What is synthetic data? How can synthetic data enable innovation? And which industries are currently already using this type of data and for which industries will its use be exciting in the future?
In this English edition of the podcast, we talk to the start-up Statice. Statice is a Berlin-based company that developed a synthetic data privacy technology to help enterprises, safeguard customer privacy, while gaining insights from data for research, business development and decision making.
Anonymizing data to such an extent, that it isn’t traceable anymore is challenging. Although most of our personal information may be generic or anonymous, it can still be traced back or reveal our identity. There have already been implemented many privacy regulations, e.g., the General Data Protection. Those regulations restrict how you can collect and use data. They are an important protection framework, since they prevent data misuse, illegal transfers, or leaks. Statice gives a possible solution in providing synthetic data. The goal is to further minimize privacy risks while also gaining insights from data to enable innovation.
As an article on synthetic data suggests, synthetic data has even the potential to reduce gender or racial bias in various sectors. To understand the use, potential and challenges of synthetic data, we spoke to two professional services consultants from statice, Mélissa Djuimo and Beatrice Milik, about how synthetic data can offer a solution for the use of (big) data in the different industries while complying with data protection guidelines.
Folge 3: Synthetic Data
Interview Partner: Mélissa Djuimo und Beatrice Milik from Statice
Redaktion: Ana Teresa Burgueño Hopf
Moderation und Technik: Ana Teresa Burgueño Hopf
Sound: ©freesound: elaineaeris
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