Dataset distillation is the task of synthesizing a small dataset such that models trained on it achieve high performance on the original large dataset. A dataset distillation algorithm takes as input a large real dataset to be distilled (training set), and outputs a small synthetic distilled dataset, which is evaluated via testing models trained on this distilled dataset on a separate real dataset (validation/test set). A good small distilled dataset is not only useful in dataset understanding, but has various applications (e.g., continual learning, privacy, neural architecture search, etc.).
Kernel Inducing Points, or KIP, is a meta-learning algorithm for learning datasets that can mitigate the challenges which occur for naturally occurring datasets without a significant sacrifice in performance. KIP uses kernel-ridge regression to learn $\epsilon$-approximate datasets. It can be regarded as an adaption of the inducing point method for Gaussian processes to the case of Kernel Ridge Regression.