Lucy Payton 
Tonic.ai provides synthetic data solutions that can create realistic datasets with minimized risks of privacy violation. In addition, synthetic data provides an avenue to generate a massive dataset without compromising the integrity of sources. By enabling rich datasets, companies increasingly leverage synthetic data to train AI models in diverse fields ranging from medical imaging to automated code generation.
Synthetic data solutions such as Tonic.ai can also be used in applications such as computer vision-based models for object detection in the retail sector or medical imagery analysis such as analyzing x-rays and CT scans in combination with facial recognition and pathologic image processing. Additionally, artificial intelligence technologies powered by machine learning techniques can use simulation generated by Tonic.ai’s synthetic data engines for more efficient fraud recognition systems or financial forecasting models.
Finally, simulating customer behavior on synthetic datasets enables companies to gain insights into user preferences and feedback and generate personalized customer recommendations.
What is Tonic.ai?
Tonic.ai is a startup company that provides software and supply chain solutions to help customers create, analyze, and exploit synthetic data for product development and marketing applications. It offers perspectives into large-scale market trends for businesses, with the capability to measure real-time customer preferences and behaviors.
Synthetic data is an important part of many businesses’ product development processes. It allows them to quickly test the viability of new products or features before conducting expensive market trials. Tonic.ai makes this process easier by providing customers access to synthetic data sources.
In addition to providing access to a large library of synthetic data, Tonic.ai offers various customization options that make it suitable for multiple use cases. This includes the ability to customize data sets based on particular characteristics such as age, gender, geography and more, further enhancing its potential applications in numerous fields such as marketing research, advertising optimization and predictive analytics.
Moreover, business stakeholders can also use Tonic.ai’s insights when making decisions about their product or services offerings allowing them to monitor their performance against competitors in real time even without requiring any third-party services like surveys or focus groups which can be expensive activities to undertake otherwise.
Benefits of Tonic.ai
Tonic.ai, which taps AI to generate synthetic tabular data, has recently raised $35M. Generating synthetic datasets is a great boon for organizations looking to protect customer data privacy and comply with data regulations.
This technology can also provide artificial data to train machine learning models without sacrificing the customer’s privacy.
This article will discuss the potential applications of Tonic.ai’s synthetic data.
Cost savings
Tonic.ai’s synthetic data solutions have the potential to offer huge cost savings to businesses. The company’s tools can be used to train existing artificial intelligence and machine learning systems and take the initial step of building a system’s data set. This eliminates the need to collect and clean large volumes of real-world data—saving time on staff costs, hardware resources and more.
Additionally, Tonic.ai’s platform allows users to control how large or small a data set they want created—allowing them to allocate their resources according to their needs. With its easy-to-use interface and streamlined workflow, customers find that they can create exactly what they need without having costly returns due to lack of accuracy with the data.
Tonic.ai offers great cost savings even with its initial pricing model—as companies can select from various ‘cost per unit’ levels that allows them to pay only for the amount of synthetic data needed at any given time. This eliminates overspending on larger runs that could not benefit their business model. This offers direct cost savings and provides a more tailored approach when developing new AI models or enhancing existing ones, ensuring scalability for future growth and success with their projects.
Time savings
Tonic.ai’s synthetic data helps companies, such as autonomous vehicle manufacturers, develop and improve automated systems and models without needing costly and time-consuming data collection from real-world sources. In addition, this significantly reduces the time needed to develop and test these systems and models.
It also provides higher accuracy than traditional methods of collecting real-world data. Tonic.ai’s synthetic datasets are more consistent than their real-world counterparts and contain no outliers or unexpected behavior caused by natural variations in physical conditions (weather, terrain, etc). Furthermore, the datasets are entirely customizable with as many variations as desired for specific tests/experiments/models. It does this using a combination of deep learning algorithms, generative models, predictive analytics technologies, advanced physics engines and proprietary microsimulation tools that can be tailored to capture any desired scenario or condition needed during testing/experimentation/development.
Finally, utilizing Tonic.ai’s synthetic datasets eliminates the need to obtain consent or permission from people or organizations whose data is being used while still accurately ensuring privacy compliance in a cost effective manner. This is especially true when dealing with sensitive personal data such as financial or medical information which further adds to existing privacy laws around data collection and storage protection protocols enforced within industries like healthcare or automotive development/production lines dealing with autonomous vehicles during early product stages when prototyping takes place before production rollout for commercial use.
Improved data quality
Tonic.ai provides a cutting-edge tool that allows organizations to create customized synthetic datasets for training, exploring and evaluating machine learning models. This can improve the data quality as it is mass-produced within a few weeks and gives you access to more precise data than any manual process could ever produce. In addition, synthetic data is cleaner, meaning there are no duplications or missing values, allowing algorithms to work on larger, more precise datasets.
In addition, the AI-powered software allows control over what types of data are generated meaning you can create datasets with specific characteristics related to your industry or needs. As a result, Tonic.ai provides organizations with an artificial intelligence-driven alternative to costly and slow traditional data enrichment processes which are commonly used in today’s technology landscape.
