Introduction to privacy-preserving synthetic data

In a general sense, synthetic data is information that is artificially generated, as opposed to collected from the real-world. But it's important to note that synthetic data is used for a variety of purposes. As a result, there are several types of synthetic data with different properties depending on the use-cases. For instance, one scenario in which companies use synthetic data is the training of AI/ML models. Real-world data is sometimes expensive to collect, or simply hard to come by.