Synthetic data is information that is artificially manufactured and not actually created by real-world activities and events. That’s important because developing AI and ML (machine learning) projects require immense amounts of data. However, real-world data can be expensive and difficult to collect.
MOSTLY AI uses artificial intelligence to achieve a high degree of fidelity to its clients’ databases. Its data sets look just as real as a company’s original customer data with just as many details, but without the original personal data points. Unlike some of its competitors, MOSTLY AI hasn’t put its focus on healthcare, instead winning clients amongst Fortune 100 companies and major Telcos.
The startup is focused on international hires and geographic expansion, especially in the U.S. To do so, it is expanding its team there significantly and leveraging the connections of its latest investor - the venture arm of American Bank, CitiGroup.
While a nascent space, synthetic data has recently attracted the attention of investors and as a result MOSTLY is competing with some impressive players like Datagen and Gretel.ai. However its chief concern will be the entrance of the big tech firms like NVIDIA. MOSTLY’s expert team, with good product-market fit, will still be confident that they have the tools to win this market.
Kirsty
Company Specialist at Welcome to the Jungle