By leveraging advanced deep learning models, users can quickly generate highly accurate synthetic datasets to train their models in a fraction of time compared with traditional methods and achieve greater accuracy and reliability during production testing cycles.
Tonic.ai, which taps AI to generate synthetic tabular data, raises $35M
Tonic.ai, a company that taps artificial intelligence (AI) to generate synthetic tabular data, has recently raised $35M in a Series B funding round.
With the advent of AI-generated synthetic data, the possibilities for a wide range of application scenarios are far-reaching. This article will explore the potential applications of Tonic.ai’s synthetic data.
Automotive Industry
The automotive industry is adapting to changes in technologies, markets and consumer demands faster than ever. As a result, OEMs, suppliers and other automotive parts companies need relevant, accurate and highly detailed data to stay ahead of the competition. With Tonic.ai’s synthetic data technology, these companies can generate abundant reliable data to support decisions in product designs, production processes and even marketing practices.
With Tonic’s technology, required data sets can be efficiently generated quickly so that companies can make decisions with precision and confidence about every aspect of the automotive industry – van designs & physical characteristics such as color & shape of a vehicle’s exterior to even fuel capabilities & automatic driving systems. In addition, the synthesis process is regularly updated with real-world conditions such as traffic information so that the accuracy and reliability of the data sets remain consistently up-to-date and accurate. All this without relying on numerous expensive test drives or depending upon vast amounts of manual labor.
Additionally, using synthetic datasets created by Tonic can also help automakers assess potential risks associated with their products more accurately when exposed to different driving scenarios or state rule changes quickly & cost effectively while placing less stress on IoT devices used externally during tests such as autonomous vehicles or connected cars which helps companies save time & resources in product development cycle times.
Tonic’s synthetic data technology has already provided valuable insights for many major automakers and suppliers worldwide which has helped streamline operations for designing new vehicles and improve customer satisfaction levels with existing ones.
Healthcare Industry
The healthcare industry can benefit from synthetic data generated by Tonic.ai in a few key ways, including:
-Increasing the breadth and accuracy of clinical decision support systems and AI models: Synthetic data can help improve decision support systems’ accuracy, scalability, and timeliness. In addition, by creating detailed patient information from scratch, synthetic data can provide more comprehensive datasets for better decision-making.
-Securely sharing de-identified medical records: Synthetic data allows organizations to share de-identified medical records while ensuring individual patient privacy and confidentiality. This will ensure that important healthcare insights are accessible without compromising existing regulations.
-Increasing operational efficiency and reducing costs associated with training machine learning models: By leveraging automation capabilities provided by Tonic.ai’s synthetic data platform, organizations might reduce costs associated with manually curating datasets and time spent on model training tasks.
Additionally, synthetic data may prove useful for enhancing research initiatives, such as improving testing strategies for drug development or simulating scenarios for epidemiology studies related to infectious diseases. Ultimately, utilizing Tonic.ai’s capabilities might help to revolutionize the healthcare industry and lead to unprecedented growth in personalized medicine initiatives across the globe—improving diagnosis abilities while further protecting user privacy at the same time.
Financial Services Industry
The financial services industry has long been a powerhouse of innovation backed by profound amounts of data. Tonic.ai’s synthetic data can empower financial institutions to efficiently and securely scale their operations with enhanced capabilities. In addition, Tonic.ai’s synthetic data can improve credit determinations, fraud detection, anti-money laundering, and KYC processes in the Financial Services industry
Synthetic customer records can be generated by simulating customer profiles and behavior based on real-world distributions from public sources or private customer databases. This enables financial institutions to generate thousands of artificial data points – large training samples for any machine learning task(s). Banking organizations use these simulated records for predictive modeling, experimentation, A/B testing, training machine learning models, prototyping applications and validating backend processes.
The applicability of synthetic data in the finance sector is not just limited to developing or supplementing existing datasets but also enables companies to fulfill crucial compliance requirements such as BSA/AML CTF (Bank Secrecy Act/Anti-Money Laundering Customer Due Diligence), CCAR (Comprehensive Capital Analysis and Review) & DFAST (Dodd-Frank Stress Testing). In addition, synthetic data offers a fast-track way to add control scenarios with no risk to the real customers’ sensitive information while still allowing fine-grained analytics on all customer functions at scale and leveraging advanced AI technologies like pattern recognition & predictive analytics into the process workflow.
Conclusion
In conclusion, Tonic.ai’s synthetic data can be used by businesses of any size to improve their ability to quickly develop and deploy applications and AI models without relying on large amounts of expensive, real-world data. It offers a cost effective alternative that lets businesses generate more accurate models, gain access to insights about customer behavior, reduce time-to-market for products and services, and protect customer privacy.
Synthetic data is a promising topic with many potential applications, but further research is needed before it becomes mainstream.
tags = Tonic.ai, company that mimics production data with fake data, machine learning, tonic.ai 35m insight partners 45mwiggersventurebeat
