137 - Unlocking the Power of Synthetic Data: Samuel Cohen on Transforming Market Research

Greenbook Podcast

In this episode of the Greenbook Podcast, Lenny Murphy sits down with Samuel Cohen, CEO and co-founder of FairGen, to explore the transformative potential of synthetic data in market research. Samuel shares his journey from pursuing a PhD in AI and synthetic data at UCL to founding FairGen and revolutionizing data quality for hard-to-reach audiences.

The conversation delves into the critical distinction between augmentation and replacement in synthetic data, how FairGen’s approach addresses data scarcity and enhances insights, and the opportunities and risks of this emerging technology. Whether you're curious about the future of synthetic sampling or the implications for consumer insights, this episode is packed with forward-thinking ideas.

Key Discussion Points:

• Samuel’s Background: From a PhD at UCL to leading FairGen and addressing data quality challenges in market research.
• FairGen’s Mission: Improving insights by using synthetic data to augment sample size for hard-to-reach populations and niches.
• Synthetic Data Explained: Understanding the two families of synthetic data approaches: LLM-based and high-quality survey-trained models.
• Real-World Applications: How synthetic sampling boosts trackers for CPG brands and its potential use in public policy and political polling.
• Navigating Risks: The importance of guidelines, transparency, and collaboration to ensure proper use of synthetic data technologies.
• Future of Research: Why synthetic sampling is here to stay and how it’s shaping the future of consumer insights and decision-making.

Resources/Links:

• FairGen Website: fairgen.ai
• GRIT Report: Explore Key Insights

You can reach out to Samuel on LinkedIn.

Many thanks to Samuel Cohen for joining the show. Thanks also to our production team and our editor at Big Bad Audio.