LONDON, Feb. 20, 2024 /PRNewswire/ --
Synthesized Ltd, a leading data generation and provisioning
platform, which provides engineering teams a quick way to create
and share production-like test and training data through advanced
machine learning and automation, announced today that UBS Next, the
group's venture and innovation unit, is investing in its next phase
of growth.
Synthesized has a unique, AI-driven, code-centric approach to
populating database environments with production-like test data.
This method is not just timely but essential, as it aligns with the
growing need for efficient and secure data management in a rapidly
evolving digital landscape.
Synthesized's innovative approach allows for the creation of
high-quality, privacy-preserving data, ensuring better software
releases, quicker development times, and reduced data privacy
risks. Clients of Synthesized, including leading global banks,
financial institutions, insurance companies, healthcare firms, and
government entities, benefit from these capabilities in solving
their data access and provisioning challenges.
Synthesized enables engineering teams to have:
- Faster development cycles - completely removes test
databases and provisions time delays from the software development
lifecycle, leading to faster time to market and increasing
developer productivity.
- Cloud adoption strategies - optimizes cloud spend,
reduces data storage costs for non-production environments, and
provides compliant datasets for migration to the cloud.
- Improved application quality - catches software bugs
earlier when defects are less costly to address, while
simultaneously improving application end user experiences.
- Compliant experimentation and innovation - reduces
vendor onboarding time and data approval time for POCs,
guaranteeing 0% production data leakage risk.
Dr. Nicolai Baldin,
Founder and CEO at Synthesized said: "AI-based and more traditional
software applications are only as good as the data used in their
development and testing. This UBS Next investment will enable
Synthesized to grow and evolve our mission of providing
high-quality, privacy-preserving training and test data for
application development, AI/ML, and analytics. We are excited to
solidify our partnership with UBS on our mission."
Dr. Christopher Purves,
Co-Head of Group Emerging Technology and Global Head of IB Digital
Platforms at UBS, added: "The market opportunity for Synthesized is
vast and growing. As companies increasingly rely on data for
application development and AI/machine learning initiatives, the
need for efficient, secure, and compliant production-like test data
becomes paramount. Synthesized stands out by enabling software
engineers to provision high-quality data on demand. It is intuitive
as writing code and is a pioneering approach in the industry."
About Synthesized
Synthesized is on a mission to make the creation and access of
high-quality data fast and easy. Synthesized pioneered the
first API-driven data generation and provisioning platform
that creates test data, often better than production data — in
minutes. QA and ML teams can now easily create, validate, and
safely share high-quality data for software testing, model
training, and analysis without requiring complex code or
configurations. Synthesized has been recognized for data generation
innovation as a British Data Awards Finalist: AI Company of the
Year and Computing AI, Machine Learning Awards: Most Innovative AI
Solution, and has been named a Gartner Cool Vendor. For more
information, visit synthesized.io.
About UBS
UBS is a leading and truly global wealth manager and the leading
universal bank in Switzerland. It
also provides diversified asset management solutions and focused
investment banking capabilities. With the acquisition of Credit
Suisse, UBS manages USD 5.7 trillion
of invested assets as per fourth quarter 2023. UBS helps clients
achieve their financial goals through personalized advice,
solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in
more than 50 countries around the globe. UBS Group shares are
listed on the SIX Swiss Exchange and the New York Stock Exchange
(NYSE).
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