Better Together: Combining Privacy Enhancing Technologies (PETs) to Solve Big Data Problems

Corporations in regulated industries often fail to utilize a significant portion of their data due to privacy concerns, as data privacy legislation varies across regions and even within countries. Privacy Enhancing Technologies (PETs) offer a solution by enabling organizations to use sensitive data while maintaining privacy and security through methods like fully homomorphic encryption, multiparty computation, and federated learning. These technologies allow for secure data analysis without exposing raw data, facilitating collaboration on encrypted data while complying with data localization laws. PETs can be combined to enhance data value and protect against data breaches, with applications in fighting fraud, cyber threat intelligence sharing, and genome-wide association studies. By integrating PETs, businesses can maximize data utility without compromising privacy, paving the way for more informed decision-making.