System and method for generating synthetic datasets

A system for generating one or more synthetic datasets with privacy and utility controls, the system comprising:

• an input/output (IO) interface for receiving at least one dataset and a set of privacy controls to be applied to the at least one dataset;
• at least one privacy controller that receives the set of privacy controls and provides a set of fine-grained privacy and utility controls based on the received privacy controls for the at least one dataset;
• a data modeling engine to learn the analytical relationships of the received at least one dataset and to generate a risk and utility profile of the received at least one dataset;
• a data generation engine to apply learned models in accordance with the provided set of fine-grained privacy and utility controls from the privacy controller to produce one or more synthetic datasets;
• and
• a risk mitigation engine that iteratively targets configured risks within the one or more synthetic datasets and mitigates the targeted risks via modification of the one or more synthetic datasets, and outputs a risk profile for the one or more synthetic datasets,
• wherein the IO interface outputs the one or more synthetic datasets with known privacy and utility characteristics.