Start With Value: A Pragmatic Guide to Launching PETs Projects

Privacy-Enhancing Technologies (PETs) often face challenges in gaining business traction, not due to mathematical flaws, but because they are perceived as complex alternatives to existing privacy management methods. The key to successfully implementing PETs lies in shifting the focus from privacy to business value, as demonstrated by Antigoni Polychroniadou of J.P.Morgan, who emphasizes that PETs can enhance data quality and participation by providing mathematical guarantees that reduce reliance on trusted intermediaries. PETs should be positioned as either enablers of new processes or displacers of existing ones, with the business case highlighting tangible outcomes such as revenue enablement, improved participation, and risk reduction. A compelling example is the use of PETs in cross-bank credit risk modeling, where institutions can collaboratively improve model accuracy without exposing sensitive data, resulting in better capital allocation and reduced compliance risks. Ultimately, PETs projects succeed when they are framed as strategies for unlocking business value, rather than merely privacy upgrades, by demonstrating undeniable business benefits that justify investment in the technology.