For the United Arab Emirates (UAE), an aggressive push towards a more digital economy has garnered a lot of interest and subsequent investment, but it has also made it a prime candidate for persistent cyber-attacks. I did.
almost Reportedly thwarted 50,000 cyber attacks every daythe UAE has spent the last year strengthening its digital borders and leveraging key partnerships to stay one step ahead of attackers.
hit the bank
The financial sector has become a prime candidate for cyber-attacks around the world, and in 2023 the UAE encouraged other countries to help strengthen the sector’s defenses.Especially that Partnership with the U.S. Department of the Treasury This will enable both countries to share the latest cybersecurity threats affecting the financial services sector and develop contingency plans accordingly.
Similar security partnerships have been established with Morocco and Chad, further strengthening digital ties between the two countries. Dubai in particular has ambitious plans to: Become a world leader in artificial intelligence (AI) by 2031 — This is a feat with many opportunities and digital risks.
However, security is a priority for the UAE and it urges the UAE to put in place effective policies and systems to minimize cyber-attacks. Dr. Mohammed Al Kuwait, head of cybersecurity for the UAE government, has been at the forefront of advocating for more skilled cybersecurity talent in the country, particularly in the field of AI.with white paper Published by CPX HoldingsAl Kuwait highlighted the dramatic growth experienced by AI in 2023 and how it is poised to become an important tool in both defense and offense in the country’s security environment.
innovative technology
In fact, AI has become a hot topic in various countries in the Middle East this year. Especially generative AI (GenAI) It has the greatest promise. Expectations for the development of the GenAI industry $23.5 billion annually by 2030 According to Strategy&, in the Arab Gulf region, Gartner found that 45% of executives are testing GenAI.
Given this financial outlook, countries are aggressively pursuing AI projects across a variety of applications, from data analysis and threat detection to customer service. Sujoy Banerjee, Associate Director at ManageEngine, echoes the importance of AI in the region and how the UAE was one of the first countries to realize its true potential.
“2023 was a year of transformation for the UAE, with the rise of emerging technologies such as AI and ML, which took the lead, especially in terms of cybersecurity,” Banerjee said. “Companies in the Middle East are recognizing the value and need to embrace new technologies such as this to unlock their business potential, which will enhance productivity, security, efficiency, competitiveness and evolve It also helps us meet the needs of our customers.”
The lesson for the UAE from 2023 is that the adoption of AI brings equal amounts of risk and reward. Cybercriminals are increasingly using his AI tools for impersonation techniques, generating phishing emails imitating relatives, friends, and colleagues to steal information.
Chester Wisniewski, Director Global Field CTO at Sophos, said the threat landscape in 2024 will be very similar to 2023, with hackers exploiting zero-day vulnerabilities and using stolen credentials. By gaining access to the victim, they say they gain a more efficient way to infiltrate the network. network.
Experts say that while AI adoption will be a good topic for the UAE in 2024, the country still needs to address persistent technology gaps that exist in many organizations. Whether it’s due to outdated legacy systems still in operation or a lack of skilled professionals familiar with new technology, most organizations can avoid critical cyber risks if these are addressed. The attack could have been avoided.
Trellix’sMind of the CISO: What’s behind the breach?” report shows the harm this technology gap can cause. Almost 64% of UAE respondents said attacks were missed due to either lack of resources or lack of skills to respond to complex incidents in a timely manner.