In the face of ever-evolving technology and increasing competition, companies are looking for new ways to improve operational efficiency and innovation. One key element that can play a significant role in achieving these goals is synthetic data.

It is a tool that, despite its technical complexity, offers simplicity and security in use, opening up new business opportunities. In this article, we will take a closer look at what synthetic data is, how it can support the growth of small and medium-sized enterprises (SMEs), and in which industries it will be widely used. Get ready for a dose of valuable tips and inspiration that can help your business grow.

What is synthetic data?

Synthetic data, as the name implies, is artificially created rather than collected from actual events. Generated using algorithms and computer simulations, it mimics real data while retaining its statistical and mathematical properties.

There are three types of synthetic data:

  • simulation data – created using computer simulations, mimics certain scenarios,
  • algorithmically generated data – produced by algorithms, are designed to imitate certain data patterns,
  • AI-based data – created using AI technologies such as neural networks to mimic complex data patterns.

According to Gartner, by 2024, as much as 60% of the data used in AI model training will be synthetic data, which underscores its growing importance.

What is synthetic data used for in SMEs?

For small and medium-sized companies, which often struggle with limited resources, synthetic data can be the key to faster growth and innovation.

They make it possible to test and develop new products or services without the high costs associated with collecting and processing real data. They are particularly well-suited to tasks like:

  • software testing – without the risk of exposing sensitive customer data or inconveniencing users when new versions of algorithms are introduced,
  • AI model training – enabling the creation of more accurate and efficient models without having to buy databases or collect them yourself,
  • business scenario simulation – helping to better prepare for various market conditions that are less likely to occur.

In addition, synthetic data allows you to experiment in a controlled environment, which is especially valuable during the prototyping phase of new solutions.

Benefits of using synthetic data

The main advantage of it is the lack of identifying data, which makes it an ideal tool for companies that want to test and develop AI models without compromising privacy. However, the use of synthetic data brings with it a number of additional benefits that can have a significant impact on a company’s operations. Here are some of them:

  • provides high quality and balanced data, which is crucial for accurate analysis and decisions,
  • eliminate the need for time-consuming data labeling , saving time and reducing costs,
  • help reduce bias by creating more balanced data sets,
  • minimize privacy concerns , which is especially important in an era of growing awareness about data protection.
Synthetic data

Source: Datagen (

Which companies benefit the most from synthetic data?

Synthetic data is used in many industries, but it can be especially beneficial for companies that need sensitive, dangerous, or rare data. This can include data for:

  • healthcare providers – enable the protection of patient privacy and enhance clinical research capabilities,
  • manufacturers of autonomous vehicles – allow for the safe and secure testing of technologies under controlled conditions,
  • financial sector – support fraud detection and market behavior analysis,

However, before you decide whether using it will benefit your company, carefully evaluate your needs. Ask yourself which types of data are critical to your business. Will it be images, structured data, or perhaps time series?

Also, evaluate the platform’s intuitiveness in terms of who will be using it on a daily basis, as well as the platform’s ability to integrate with your current systems. Make sure the provider has robust privacy practices that comply with industry regulations, and that the platform’s terms and conditions are compliant with emerging AI regulations.

Which provider to choose?

The choice of synthetic data provider depends primarily on the type of data the company needs. Among the most popular options, it is worth considering the following suggestions:

  1. Mostly AI ( Its main advantage is an easy-to-use platform that does not require advanced technical knowledge. It provides highly customizable synthetic data, including structured (tabular) data, images, video, and time series. It specializes in generating realistic data that protects user privacy and reduces bias in data sets. AI is most commonly used in the financial sector, retail, and software development companies.
  2. Gretel ( Gretel, on the other hand, focuses on structured and textual data, offering tools that easily integrate with existing systems. Their main advantage is privacy protection, which is applicable in finance or healthcare, where anonymity of data is a priority.
  3. Datagen (, specializing in 3D data, it offers photorealistic models of people. Their technology is used in the retail sector, in medical simulations, and the development of human-computer interaction using advanced AR and VR applications. Its main advantages are photorealistic results useful for simulating human interaction and developing augmented reality (AR) or virtual reality (VR) applications.
Synthetic data

