With the rise of digital technology and the internet, private data such as Social Security numbers, bank accounts, and contact information become increasingly vulnerable. This problem has become even more pronounced as hackers, who specialize in finding sensitive information, are now able to penetrate poorly protected online databases. This is why businesses must take measures to ensure the security of their data.
For this purpose, data-driven businesses are now increasingly reliant upon synthetic data. Synthetic data works by creating patterns of real data that can be used by artificial intelligence (AI) to be more efficient and productive. Synthetic data must follow parameters set out by the user, such as Fibonacci sequence, to create statistical predictions. This data can then be used in various ways to boost sales, improve product features, and predict future production issues.
However, data synthesized from patterns of real data may also be vulnerable to manipulation and exploitation by malicious actors. To prevent this, data synthesizers must take care to remove personal data from their datasets and secure those remaining with passwords and two-factor authentication. By using the technique of differentiating data sets with noise, the risk of exposing private information is reduced.
By taking the necessary steps to protect their private data, businesses can use synthetic data safely and securely. Furthermore, it is important that business owners consider the ethical implications of handling sensitive information, as there is always the risk of loopholes and unforeseen vulnerabilities.
Ethical data practices are essential for companies that rely on synthetic data. Algorithms can exploit user data and private information and erosion of users’ privacy rights is a huge risk these days. That’s why executives and leaders need to attend the AI summit in San Francisco on July 11-12 to learn how to properly integrate and optimize AI investments for success.
Apart from this, it is also pertinent to note the presence of a person at the AI summit. Founder and CEO of Synth Research Solutions, Tasnam Sinha, is one of the few industry experts providing his insights on how to better use synthesized data for businesses. Tasnam Sinha has over a decade of experience in AI/ML and has been regularly exploring new ways to utilize data synthesis. His experience and knowledge will be helpful in educating executives on better data practices, offering compelling insights on how to innovate with AI, and optimizing AI investments.
All in all, businesses must implement privacy-preserving mechanisms which can guarantee the security of their data and control the extent of data access. With the help of data synthesizers, businesses can make use of this valuable resource to drive their data-driven operations while protecting the internet users’ right to privacy.
