KSA to take center stage in hyper-resilient cybersecurity

KSA to take center stage in hyper-resilient cybersecurity
For CyberKnight, MENA Information Security Conference 2024 is an invaluable platform to demonstrate their commitment to enhancing cybersecurity in the region. (Supplied)
Short Url
Updated 04 August 2024
Follow

KSA to take center stage in hyper-resilient cybersecurity

KSA to take center stage in hyper-resilient cybersecurity

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 estimates from Statista’s Market Insights, the global cost of cybercrime is expected to surge in the next four years, rising from SR34.5 trillion in 2024 to SR51.82 trillion by 2028. 

Cybercrime is defined as the “damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, post-attack disruption to the normal course of business, forensic investigation, restoration and deletion of hacked data and systems and reputational harm.” Increasingly cyberattacks have become more sophisticated, frequent, and damaging, targeting critical infrastructure, sensitive data, and organizational operations. Traditional cybersecurity measures, which primarily focus on defense, are no longer sufficient to combat these dynamic threats. 

Organizations are now facing challenges from digital transformation, the rise of interconnected devices, and complex cyberattacks. This has created a critical need for a hyper-resilient cybersecurity approach.

Hyper-resilient cybersecurity refers to the concept of building cyber systems and networks that are hyper-resilient — able not to just withstand and recover from attacks, but to actually grow stronger and more capable of responding to threats. 

With advancements in technologies like AI, IIoT and the 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, enhancing its cybersecurity and digital preparedness to protect its growing digital economy and infrastructure. 

The Kingdom 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 issued by IMD. 

The use of convenient digital platforms such as Absher, Qiwa, Nusuk, and many more, for governmental services are among the factors responsible for the Kingdom’s global recognition on the cyber 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 demands a proactive, adaptable 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 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 adviser/CEO at Virtuport.

Virtuport’s MENA Information Security Conference 2024 emerges as a crucial platform for addressing the evolving cybersecurity 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 cybersecurity challenges and share groundbreaking solutions.

“MENA ISC plays a pivotal role in Saudi Arabia’s cybersecurity capacity building, 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 enhancing cybersecurity in the region. It allows us to engage with local enterprise and government entities, showcase cutting-edge solutions and contribute to the Kingdom’s Vision 2030 of a secure digital future. Our participation underscores the importance of such gatherings in facilitating knowledge exchange, networking, and the collective strengthening of our cyber defenses, ultimately driving regional cyber resilience forward.” said Avinash Advani, CEO at CyberKnight.


Saudi firms yet to fully embrace AI: Cisco survey

Saudi firms yet to fully embrace AI: Cisco survey
Updated 02 February 2025
Follow

Saudi firms yet to fully embrace AI: Cisco survey

Saudi firms yet to fully embrace AI: Cisco survey

Ahead of the LEAP 2025 conference in Riyadh, Cisco announced findings from its latest AI Readiness Index, which reveals that 72 percent of organizations in the Kingdom have a strategy to deploy AI powered solutions in their organization. The report highlights that despite increasing urgency in deployment and investment, businesses in Saudi Arabia face challenges in adopting, deploying, and fully leveraging AI, amid the rapid market evolution and the significant impact AI is anticipated to have on business operations.

The index is based on a double-blind survey of 7,985 senior business leaders from organizations with 500 or more employees across 30 markets, including Saudi Arabia. These leaders are responsible for AI integration and deployment within their organizations. The AI Readiness Index is measured across six pillars: strategy, infrastructure, data, governance, talent, and culture.

Key findings include:

Acting with urgency

AI has become a cornerstone for business strategy, and there is an increasing urgency among companies to adopt and deploy AI technologies. In the Kingdom, nearly all (98 percent) report an increased urgency to deploy AI in the past year, primarily driven by the CEO and leadership team. Nearly all (86 percent) companies say they only have 18 months to start demonstrating the impact of AI. More than half (60 percent) give it only 12 months.

Rising investment

Over the past year, AI has been a priority spend for organizations in Saudi Arabia, with 50 percent allocating 10-30 percent of their IT budgets to AI projects. AI investments have focused on three strategic areas: IT infrastructure (51 percent), cybersecurity (40 percent), and data management (38 percent). The top three outcomes they aim to achieve include improving the efficiency of systems, processes, operations, and profitability; the ability to innovate and remain competitive; and creating a better experience for customers and partners. 

Salman Faqeeh, managing director, Cisco Saudi Arabia

Infrastructure gaps

Networks are yet to be equipped to meet AI workloads. There are gaps in compute, data center network performance, and cybersecurity, among other areas. Only 31 percent of organizations have the necessary GPUs to meet current and future AI demands and nearly a third (34 percent) have the capabilities to protect data in AI models with end–to–end encryption, security audits, continuous monitoring, and instant threat response. In Saudi Arabia, 62 percent rated improving scalability, flexibility, and manageability of their IT infrastructure as their top priorities, showing they are aware of the gaps that need to be addressed.

