Today, information is probably the most significant commodity there is. Companies all over the world make money with it, but it’s only valuable so far as it’s secure. Currently, there are plenty of security threats out there.
Legislators in Europe and the US have recognized the threat, but compliance is costing companies quite a bit of money. To address this issue, a Portuguese start-up called YData aims to help secure data while staying compliant with GDPR and CCPA.
— YData (@YData_ai) May 28, 2020
Data privacy by design
YData is a start-up founded in September of last year. According to the description on its website, the company makes “data available with privacy by design”. Its product, the Synthetic Data Generator, does what it says – it generates synthetic data, via deep learning algorithms, that’s very similar to the original data. This synthetic data can be used for statistical analysis, training Machine Learning modules, AI, and even be sold to third parties.
The product is also designed to ensure the data of users remains private and secure but retains its original statistical properties. So, for example, if you want to implement some AI but have trouble locating specific data and are concerned with privacy risks, YData’s solutions could be of help to you.
Data Scientist @fab_clemente co-founded @YData_ai to make access to data easier and more agile for companies. She discusses #syntheticdata, women in tech and data privacy on @PrivacyPlsPod. https://t.co/YbRuMpuuv4 #WomenInTech pic.twitter.com/mqK99CNwg8
— Spirion (@Spirion) August 27, 2020
The current offerings of YData include a browser app, an API, and an On-Premises solution, all paid for on a subscription basis. If you’re curious about the technical aspects, they’ve provided documentation so you can familiarise yourself with them.
The YData project has received funding from the EU Horizon 2020 research and innovation program. According to Crunchbase, the grant is currently the sole investment. However, given the prevalence of data and privacy issues in our lives today, I expect that the company is going to grow in the near future.
Photo credit: The feature image has been taken by NESA by Makers.
Sources: Fazal Raheman MD (Medium) / YData’s blog / European Data Incubator / Crunchbase / YData’s Business Proposal and Technical Solution provided to EDI.