Źródło: Mostly AI (


Synthetic data opens up new opportunities for companies, letting them optimize processes, increase competitiveness and accelerate innovation. Its use allows them to explore new areas without compromising privacy and security. Therefore, it is worth considering the implementation of synthetic data in your business strategy to take advantage of its potential and benefits. We encourage you to learn more about synthetic data and how you can use it to grow your business.

Synthetic data

If you like our content, join our busy bees community on Facebook, Twitter, LinkedIn, Instagram, YouTube, Pinterest, TikTok.

Synthetic data and its importance for the development of your business | AI in business #101 robert whitney avatar 1background

Author: Robert Whitney

JavaScript expert and instructor who coaches IT departments. His main goal is to up-level team productivity by teaching others how to effectively cooperate while coding.

AI in business:

  1. Threats and opportunities of AI in business (part 1)
  2. Threats and opportunities of AI in business (part 2)
  3. AI applications in business - overview
  4. AI-assisted text chatbots
  5. Business NLP today and tomorrow
  6. The role of AI in business decision-making
  7. Scheduling social media posts. How can AI help?
  8. Automated social media posts
  9. New services and products operating with AI
  10. What are the weaknesses of my business idea? A brainstorming session with ChatGPT
  11. Using ChatGPT in business
  12. Synthetic actors. Top 3 AI video generators
  13. 3 useful AI graphic design tools. Generative AI in business
  14. 3 awesome AI writers you must try out today
  15. Exploring the power of AI in music creation
  16. Navigating new business opportunities with ChatGPT-4
  17. AI tools for the manager
  18. 6 awesome ChatGTP plugins that will make your life easier
  19. 3 grafików AI. Generatywna sztuczna inteligencja dla biznesu
  20. What is the future of AI according to McKinsey Global Institute?
  21. Artificial intelligence in business - Introduction
  22. What is NLP, or natural language processing in business
  23. Automatic document processing
  24. Google Translate vs DeepL. 5 applications of machine translation for business
  25. The operation and business applications of voicebots
  26. Virtual assistant technology, or how to talk to AI?
  27. What is Business Intelligence?
  28. Will artificial intelligence replace business analysts?
  29. How can artificial intelligence help with BPM?
  30. AI and social media – what do they say about us?
  31. Artificial intelligence in content management
  32. Creative AI of today and tomorrow
  33. Multimodal AI and its applications in business
  34. New interactions. How is AI changing the way we operate devices?
  35. RPA and APIs in a digital company
  36. The future job market and upcoming professions
  37. AI in EdTech. 3 examples of companies that used the potential of artificial intelligence
  38. Artificial intelligence and the environment. 3 AI solutions to help you build a sustainable business
  39. AI content detectors. Are they worth it?
  40. ChatGPT vs Bard vs Bing. Which AI chatbot is leading the race?
  41. Is chatbot AI a competitor to Google search?
  42. Effective ChatGPT Prompts for HR and Recruitment
  43. Prompt engineering. What does a prompt engineer do?
  44. AI Mockup generator. Top 4 tools
  45. AI and what else? Top technology trends for business in 2024
  46. AI and business ethics. Why you should invest in ethical solutions
  47. Meta AI. What should you know about Facebook and Instagram's AI-supported features?
  48. AI regulation. What do you need to know as an entrepreneur?
  49. 5 new uses of AI in business
  50. AI products and projects - how are they different from others?
  51. AI-assisted process automation. Where to start?
  52. How do you match an AI solution to a business problem?
  53. AI as an expert on your team
  54. AI team vs. division of roles
  55. How to choose a career field in AI?
  56. Is it always worth it to add artificial intelligence to the product development process?
  57. AI in HR: How recruitment automation affects HR and team development