Skills development

A lack of skilled talent is a top challenge for companies in Saudi Arabia, underscoring the critical need for skilled professionals to drive AI initiatives. Only 46 percent of Saudi organizations claim their talent is at a high state of readiness to fully leverage AI, and 39 percent say their organizations lack in-house talent necessary for successful AI deployment.

Salman Faqeeh, managing director, Cisco Saudi Arabia, said: “Saudi Arabia is at the forefront of embracing AI as a catalyst for digital transformation. The findings of Cisco’s recent AI Readiness Index highlight the significant strides organizations in the Kingdom are making, with clearly defined strategies and increasing investments in AI. At Cisco, we are committed to empowering organizations with cutting-edge technologies and expertise to realize the full potential of AI.”

He added: “Our participation at LEAP 2025 under the theme ‘Cisco Connects and Protects the AI Era,’ underscores our dedication to promoting innovation and collaboration in the country, in alignment with the Kingdom’s Vision 2030 goals.”

This year, Cisco’s participation at LEAP 2025 centers around connecting and protecting businesses in the AI era. Visitors will have the opportunity to engage with subject matter experts at Cisco’s booth and explore innovative solutions designed to transform data centers to power AI workloads, modernize workplaces for seamless collaboration, and enhance digital resilience with advanced security and observability.


Honeywell, Petro Rabigh sign MoU to license NEP technology

Honeywell, Petro Rabigh sign MoU to license NEP technology
Updated 02 February 2025
Follow

Honeywell, Petro Rabigh sign MoU to license NEP technology

Honeywell, Petro Rabigh sign MoU to license NEP technology

Under the patronage of the Ministry of Energy, Petro Rabigh and Honeywell have signed a memorandum of understanding to explore the deployment of Honeywell UOP’s naphtha-to-ethane-and-prop technology. The signing ceremony was sponsored by Assistant Minister for Development and Excellence at the Ministry of Energy Ahmed Al-Zahrani, reaffirming the Kingdom’s commitment to fostering innovation and sustainability in the energy sector.

The non-binding MoU represents a significant milestone in leveraging advanced technologies to transform butane and naphtha into high-value feedstocks for light olefin production, such as ethylene and propylene.

This collaboration will demonstrate and commercialize the innovative NEP technology, enhancing productivity, operational efficiency, and sustainability through the production of value-added petrochemical products from crude oil. The initiative aligns with the goals of Saudi Vision 2030 to drive innovation in the energy sector, promote liquid-to-chemical processes, and improve energy efficiency and economic resilience.

Petro Rabigh is the largest integrated refinery and petrochemical complex in Saudi Arabia, producing fuels and high-value petrochemical products. 

Honeywell has been a key player in the region for more than 70 years, delivering cutting-edge solutions and actively contributing to the government’s vision of advancing technology adoption and development efforts.


Latest Rasanah report offers deep dive into current geopolitical crises

Latest Rasanah report offers deep dive into current geopolitical crises
Updated 02 February 2025
Follow

Latest Rasanah report offers deep dive into current geopolitical crises

Latest Rasanah report offers deep dive into current geopolitical crises

The International Institute for Iranian Studies, known as Rasanah, has released its 2024-2025 Annual Strategic Report titled "Globalization of Crises and Complexity of Conflicts," providing an in-depth analysis of the geopolitical landscape shaping 2025.

The report documents the complexities of significant conflicts, offering insights into potential scenarios for the coming year, an official statement explained. It broadens its scope to include new geopolitical arenas, offering a detailed look at how traditional and emerging powers navigate the shifting sands of international influence.

Rasanah critically examines the ineffectiveness of UN bodies in conflict resolution and the impact of regime changes in the Middle East, which has emerged as a focal point of volatility and transformation.

Through four comprehensive sections, Rasanah provides insights into international developments, regional shifts and Saudi policy trends as well as the ebb and flow of Iranian regional and international influence.

Saudi Arabia's Strategic Positioning

Highlighting Saudi Arabia's alignment with Vision 2030, the report praises the Kingdom's efforts to bolster its regional and global standing.
The report discusses Saudi policies and responses to challenges with a resilient vision, including the Saudi response to Arab and regional developments and Saudi Arabia’s position amid global shifts.
According to the report, Saudi Arabia will continue its support of the future of the Middle East, including the Gulf region, by cooperating with its regional and international allies to de-escalate tensions and end conflicts in the region.
The Kingdom will likely mediate major regional thorny issues between different countries with the aim to restore stability and security to the Middle East.

Global Developments

The section on global developments dissects the interactions among major powers, the economic implications of these interactions, and the ongoing Russia-Ukraine conflict, now described as a war of attrition. It also delves into non-traditional security issues as well as the evolving religious landscape in the Islamic world.

Regional Developments

2024 saw intensified geopolitical rivalry in the Middle East, with Israel and Iran particularly vying  to establish a new paradigm of regional deterrence and conflict. The Gulf states have adopted a stance of positive neutrality, while Turkiye has pursued new strategies for regional and international benefits.
The report notes that in contrast, Africa continued to grapple with instability, fueled by internal crises and external interventions. The crisis in Bangladesh further reverberated across South Asia.

