Vienna, Austria/New York, NY– 25 October 2022 – MOSTLY AI, who pioneered the creation of AI-generated synthetic data, will be presenting pertinent research findings on its recently published paper about rule-adhering synthetic data, at the 3rd ACM International Conference of AI in Finance (ICAIF), in New York, on 2-4 November 2022.
“I’m really pleased that our research has struck a chord, and I look forward to sharing how rule-adhering synthetic data is indeed the ‘Lingua Franca’ of learning, at the ICAIF,” says Michael Platzer, Co-founder and Chief Strategy Officer at MOSTLY AI, and lead author of the paper.
In summary, the paper explores how AI-generated synthetic data allows the distillation of general patterns within the existing data, that can then be shared safely as granular-level representative, yet novel data samples within the original semantics. “We explore approaches of incorporating domain expertise into the data synthesis, to have the statistical properties as well as pre-existing domain knowledge of rules, represented. The resulting synthetic data generator, that can be probed for any number of new samples, can then serve as a common source of intelligence, as a lingua franca of learning, consumable by humans and machines alike. We demonstrate the concept for a publicly available data set, and evaluate its benefits via descriptive analysis as well as a downstream ML mode,” explains Platzer.
Specifically, Platzer will be participating in the following workshops at the event: ‘Small Data, Big Opportunities: Making the Most of AI’ and ‘Synthetic Data for AI in Finance’ where he’ll join other industry professionals for a panel discussion.
“Conversations about synthetic data are crucial at this point in time, for businesses committed to both data privacy and innovation,” says Platzer, adding, “The good news is that banks and financial services businesses no longer need to pick one or the other. With privacy-safe AI-generated synthetic data, sharing and collaborating on machine learning models means they can innovate, and build better products and services, like never before. So it’s no wonder that most of the top US banks are already using synthetic data,” concludes Platzer.
If you are interested in attending this event, click here to register.