Privacy-enhancing technologies (PETs) are shaping the digital landscape amid growing concerns over privacy breaches. Ant International and Nanyang Technological University (NTU) Singapore are collaborating to conduct breakthrough research to advance digital trust leveraging over the next five years.
Ant will commit S$20 million to its partnership with NTU’s Digital Trust Centre to advance the development of PETs that help enterprises in Singapore and across the region unlock greater value from their data and create more use cases. The development of PETs for artificial intelligence (AI) will enhance digital trust and make AI more reliable. It will also minimise the risk of data leaks, allowing enterprises to share data and gain valuable insights without disclosing confidential information.
Based in NTU, the researchers will have access to real-life use cases from Ant for their projects, which will focus on advancing industry tools and processes for machine learning and secure insights sharing between businesses. This will be achieved through the use of advanced PETs such as zero-knowledge proofs and federated learning. As researchers deepen their expertise in PETs through their projects, the aim is also to develop a team of specialised talents.
The implementation of PETs is set to have a profound impact on various sectors, including healthcare, finance and digital communications.
According to Tan Kiat How, Singapore’s Senior Minister of State in the Ministry of Digital Development and Information, robust data protection is important for Singapore’s digital economy.
“The Ministry of Digital Development and Information has taken steps to strengthen our data ecosystem, including by encouraging the use of privacy-enhancing technologies (PETs). I am glad to see companies collaborating with our Institutes of Higher Learning to develop PETs and nurture data protection talent. Such partnerships help us advance the development and adoption of data protection tools in Singapore and the region,” he said.
“As a global digital payment and financial technology provider, data privacy is a core part of our business as we aim to provide merchants with secure, reliable and seamless solutions. By leveraging NTU’s academic expertise and Ant International’s industry experience, we look forward to advancing the development of privacy-enhancing technologies with new innovations that address real business needs,” said Jerry Yin, Chief Technology Officer of Ant International.
Professor Lam Khin Yong, Vice President (Industry) of NTU Singapore, pointed out that NTU Singapore has built upon and fostered expertise and talent in Trust Technologies through its Digital Trust Centre.
“The collaboration between NTU Singapore and Ant International, a leader in global digital payments and fintech, underscores NTU’s commitment to translating research innovation in the area of privacy enhancing technologies into practical applications. Together, both parties will aim to pioneer innovative solutions that strengthen digital trust and security, empowering businesses to responsibly leverage data for transformative outcomes,” he said.
As data breaches and privacy concerns continue to make headlines, the adoption of PETs offers a viable path forward. By integrating these technologies, enterprises can enhance their data protection measures, thereby boosting consumer confidence and compliance with stringent privacy regulations.
Photo caption: (From left) Professor Lam Kwok Yan (Executive Director of Digital Trust Centre at NTU Singapore), Professor Lam Khin Yong (Vice President (Industry) at NTU Singapore), Tan Kiat How (Senior Minister of State, Ministry of Digital Development and Information), Yang Peng (Chief Executive Officer of Ant International), Jerry Yin (Chief Technology Officer of Ant International) and Dr Duan Pu (Head of Data Algorithm and Technology Department at Ant International)
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