SAS, a global data and AI (artificial intelligence) company, has acquired the software assets of Hazy, a synthetic data technology company. The acquisition aims to enhance SAS’ AI and data management portfolio by equipping businesses with synthetic data generation capabilities to address the growing demand for AI solutions.
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Synthetic Data Powers AI and Analytics
"This move positions SAS at the forefront of data innovation, enabling more robust and secure AI applications, with future integration opportunities with SAS Viya. By integrating Hazy's synthetic data capabilities, SAS will empower customers to innovate and conduct deep research, overcoming challenges related to data availability, access or quality," SAS said in a release this week.
"Our acquisition of Hazy's IP represents a pivotal step in our commitment to innovation in the next generation of data management and AI," said Jim Goodnight, CEO of SAS. "Hazy is a pioneer in bringing synthetic data to market as a viable enterprise product, and analysts rank it among the top software providers in its category. By integrating their technology, we can offer our customers unparalleled opportunities to harness data safely and effectively, enabling them to experiment and model scenarios that were previously out of reach and gain a competitive advantage."
Synthetic Data Adoption by 2026
According to the SAS, Synthetic data, which mirrors the statistical patterns of real data without exposing private, identifiable or restricted information, mitigates risks associated with real data and enhances the scope of data available for analytics and AI.
Bryan Harris, Chief Technology Officer of SAS, added, "Analysts predict that by 2026, 75 percent of businesses will use generative AI to create synthetic customer data, up from less than 5 percent in 2023. For SAS customers, this marks a strategic leap, solidifying SAS' leadership in AI and analytics. With synthetic data, customers can innovate and research more deeply, accessing data that was previously out of reach due to availability, access or quality issues."
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SAS Data Maker to Address Data Challenges
SAS noted that integrating Hazy's technology builds on its earlier announcement of SAS Data Maker in early 2024. SAS Data Maker addresses data challenges by generating synthetic data that statistically represents original data sets without compromising privacy, while simplifying processes and reducing resource use.
The integration of Hazy's technology into SAS Data Maker will enable businesses to innovate faster, save costs, and develop trustworthy AI systems. SAS says the enhanced data solutions resulting from this acquisition will be available globally, with an initial preview expected in early 2025.
What is Synthetic Data?
Synthetic data is artificially generated data that mimics real-world data. It is created using algorithms to replicate the statistical properties and patterns of real data without containing any actual personal information.
