As Saudi Arabia continues its ambitious transformation under Vision 2030, the ability to adapt, overcome challenges and thrive in the face of adversity has never been more important.
According to estimates from Statista's Market Insights, the global cost of cybercrime is expected to rise over the next four years, rising from SR34.5 trillion in 2024 to SR51 .82 trillion by 2028.
Cybercrime is defined as “damage and destruction of data, stolen money, lost products, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, disruption after an attack by normal business, forensic analysis, restoration and deletion of hacked data and systems and reputational damage. Cyber attacks are increasingly sophisticated, frequent and destructive, targeting critical infrastructure, sensitive data and organizational operations. Traditional cyber security measures, which focus mainly on security, are not enough to combat these dynamic threats.
Organizations face challenges from digital transformation, the rise of connected devices and sophisticated cyber attacks. This has created a huge need for a robust cybersecurity approach.
Hyper-resilient cybersecurity refers to the concept of building cyber systems and networks that are resilient — not just resistant to and recovering from attacks, but actually becoming more resilient and capable of responding to threats.
With advances in technologies such as AI, IIoT and the hybrid cloud, Saudi Arabia is facing new cybersecurity challenges, highlighting the critical need for resilient cyber security measures to protect its digital infrastructure. and the economic interests of the country.
Saudi Arabia, through Vision 2030 and various cyber security initiatives such as the establishment of the National Cybersecurity Authority, is at the forefront of this initiative, improving cyber security and digital preparedness to to protect the growing digital economy and infrastructure.
The State ranks first in the world in the Cybersecurity Index and second in the world in the Digital Transformation Index and the Technology Development and Application Index according to the Global Competitiveness Yearbook 2024 report published by IMD.
The use of suitable digital platforms such as Absher, Qiwa, Nusuk, and many others, for public services is one of the reasons for the acceptance of Governments worldwide in the field of cyber. In addition, Saudi Arabia aims to increase the contribution of the digital economy to 19 percent of its GDP by 2030, up from 5.48 percent in 2021.
“In the face of ever-evolving cyber threats, true resilience requires more than robust security. It requires a dynamic and adaptable mindset – one that embraces innovation, anticipates the unexpected, and empowers our people as our first line of defense. Join us as we explore the dynamic cyber frontier, where cybersecurity is not just security, but a strategic advantage that drives Saudi Arabia's digital future,” said Samir Omar, Chief Security Advisor/CEO on Virtuport.
Virtuport's MENA Information Security Conference 2024 is emerging as an important platform to address the evolving cybersecurity landscape. Now in its 12th edition, MENA ISC 2024 will bring together top industry leaders such as Salam, CyberKnight, and Cyber Polygon, visionaries, market creators and experts to discuss the latest challenges of cybersecurity and share new solutions.
“MENA ISC plays a key role in building cybersecurity capabilities in Saudi Arabia, which is a cornerstone in promoting collaboration and innovation among industry leaders. For CyberKnight, this event is a valuable platform to demonstrate our commitment to improving cybersecurity in the region. It allows us to connect with local businesses and government agencies, showcase state-of-the-art solutions and contribute to the Kingdom's Vision 2030 for a secure digital future. Our participation underscores the importance of such meetings in facilitating knowledge sharing, networking, and joint strengthening of our cyber defenses, and ultimately fostering resilience. regional cyber. ” said Avinash Advani, CEO of CyberKnight.
