While encrypted AI chatbots seem within reach, we don’t see them as the primary target today. There is a set of untapped applications, such as inter-bank transfers, industrial use cases, and healthcare; where regulations, privacy laws, and compliance requirements prevent institutions from directly accessing or processing sensitive data.

This is where we believe Belfort can make a real difference: enabling organizations to compute on sensitive data while preserving strong privacy guarantees. And FHE doesn’t necessarily mean relying on Google, AWS, or Azure for encrypted compute. Companies can run FHE on their own infrastructure, allowing them to process their clients’ data privately while maintaining control over their systems and keys.

These applications are our initial focus, and over time, we aim to expand the range of use cases that FHE can unlock.