Does Synthetic Data Hold The Secret To Artificial Intelligence?

Could synthetic data be the solution to rapidly train artificial intelligence (AI) algorithms? There are advantages and disadvantages to synthetic data; however, many technology experts believe that synthetic data is the key to democratizing machine learning and to accelerate testing and adoption of artificial intelligence algorithms into our daily lives. When a computer artificially manufactures data rather than measures and collects it from real-world situations it's called synthetic data. The data is anonymized and created based on the user-specified parameters so that it's as close as possible to the properties of data from real-world scenarios. One way to create synthetic data is to use real-world data but strip the identifying aspects such as names, emails, social security numbers and addresses from the data set so that it is anonymized.