Homomorphic encryption is a form of cryptography that allows for operations on encrypted content to yield the same results (though encrypted) as if applied to plain text input.
Basically, the framework takes algorithms implemented in C++ into a virtual boolean circuit that operates on encrypted data. This means you can run your database, AI training, page ranking, etc. on encrypted data for a truly end-to-end encrypted processing or computation on untrusted devices or environments (cloud computing!).
This comes at a price, though, as the virtual circuit is basically a software interpreter for your original algorithm and thus is abysmally slow compared to the original code...
At least that's my understanding of the system.