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Unlocking the Potential of Synthetic Data for Businesses Today: An Overview of Benefits and Challenges.

Synthetic data is a powerful tool that can help businesses to gain an edge in the market. It is generated using artificial intelligence (AI) and machine learning (ML) algorithms, enabling organizations to create artificial datasets which are statistically similar to real-world data sets but do not contain any sensitive information. This makes it an attractive option for many businesses, as they can use the data to create models and simulations without having to worry about privacy or security concerns.