TU Delft spin-off BlueGen.ai has developed a synthetic data platform that generates 100% privacy-safe data, enabling data sharing and collaborations that were previously impossible due to privacy protection. The BlueGen.ai platform is patented and applies mathematical principles to generate privacy-safe synthetic data.
BlueGen.ai, a Delft Enterprises portfolio company, has developed a synthetic data platform that generates anonymised data from real data that can’t be re-engineered to the original privacy-sensitive data. The patented BlueGen.ai platform creates synthetic data that looks and behaves just like the underlying real data, making the data suitable for valuable data analysis previously restricted due to privacy protection.
Great potential
There is great potential: the global synthetic data generation market accumulated 123.3 million dollars in 2021, and market research company Grand View Research expects an annual growth rate of 34.8% from 2022 to 2030, leading to a revenue forecast of 1.79 billion dollars by 2030. Technological research company Gartner predicts that by 2025 synthetic data will reduce personal customer data collection, avoiding 70% of privacy violations sanctions.
BlueGen’s platform acts like a data tap: by applying AI privacy-safe synthetic data is generated which looks and behaves like the real data
‘Better data than real data’
“I’m thrilled about this joint initiative with Delft Enterprises, Technical University Delft, and my fellow co-founders and the funding we get because BlueGen.ai opens up collaborations and opportunities that were impossible until now,” says Iman Alipour, BlueGen.ai co-founder and CEO. “Think of Healthcare where general practitioners have valuable patient data that can contribute to new medicine development. Privacy laws prohibit processing such data, but BlueGen.ai generates synthetic data from actual patient data that can’t be traced back to an individual patient. While preserving the value of the data that helps develop better medicines.”
“Besides secure data, BlueGen.ai also creates better data than real data,” says Lydia Chen, Delft University of Technology associate professor and Technical Advisor at BlueGen.ai. “The ai extension in our company name has true meaning. Because through machine learning, BlueGen.ai can also generate synthetic data that complements incomplete real data. BlueGen.ai is like a data tap that turns real data into useful and safe data.”
Delft Enterprises supports BlueGen.ai in commercialising the synthetic data solution by providing startup funding and engaging business experts and investors. “We saw the potential of Lydia Chen’s research and therefore linked her to Iman Alipour, who has extensive entrepreneurial experience in data-driven companies,” says Paul Althuis, director of Delft Enterprises. “In doing so, we make sure that this promising technology can have a real impact in society.”
Are you curious to read and learn more? In this article BlueGen.ai’s technology is explained further.
