Ipsos explores synthetic data’s potential and risks, stressing that it’s “math, not magic” and must combine AI with human expertise. Benefits include speed, cost-efficiency, flexibility, and scenario modeling, but dangers range from bias, inaccuracy, and mediocrity to legal and reputational harm. Ipsos’ Truth, Transparency, Trust framework ensures validity. Use cases span data augmentation, imputation, GenAI agents, and full synthetic datasets, with risk levels per the EU AI Act. Success depends on expert partners, high-quality real data, rigorous validation, and responsible, ethical use.

Join for free to read