Privacy Enhancing Technologies (PETs) represent a groundbreaking advancement in cryptography, enabling the protection of information even while it is being processed, unlike traditional encryption methods that only secure data during storage or transmission. These innovations are particularly significant for Chief Information Security Officers (CISOs), who are encouraged to view PETs not just as security tools but as business enablers that unlock the potential of sensitive data for collaborative and analytical purposes. PETs facilitate secure data collaboration across various sectors, such as banking and biotech, without compromising personal or proprietary information. Homomorphic Encryption (HE) is highlighted as a particularly versatile PET, essential for CISOs to consider due to its adaptability across diverse use cases. The document stresses the importance of selecting robust PET implementations that are quantum-proof, utilizing industry-supported and peer-reviewed cryptographic algorithms. As businesses transition to an information-based economy, PETs provide a unique opportunity for CISOs to enhance security while driving business innovation and collaboration.