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 crucial.
According to Statista Market Insights estimates, the global cost of cybercrime is expected to increase over the next four years, from SR34.5 trillion in 2024 to SR51.82 trillion by 2028.
Cybercrime is defined as “damage and destruction of data, theft of money, loss of productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, post-attack disruption of the normal course of business, forensic investigation, recovery and deletion of hacked data and systems, and damage to reputation.” Cyberattacks have become increasingly sophisticated, frequent, and damaging, targeting critical infrastructure, sensitive data, and organizational operations. Traditional cybersecurity measures, which focus primarily on defense, are no longer sufficient to combat these dynamic threats.
Organizations are now facing challenges arising from digital transformation, the increase in interconnected devices, and complex cyber attacks. This has created a critical need for a hyper-resilient cybersecurity approach.
Hyper-resilient cybersecurity refers to the concept of creating hyper-resilient computer systems and networks that can not only withstand and recover from attacks, but also become stronger and more capable of responding to threats.
With advances in technologies such as artificial intelligence, IIoT, and hybrid cloud, Saudi Arabia faces 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 the National Cybersecurity Authority, is at the forefront of this movement, strengthening its cybersecurity and digital readiness to protect its growing economy and digital infrastructure.
According to the Global Competitiveness Yearbook 2024 report published by IMD, the UK ranked 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 such as Absher, Qiwa, Nusuk and many others, for government services are among the factors responsible for the Kingdom’s global recognition on the IT front. Additionally, Saudi Arabia aims to increase the contribution of its 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 just robust defenses. It requires a proactive and adaptable mindset that embraces innovation, anticipates the unexpected, and empowers our people to be the first line of defense. Join us as we explore the frontiers of hyper-resilient cyber, where cybersecurity is not just a safeguard, 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 emerges as a crucial platform to address the evolving cybersecurity landscape. Now in its 12th year, MENA ISC 2024 will bring together key industry leaders such as Salam, CyberKnight and Cyber Polygon, visionaries, market innovators and experts to discuss the latest cybersecurity challenges and share game-changing solutions.
“MENA ISC plays a critical role in building cybersecurity capabilities in Saudi Arabia, serving as a cornerstone for fostering collaboration and innovation among industry leaders. For CyberKnight, this event is an invaluable platform to demonstrate our commitment to advancing cybersecurity in the region. It allows us to engage with local businesses and government entities, showcase cutting-edge solutions, and contribute to the Kingdom’s Vision 2030 for a secure digital future. Our participation underscores the importance of such gatherings in facilitating knowledge exchange, networking, and collectively strengthening our cyber defenses, ultimately driving regional cyber resilience,” said Avinash Advani, CEO of CyberKnight.
