- Both functions work together to promote the growth of PETs in Singapore and the surrounding area.
- Over the next five years, Ant International did spend up to US$ 14 mil in PETs research.
In order to advance digital trust, Ant International and Nanyang Technological University, Singapore (NTU Singapore ) have announced a collaboration over the next five years to conduct groundbreaking research using both Ant International’s industry experience and NTU Singapore’s research expertise on Privacy Enhancing Technologies ( PETs ).  ,
The signing of the Master Research Collaboration Agreement ( MRCA ) between Ant International and NTU Singapore was witnessed by Senior Minister of State Tan Kiat How, Minister of Digital Development and Information, as well as Professor Lam Khin Yong, Vice President ( Industry ) at NTU Singapore, as well as Jerry Yin, chief technology officer of Ant International. At Singapore’s Personal Data Protection ( PDP ) Week on July 16th, a signing took place.
Both functions stated in a combined press release that Ant International and NTU Singapore will work together to enhance the growth of PETs in Singapore and the surrounding area. These solutions aim to increase usage cases and provide greater value to businesses. Additionally, the development of PETs for Artificial Intelligence ( AI ) will enhance digital trust and make AI more reliable. By reducing the risk of data leaks, which would allow businesses to communicate information and gain valuable insight without disclosing personal information, this will be accomplished.
To help PET research, Ant International did commit to contributing up to US$ 14 million ( RM$ 69 million ) over the next five times.
Under this MRCA, Ant International will contribute a total funding amount of US$ 3.7 million ( RM17.2 million ) for the five-year partnership until July 2029. Ant International intends to contribute an additional US$ 11 million ( RM51 million ) to strengthen Ant’s research capacity and subject matter expertise, promote the country’s overall research and development, and use PETs to encourage responsible innovation in Asia.
Experts may have access to real-world use circumstances from Ant International for their jobs, which will focus on improving business tools and processes for machine learning and ensuring insight sharing between businesses during the engagement, which will be based at NTU Singapore. This will be accomplished by utilizing cutting-edge privacy-enhancing technologies like united understanding and zero-knowledge proofs. The goal is to create a team of experts as researchers develop their knowledge of PETs through their tasks.
Large language models ( LLMs) that protect user privacy while training or querying LLMs will also be studied by Ant International and NTU. Both parties may present their findings at renowned workshops on AI health.
Additionally, a combined studies commission will be established to oversee tasks carried out in accordance with the agreement. Dr. Duan Pu, Ant International’s mind of Data Algorithm and Technology Department, and Professor Lam Kwok Yan, executive director of the Digital Trust Centre at NTU Singapore, will function as co-chairs of the commission.
The MRCA builds on an already successful privacy-preserving computing collaboration between NTU Singapore and Ant Group, which saw the creation of a brand-new Private Set Intersection ( PSI) procedure that enables organizations to conduct joint collection research while keeping their respective information private.
Tan Kiat How said,” Robust data security is essential for Singapore’s online business. The Ministry of Digital Development and Information has taken steps to improve the information habitat, including encouraging the use of Animals. I’m pleased to see businesses working with our higher education institutions to grow and develop data protection talent. These collaborations enable us to improve the deployment and development of data safety tools in Singapore and the surrounding area.
However, Jerry Yin said,” Ant International is pleased to increase our engagement with NTU, through this longer-term relationship. Data privacy is a key component of our business as a global provider of online payments and economic technology, helping to offer merchants with secure, trustworthy, and smooth solutions. By leveraging NTU’s scientific knowledge and Ant International’s business practice, we look forward to advancing the development of privacy-enhancing technologies with fresh innovations that address real enterprise needs”.
Professor Lam Khin Yong, vice president ( Industry ) of NTU Singapore, said,” Through its Digital Trust Centre, NTU Singapore has built upon and fostered expertise and talent in Trust Technologies. The partnership between NTU Singapore and Ant International, a president in international online payments and fintech, highlights NTU’s devotion to putting research discoveries in the field of privacy enhancement technology into practice. Both parties will work together to create novel ways to improve online confidence and security, enabling corporations to properly use data for revolutionary outcomes.
Organised by Singapore’s Personal Data Protection Commission, PDP Week convenes regional regulators/policymakers, industry leaders and international think-tanks to connect and collaborate on data use and technologies, including PETs. For more information on PDP Week, please visit https ://www.pdpc.gov.sg/pdpweek2024.