Fernando Lucini, Global Data Science & Machine Learning Engineering Lead at Accenture, joins me on Tech Talks Daily to discuss synthetic data. We explore how privacy concerns and process issues are still holding businesses back from developing advanced analytics initiatives – and how synthetic data (artificially generated by an AI algorithm) might be able to help. We discuss how the technology has potential across a range of industries. Synthetic data’s most obvious benefit is that it eliminates the risk of exposing critical data and compromising the privacy and security of companies and customers. With synthetic data, a company can quickly train machine learning models on large data sets, accelerating the processes of training, testing, and deploying an AI solution. While the benefits of synthetic data are compelling, realizing them can be difficult. Generating synthetic data is a highly complex process, and to do it right, an organization needs to do more than plug in an AI tool to analyze its data sets. We discuss how the task requires people with specialized skills and truly advanced knowledge of AI.