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Stock impact report

Synthetic Data's Impact On AI [Forbes]

Elevance Health, Inc. (ELV) 
Company Research Source: Forbes
One important fact that business leaders of today are well aware of is that “data” is the glue holding this digital ecosystem together. Yet, data presents the biggest hurdle for many companies in making progress on their products. Access to high-quality, usable data remains elusive for effective AI adoption. Companies struggle with the high cost of acquiring and labeling datasets, regulatory restrictions and privacy concerns, which slow down AI innovation. Synthetic data—artificially generated datasets that mimic real-world data—offers a fast, secure and cost-effective approach. Healthcare and insurance companies like Anthem Inc. train fraud detection models and AI-driven healthcare solutions while maintaining HIPAA compliance. Autonomous vehicle operator Waymo and others use synthetic driving simulations to train AI for dangerous or rare scenarios. Banks generate synthetic transaction data to train fraud detection models without exposing real customer data. However, synthetic da Show less Read more
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