Synthetic Data Generation Market to Grow at CAGR of 34.8% through 2033 - Rising Demand for High-Quality Training Data to Bolster Growth [Yahoo! Finance]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Yahoo! Finance
The market ought to witness a positive growth rate owing to increasing adoption of synthetic data generation technology across industries. Newark, May 08, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the global synthetic data generation market will grow from USD 316.11 Million in 2023 to USD 6,262.27 Million by 2033. Synthetic data generation has many applications across different domains and uses cases. In healthcare, it presents an opportunity for researchers and practitioners to overcome issues with privacy and access while developing innovative solutions without the risk of disclosing sensitive patient information. Likewise, synthetic data in finance is valuable as it enables more accurate assessment in training predictive models, which can aid investment strategies. All this is done while preserving confidentiality around financial transactions. Furthermore, within cybersecurity contexts- generating artificial or "synthetic" datasets helps create simulated attack
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