Synthetic Data Applications in Finance

arXiv:2401.00081v2 Announce Type: replace
Abstract: Synthetic data has made tremendous strides in various commercial settings including finance, healthcare, and virtual reality. We present a broad overview of prototypical applications of synthetic data in the financial sector and in particular provide richer details for a few select ones. These cover a wide variety of data modalities including tabular, time-series, event-series, and unstructured arising from both markets and retail financial applications. Since finance is a highly regulated industry, synthetic data is a …

abstract applications arxiv commercial cs.lg data data applications finance financial financial sector healthcare overview q-fin.gn reality sector synthetic synthetic data type virtual virtual reality