As Saudi Arabia continues its ambitious transformation under Vision 2030, the ability to adapt, overcome challenges and withstand adversity has never been more important.
According to estimates by Statista's Market Insights, the global cost of cybercrime is projected to increase over the next four years, rising from SR34.5 trillion in 2024 to SR51.82 trillion by 2028.
Cybercrime means the loss and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, disruption of the normal course of business following an attack, forensic investigation, restoration and deletion of hacked data and systems, and damage to reputation.” Increasingly, cyberattacks have become more sophisticated, frequent, and damaging, targeting critical infrastructure, sensitive data, and organizational functions. Traditional cybersecurity measures, which focus primarily on defense, are no longer sufficient to deal with these dynamic threats.
Organizations are now facing challenges from digital transformation, the rise of interconnected devices, and sophisticated cyber attacks. This has created a significant need for a hyper-resilient cybersecurity approach.
Hyper-resilient cybersecurity refers to the concept of building cyber systems and networks that are hyper-resilient — not just to withstand and recover from attacks, but to actually become stronger and able to respond to threats.
With advances in technologies such as AI, IIoT and hybrid cloud, Saudi Arabia is facing new cybersecurity challenges, highlighting the critical need for hyper-resilient cybersecurity measures to protect the nation's digital infrastructure and economic interests.
Saudi Arabia, through Vision 2030 and various cybersecurity initiatives such as the establishment of a National Cybersecurity Authority, is at the forefront of this movement, enhancing its cybersecurity and digital preparedness to protect its growing digital economy and infrastructure.
According to the Global Competitiveness Yearbook 2024 report released by IMD, the Kingdom ranks first globally in the Cybersecurity Index and second globally in both the Digital Transformation Index and the Technology Development and Application Index.
The use of convenient digital platforms like Absher, Qiwa, Nusuk, and many others for government services is one of the factors responsible for the state's global recognition on the cyber front. In addition, Saudi Arabia aims to increase the contribution of its digital economy from 5.48 percent in 2021 to 19 percent of its GDP by 2030.
“In the face of ever-evolving cyber threats, true resilience requires more than robust defenses. It demands a proactive, adaptive mindset – one that embraces innovation, anticipates the unexpected, and empowers our people to be the first line of defense. Join us as we become hyper-resilient We explore the boundaries of cyber, where cyber security is not just a defense, but a strategic advantage that drives Saudi Arabia's digital future,” said Samir Omar, Chief Security Strategy Advisor/CEO, Virtuport.
Virtuport's MENA Information Security Conference 2024 has emerged as an important platform to address the evolving cyber security landscape. Now in its 12th edition, MENA ISC 2024 brings together top industry leaders such as Salam, Cybernite, and Cyber Polygon, visionaries, market innovators and experts to discuss the latest cybersecurity challenges and share groundbreaking solutions.
“The MENA ISC plays a pivotal role in building Saudi Arabia's cybersecurity capacity, serving as a cornerstone to foster collaboration and innovation among industry leaders. For CyberKnight, this event is an invaluable platform to demonstrate our commitment to enhancing cybersecurity in the region. It allows us to engage with enterprises and government agencies, showcase state-of-the-art solutions and contribute to the Kingdom's Vision 2030 of a secure digital future. ” Avinash Advani, CEO of CyberKnight said.
