Anonos, a global leader in data privacy, security, and enablement, has received recognition in the 2023 Gartner Emerging Tech Impact Radar: Artificial Intelligence in Insurance report for its synthetic tabular data capabilities. The report, which analyzes emerging technologies and trends in AI-enabled products and services in the insurance sector, highlights the importance of AI in solving immediate challenges faced by insurers, such as automation of manual tasks, faster identification of claims fraud, and digital channel interactions.
According to Gartner, AI has the potential to drive strategic transformation in the insurance industry, including new product innovation, dynamic customer engagement, and panoptic personalization. One of the emerging technologies highlighted in the report is synthetic tabular data, which refers to artificially generated data that replaces sensitive original data. Gartner predicts that by 2024, synthetic data generation capability will be a standard feature in most machine learning and analytics platforms.
Synthetic tabular data offers several advantages, including bridging data silos, ensuring privacy and regulatory compliance, and addressing challenges like data scarcity and bias. In the insurance sector, synthetic data can help overcome issues related to fragmented datasets and enhance model training and analytics projects.
The report recognizes Anonos as a Sample Vendor, showcasing how synthetic tabular data can transform data projects in the insurance industry. Mark Little, Chief Data Strategist & Head of Engineering at Anonos, believes that synthetic data holds enormous potential for business outcomes in the insurance industry. Anonos has already implemented synthetic data in collaboration with large insurance companies like Provinzial and Die Mobiliar, demonstrating their commitment to data-driven innovation and responsible data use.
It’s important to note that Gartner does not endorse any specific vendor, product, or service mentioned in its research publications. The opinions expressed in these publications are solely those of Gartner’s research organization.
Anonos is a data privacy and security innovator that provides enterprise software to mitigate risk and maximize data utility and value. Their patented Data Embassy platform uses cutting-edge data privacy tools to transform sensitive data into non-identifiable variations known as Variant Twins. These Variant Twins are engineered for specific use cases while maintaining up to 100% accuracy. With precise technical controls embedded within them, Variant Twins can be securely shared across departments, outside the enterprise, and globally. Anonos’ Data Embassy platform offers organizations universal data protection, allowing them to increase cloud utilization, enhance cybersecurity, and power lawful analytics, AI, machine learning, and data sharing initiatives.
In conclusion, Anonos’ recognition in the Gartner report highlights the potential of synthetic tabular data in transforming data projects in the insurance industry. By leveraging synthetic data, insurers can overcome challenges related to privacy concerns, fragmented datasets, and limited access to sensitive data. Anonos’ innovative approach to data privacy and security positions them as a key player in driving data-driven innovation in the insurance sector.