The Austrian startup MOSTLY AI takes a stand on the occasion of Global Data Privacy Day tomorrow, January 28th, 2023.
Data Privacy Day on 28 January 2023 - AI-generated synthetic data as an alternative to real data.
Vienna - Jan 27th, 2023 - MOSTLY AI, pioneers in the field of AI-generated structured synthetic data, comments on the occasion of tomorrow's worldwide Data Privacy Day, on the recent data theft and misuse of 9 million Austrians’ registration data: "If the data had been synthesized, it would not have been the real personal data of Austrians that fell into the wrong hands, but synthetic datasets, instead, that do not contain any links back to personal data points." Synthetic data prevents any kind of data protection violation because it is completely anonymous and no individuals can be identified.
"This crime shows very clearly how important it is to handle our data responsibly," says Dr. Tobias Hann, CEO of MOSTLY AI, adding, "Because there is an alternative to using real data, namely AI-generated synthetic data." Synthetic datasets are artificially created datasets based on original datasets. They do not allow any conclusions to be drawn about the original (private and GDPR-protected) data points. Working with them prevents any kind of data breach, as the datasets cannot be traced back to actual private individuals. In a word, synthetic data is the ‘guarantor’ of privacy.
Alternatives to the use of real data
AI-generated synthetic data has been around for some years; it is considered a "state-of-the-art" alternative to real data in the industry. For example, in a recent report by its Joint Research Centre, the EU classified the use of synthetic data as a cost-effective and mature tool that stands for fairness, diversity and inclusion. Market research and consulting firm Gartner predicts that within two or three years, more than 65% of all data will be synthesized. Not surprisingly, by then, it is estimated that 75% of the world's individuals will be under the protection of a data privacy regulation.
"Especially in software testing, for which the stolen reporting data was used, there are always security problems when real data is used. Just so that real data doesn't disappear into the internet or darknet and can be used for fraudulent activities, AI-generated synthetic data has been invented, not least by MOSTLY AI," Hann reports from the field and appeals: "Companies need to take much more responsibility for the personal data entrusted to them - especially now that there are alternatives."
Global pioneer for data protection
MOSTLY AI was founded in Vienna in 2017 and has since established a prominent international market position in the field of AI-generated synthetic data: "In 2017, we were the absolute pioneers; one of the first to develop a platform for synthesizing real data," Hann looks back. Today, there are 30+ providers on the topic. MOSTLY AI was founded in Vienna, made the leap across the Atlantic in 2022 and is currently building up business in the US.