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 critical.
According to estimates from Statista's Market Insights, the global cost of cybercrime is expected to increase over the next four years, from SR 34.5 trillion in 2024 to SR 51.82 trillion in 2028.
Cybercrime is defined as “damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial information, embezzlement, fraud, disruption of normal operations after the attack, forensic investigation, recovery and deletion of hacked data and systems and damage to reputation.” Increasingly, cyber attacks have become more sophisticated, frequent and malicious, 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 now face challenges from digital transformation, the rise of connected devices and complex cyber attacks. This has created a critical need for a hyper-resilient cyber security strategy.
Hyper-resilient cybersecurity refers to the concept of building cyber systems and networks that are hyper-resilient – capable of not only resisting and recovering from attacks, but actually growing stronger and more 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 hyper-resilient cybersecurity measures to protect the country'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, improving its cybersecurity and digital preparedness to protect its growing digital economy and infrastructure.
The Kingdom was ranked first globally in the Cybersecurity Index and second globally in both 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 practical digital platforms like Absher, Qiwa, Nusuk and many more for government services are among the factors responsible for the Kingdom's global recognition on the cyber front. In addition, 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, real resilience requires more than just robust defenses. It requires 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 explore the frontiers for hyper-resilient cyber, where cybersecurity is not just protection, but a strategic advantage driving Saudi Arabia's digital future,” said Samir Omar, Chief Security Strategy Advisor/CEO at Virtuport.
Virtuport's MENA Information Security Conference 2024 emerges as a crucial platform to address the changing cyber security landscape. Now in its 12th edition, MENA ISC 2024 will bring together top industry leaders such as Salam, CyberKnight and Cyber Polygon, visionaries, market innovators and experts to discuss the latest cyber security challenges and share cutting edge solutions.
“The MENA ISC plays a central role in Saudi Arabia's cybersecurity capacity building, 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 improving cybersecurity in the region. It allows us to engage with local businesses and authorities, showcase cutting-edge solutions and contribute to the Kingdom's Vision 2030 of a secure digital future.Our participation underlines the importance of such gatherings to facilitate knowledge sharing, networking and the collective strengthening of our cyber defences, ultimately driving regional cyber resilience going forward.” said Avinash Advani, CEO at CyberKnight.