  58. 6 most interesting AI tools in 2023
  59. 6 biggest business mishaps caused by AI
  60. What is the company's AI maturity analysis?
  61. AI for B2B personalization
  62. ChatGPT use cases. 18 examples of how to improve your business with ChatGPT in 2024
  63. Microlearning. A quick way to get new skills
  64. The most interesting AI implementations in companies in 2024
  65. What do artificial intelligence specialists do?
  66. What challenges does the AI project bring?
  67. Top 8 AI tools for business in 2024
  68. AI in CRM. What does AI change in CRM tools?
  69. The UE AI Act. How does Europe regulate the use of artificial intelligence
  70. Sora. How will realistic videos from OpenAI change business?
  71. Top 7 AI website builders
  72. No-code tools and AI innovations
  73. How much does using AI increase the productivity of your team?
  74. How to use ChatGTP for market research?
  75. How to broaden the reach of your AI marketing campaign?
  76. "We are all developers". How can citizen developers help your company?
  77. AI in transportation and logistics
  78. What business pain points can AI fix?
  79. Artificial intelligence in the media
  80. AI in banking and finance. Stripe, Monzo, and Grab
  81. AI in the travel industry
  82. How AI is fostering the birth of new technologies
  83. The revolution of AI in social media
  84. AI in e-commerce. Overview of global leaders
  85. Top 4 AI image creation tools
  86. Top 5 AI tools for data analysis
  87. AI strategy in your company - how to build it?
  88. Best AI courses – 6 awesome recommendations
  89. Optimizing social media listening with AI tools
  90. IoT + AI, or how to reduce energy costs in a company
  91. AI in logistics. 5 best tools
  92. GPT Store – an overview of the most interesting GPTs for business
  93. LLM, GPT, RAG... What do AI acronyms mean?
  94. AI robots – the future or present of business?
  95. What is the cost of implementing AI in a company?
  96. How can AI help in a freelancer’s career?
  97. Automating work and increasing productivity. A guide to AI for freelancers
  98. AI for startups – best tools
  99. Building a website with AI
  100. OpenAI, Midjourney, Anthropic, Hugging Face. Who is who in the world of AI?
  101. Eleven Labs and what else? The most promising AI startups
  102. Synthetic data and its importance for the development of your business
  103. Top AI search engines. Where to look for AI tools?
  104. Video AI. The latest AI video generators
  105. AI for managers. How AI can make your job easier
  106. What’s new in Google Gemini? Everything you need to know
  107. AI in Poland. Companies, meetings, and conferences
  108. AI calendar. How to optimize your time in a company?
  109. AI and the future of work. How to prepare your business for change?
  110. AI voice cloning for business. How to create personalized voice messages with AI?
  111. Fact-checking and AI hallucinations
  112. AI in recruitment – developing recruitment materials step-by-step
  113. Midjourney v6. Innovations in AI image generation
  114. AI in SMEs. How can SMEs compete with giants using AI?
  115. How is AI changing influencer marketing?
  116. Is AI really a threat to developers? Devin and Microsoft AutoDev
  117. AI chatbots for e-commerce. Case studies
  118. Best AI chatbots for ecommerce. Platforms
  119. How to stay on top of what's going on in the AI world?
  120. Taming AI. How to take the first steps to apply AI in your business?
  121. Perplexity, Bing Copilot, or Comparing AI search engines
  122. ReALM. A groundbreaking language model from Apple?
  123. AI experts in Poland
  124. Google Genie — a generative AI model that creates fully interactive worlds from images
  125. Automation or augmentation? Two approaches to AI in a company
  126. LLMOps, or how to effectively manage language models in an organization
  127. AI video generation. New horizons in video content production for businesses
  128. Best AI transcription tools. How to transform long recordings into concise summaries?
  129. Sentiment analysis with AI. How does it help drive change in business?
  130. The role of AI in content moderation