more, visit mostly.ai .
About MOSTLY AI
MOSTLY AI pioneered the creation of synthetic data for AI model development and software testing. MOSTLY AI's synthetic data sets look just as real as a company's original customer data with just as many details, but without the original personal data points – thus helping companies comply with privacy protection regulations such as GDPR, and ensuring models are fair and unbiased. The fast-growing company currently works with multiple Fortune 100 banks and insurers in North America and Europe, and has the deepest expertise in helping companies get business value out of synthetic data. Learn more at mostly.ai .
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