As Saudi Arabia continues its ambitious transformation under Vision 2030, the ability to adapt, overcome challenges, and thrive in the face of adversity has become more important than ever.
According to Statista’s Market Insights, the global cost of cybercrime is expected to surge over the next four years, increasing from SR34.5 trillion in 2024 to SR51.82 trillion in 2028.
Cybercrime is defined as “data corruption and destruction, money theft, productivity loss, intellectual property theft, personal and financial data theft, embezzlement, fraud, post-attack disruption of normal business processes, forensic investigation, recovery and deletion of compromised data and systems, and reputational damage.” Cyberattacks are becoming more sophisticated, frequent, and damaging, targeting critical infrastructure, sensitive data, and organizational operations. Traditional cybersecurity measures that primarily focus on defense are no longer sufficient to deal with this dynamic threat.
Organizations are now faced with the challenges of digital transformation, the rise of interconnected devices, and sophisticated cyberattacks, creating a pressing need for a highly resilient cybersecurity approach.
Hyper-resilient cybersecurity refers to the concept of building hyper-resilient cyber systems and networks, meaning they can not only withstand and recover from attacks, but actually become stronger and more resilient in response to threats.
As technologies such as AI, IIoT, and hybrid cloud advance, Saudi Arabia faces new cybersecurity challenges, highlighting the urgent need for highly resilient cybersecurity measures to protect the nation’s digital infrastructure and economic interests.
Saudi Arabia is at the forefront of this movement through various cybersecurity initiatives, such as Vision 2030 and the establishment of a national cybersecurity agency, to strengthen cybersecurity and digital readiness to protect its growing digital economy and infrastructure.
According to the 2024 World Competitiveness Yearbook report published by IMD, Thailand ranked first in the world in the Cybersecurity Index and second in the Digital Transformation Index and Technology Development and Application Index.
The use of convenient digital platforms such as Absher, Qiwa, and Nusuk for government services is one of the factors that has earned the kingdom global recognition on the cyber front. Saudi Arabia also aims to increase the contribution of the digital economy to GDP from 5.48% in 2021 to 19% by 2030.
“In the face of constantly evolving cyber threats, true resilience requires more than a robust defense. It requires a proactive, adaptive 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 propels Saudi Arabia’s digital future,” said Samir Omar, Chief Security Strategy Advisor/CEO at Virtuport.
Virtuport’s MENA Information Security Conference 2024 is emerging as a vital platform to address the evolving cybersecurity landscape. Now in its 12th year, MENA ISC 2024 brings together industry leaders, visionaries, market innovators and experts such as Salam, CyberKnight and Cyber Polygon to discuss the latest cybersecurity challenges and share groundbreaking solutions.
“MENA ISC plays a key role in building Saudi Arabia’s cybersecurity capabilities, serving as a cornerstone for collaboration and innovation among industry leaders. For CyberKnight, this event is an invaluable platform to demonstrate our commitment to strengthening cybersecurity in the region, enabling us to engage with local businesses and government agencies, showcase cutting-edge solutions, and contribute to the Kingdom’s Vision 2030 for a secure digital future. Our participation underscores the importance of these gatherings in facilitating knowledge exchange, networking, and jointly strengthening cyber defenses, ultimately advancing regional cyber resilience,” said Avinash Advani, CEO of CyberKnight.
