As people spend more and more time online, consumers have demanded more control over their digital privacy. They’ve become particularly uncomfortable with digital tracking technology like third-party cookies that enable marketers to gather information about their browsing behavior. But eliminating third-party cookies puts marketers in a tough spot. Their businesses have relied on cookies to find new customers for over two decades.
Government agencies in the US and Europe have responded to consumer demands by enacting regulations that offer more protection and control to users over how their data is collected and processed. And many of the web browsers have already phased out cookies. Google has been the last hold out and they’re expected to fully phase out cookies by the end of 2024.
But simply eliminating cookies won’t solve the privacy protection problem for consumers. Digital footprints are always expanding and companies need to be more vigilant than ever about protecting their customers’ data. There’s an enormous opportunity to build an ad ecosystem that respects users' privacy more than ever.
Privacy Enhancing Technologies (PETs) have emerged as a crucial ally for safeguarding consumer data. This emerging technology uses advanced cryptographic and statistical techniques to protect consumer information while still allowing marketers to glean valuable insights.
What are PETs?
PETs are a set of tools and methods designed to help organizations maintain digital privacy. They provide a layer of defense against unwanted surveillance, data breaches, and unwarranted data collection by enhancing user control and safeguarding data during its lifecycle. PETs are instrumental in upholding privacy, security, and freedom in the digital realm.
There are several types of PETs being used throughout the digital advertising ecosystem:
- On-Device Learning
- Secure Computation
- Trusted Execution Environment
- Differential Privacy
PETs will play a vital role in creating an advertising ecosystem that is primarily privacy focused. Optable is exploring the use of multiple types of PETs as we build a privacy-safe environment where clients can safely collaborate with their data partners. The following blog series will demystify the complex world of PETs and take a closer look at how advertisers are using them.