{"id":148246,"date":"2022-10-15T23:23:01","date_gmt":"2022-10-16T04:23:01","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2022\/10\/the-multi-billion-dollar-potential-of-synthetic-data"},"modified":"2022-10-15T23:23:01","modified_gmt":"2022-10-16T04:23:01","slug":"the-multi-billion-dollar-potential-of-synthetic-data","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2022\/10\/the-multi-billion-dollar-potential-of-synthetic-data","title":{"rendered":"The multi-billion-dollar potential of synthetic data"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/the-multi-billion-dollar-potential-of-synthetic-data2.jpg\"><\/a><\/p>\n<p><em>Did you miss a session from MetaBeat 2022? Head over to the on-demand library for all of our featured sessions<\/em> <em><a href=\"https:\/\/metabeat.venturebeat.com\/agenda?utm_source=vb&utm_medium=boiler&utm_content=ondemand&utm_campaign=BoilerPlates\">here<\/a>.<\/em><\/p>\n<p><a href=\"https:\/\/venturebeat.com\/2021\/12\/21\/taking-the-world-by-simulation-the-rise-of-synthetic-data-in-ai\/\" target=\"_blank\" rel=\"noreferrer noopener\">Synthetic data<\/a> will be a huge industry in five to 10 years. For instance, Gartner <a href=\"https:\/\/blogs.gartner.com\/andrew_white\/2021\/07\/24\/by-2024-60-of-the-data-used-for-the-development-of-ai-and-analytics-projects-will-be-synthetically-generated\/#:~:text=A%20Gartner%20'Predict'%2C%20published, projects%20will%20be%20synthetically%20generated%E2%80%9D.\">estimates<\/a> that by 2024, 60% of data for AI applications will be synthetic. This type of data and the tools used to create it have significant untapped investment potential. Here\u2019s why.<\/p>\n<p>We are effectively on the cusp of a revolution in how machine learning (ML) and <a href=\"https:\/\/venturebeat.com\/ai\/artificial-intelligence-ai-vs-machine-learning-ml-key-comparisons\/\">artificial intelligence<\/a> (AI) can grow and have even more applications across sectors and industries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Did you miss a session from MetaBeat 2022? Head over to the on-demand library for all of our featured sessions here. Synthetic data will be a huge industry in five to 10 years. For instance, Gartner estimates that by 2024, 60% of data for AI applications will be synthetic. This type of data and the [\u2026]<\/p>\n","protected":false},"author":662,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-148246","post","type-post","status-publish","format-standard","hentry","category-robotics-ai"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/148246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/662"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=148246"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/148246\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=148246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=148246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=148246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}