# Synthetic Data

[Data is the new oil](https://www.economist.com/leaders/2017/05/06/the-worlds-most-valuable-resource-is-no-longer-oil-but-data).  The aphorism is a bit cliche but it is true that the tech giants have benefited disproportionately from AI which is due in no small part to the amount of data they collect.

![Source: The Economist](/files/-LwQ_Nnp-Qmz70Q70KwG)

Companies that are not Google, Facebook, Amazon et al. often do not have enough data to train models accurately -- especially in the case of training deep neural networks that require more data than classical machine learning algorithms. &#x20;

Creation of fake data, called synthetic data, is one way of overcoming the lack of data.&#x20; This burgeoning technique can be used to generate all kinds of datasets including images, audio files, and more.  This is often proceeded by [transfer learning](/wiki/transfer-learning.md) during which models are deployed to similar problems where there may be substantial developmental overlap, thus reducing time and effort when compared to starting from scratch.


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