It forecasts continued geopolitical evolution into 2025, with Iran likely struggling to reclaim its previous influence.

Iran's Strategic Reassessment

In 2024, Iran underwent critical political, economic, social and military shifts that significantly influenced its domestic and foreign policy strategies.
Regionally, Iran faced unprecedented challenges, particularly in Syria and Lebanon, prompting a reevaluation of its traditional geopolitical strategies amid diminishing influence.
On the international stage, Iran’s diplomatic relations with both global and regional powers experienced notable shifts, impacting its strategic leverage and laying the groundwork for potential implications as it moves into 2025.

Rasanah's report not only maps out the intricate web of global and regional conflicts but also provides a sobering forecast for 2025, emphasizing the need for strategic foresight and international cooperation to navigate the complexities of modern geopolitics.

This comprehensive analysis, supported by robust data and scenario planning, serves as a critical tool for policymakers, scholars, and anyone interested in understanding the dynamics of global politics in an era marked by crises and complex conflicts.


Italian clothing brand intimissimi opens first Saudi store

Italian clothing brand intimissimi opens first Saudi store
Updated 30 January 2025
Follow

Italian clothing brand intimissimi opens first Saudi store

Italian clothing brand intimissimi opens first Saudi store

intimissimi, an Italian brand synonymous with elegance and romance, has opened doors to its first Saudi store at Panorama Mall in Riyadh. This launch marks a milestone for the brand, introducing its world-renowned sophistication, classic Italian flair, and unsurpassed workmanship to the Kingdom for the first time.

“The flagship store is more than just a shopping destination — it is a celebration of femininity and style,” a statement said. Designed with intimissimi’s standard attention to detail, the store provides an immersive shopping experience in which consumers can browse luxurious products in a welcoming, easy-to-navigate setting. The store exudes the essence of Italian charm, giving women across the Kingdom a taste of the Italian elegance that has captured hearts all over the world.

“Our entry into Saudi Arabia marks an exciting milestone for intimissimi as we continue to expand our presence in the Middle East. This step reflects the Kingdom’s increasing demand for luxury apparel and its dynamic, style-conscious community. We are thrilled to bring our elegant tradition to Saudi Arabia and look forward to becoming a cherished part of Riyadh’s vibrant fashion scene,” said Tamara Jaber, brand manager at intimissimi.

To celebrate the grand opening, intimissimi at Panorama Mall hosted an exclusive event, which drew a distinguished crowd, including some of Saudi Arabia’s top influencers and fashion enthusiasts. Guests were invited to explore the new store and its collections, enjoying an evening filled with glamor and sophistication. The event featured special promotions, and exclusive surprises, creating a truly unforgettable experience that marked the brand’s debut in the Kingdom.

intimissimi’s collections, which include luxurious intimates, elevated knitwear, and comfy nightwear, will now be available for shoppers in Riyadh. Founded in 1996, the brand combines Italian heritage with current designs to empower women with comfort and beauty. It is available in 53 countries with 1,719 stores worldwide.


Saudi Awwal Bank named Kingdom’s ‘best trade finance provider’

Saudi Awwal Bank named Kingdom’s ‘best trade finance provider’
Updated 29 January 2025
Follow

Saudi Awwal Bank named Kingdom’s ‘best trade finance provider’

Saudi Awwal Bank named Kingdom’s ‘best trade finance provider’

Saudi Awwal Bank, a leading financial institution in the Kingdom, has been honored by Global Finance as the “Best Trade Finance Provider” in Saudi Arabia for 2025.

The prestigious award marks the fifth consecutive year SAB has received this recognition since its landmark merger, further solidifying its reputation as the foremost trade finance institution in the Kingdom and reflecting its remarkable performance in 2024.

The award is based on a comprehensive evaluation of several key factors, including transaction volumes, global coverage, customer service excellence, competitor benchmarking, and the adoption of innovative technologies. Feedback from multinational decision-makers worldwide and insights from industry analysts and corporate executives underscored SAB’s ability to consistently outperform competitors and maintain a strong position in the competitive trade finance sector.

Yasser Al-Barrak, chief corporate and institutional banking officer at SAB, said: “This award reflects the unwavering dedication, hard work, and collaboration of numerous departments across SAB in addressing our clients’ complex and evolving needs. Our success is driven by the expertise of our teams, our innovative solutions, exceptional service, and global reach through our partnership with HSBC.”

He added: “We are also committed to providing the best services and projects that support development and promote economic growth to achieve the goals of Saudi Vision 2030.”

SAB’s product and service offerings and its steadfast commitment to client satisfaction have positioned it as a vital driver of trade within the Kingdom.

Despite a dynamic business environment, SAB continues to deliver tailored solutions that meet the unique needs of both local and multinational clients. This adaptability and innovation have enabled the bank to sustain robust performance metrics and reaffirm its status as a preferred provider of both conventional and Islamic trade finance solutions.

Today, as a leader in trade finance, SAB is aligned with Saudi Arabia’s Vision 2030 goals, striving to enhance the Kingdom’s economic growth and positioning itself as a key player in the global financial landscape.