Cool vendors in this report offer synthetic data, data labeling and database innovations as part of data-centric AI.
VIENNA, Austria and NEW YORK, Jan. 19, 2023 (GLOBE NEWSWIRE) -- MOSTLY AI has been recognized as a Cool Vendor in the Data-Centric AI report by leading analyst firm, Gartner, in a report titled ‘Cool Vendors in Data-centric AI’1. Cool vendors in this report offer synthetic data, data labeling, and database innovations as part of data-centric AI.
As explained in the report, data-centric AI is a rapidly growing trend that disrupts prevalent model-centric data science by providing solutions to improve the quality of machine learning/artificial intelligence. Key findings include:
“Challenges such as data accessibility, volume, privacy, security, complexity and scope are among the top barriers to AI implementations. Data-centric AI solutions — like AI-specific data management, synthetic data and data labeling technologies — aim to solve many data challenges.”
“Across industries, synthetic data is increasingly leveraged to generate datasets that represent difficult-to-obtain data or possible future scenarios, all without privacy concerns.”
“We are delighted to be listed as a Cool Vendor by Gartner,” says Dr. Tobias Hann, CEO at MOSTLY AI, adding, “We have big plans for 2023 and beyond, to build on the success we’ve had so far in helping our customers realize the benefits of synthetic data across a variety of use cases — including data anonymization, machine learning development, and test data generation. And we’re just weeks away from launching the next edition of our platform, that’ll further help our customers and prospects to unleash the potential that exists in their data.”
“The time for synthetic data adoption is now,” concludes Hann. According to the Gartner report, “By 2024, 60% of data for AI will be synthetic to simulate reality, future scenarios and derisk AI, up from 1% in 2021.”
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About MOSTLY AI
MOSTLY AI pioneered the creation of synthetic data for AI model development. Datasets generated by the MOSTLY AI platform look just as real as a company’s original customer data with just as many details, but without the original personal data points – helping companies comply with privacy protection regulations such as GDPR and CCPA, and ensuring models are fair and unbiased. The fast-growing company currently works with multiple Fortune 100 insurers and banks in Europe and North America, and has the deepest expertise in helping companies get business value out of synthetic data. Learn more at mostly.ai.
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1 Gartner, ‘Cool Vendors in Data-Centric AI,’ Svetlana Sicular, Arun Chandrasekaran, Sumit Agarwal, Oleksandr Matvitskyy, Anthony Mullen; 14 December 2022