94% of organizations in Saudi Arabia plan to increase their investment in artificial intelligence (AI) technology to enhance cybersecurity, according to UK-based research company, Censuswide. AI and machine learning (ML) can identify important security events in an organization with high fidelity through real-time data analysis from multiple sources, while reducing the time and experience required in the Security Operation Center (SOC). Experts suggest that organizations can upgrade their cybersecurity with AI and ML through cybersecurity best practices such as strong policies, employee training and an integrated platform approach.
Also read: Digital Defence: Salam's Cutting-edge Cybersecurity and AI Solution
Cyber Threats: Are Organizations Prepared?
The survey indicated a strong awareness among Saudi entities about potential cyber risks, with 87% of respondents understanding the threats, while 91% are confident in their organization’s readiness to handle them. However, despite this assurance, half of the participants observed an increase in cyberattacks over the previous year.
A substantial 71% of CEOs considered cybersecurity a matter of board-level importance, with nearly half viewing themselves— alongside the chief information officer— as responsible for safeguarding their organizations from cyber threats.
A Strategic Shift in Cybersecurity Investment
The research further highlighted a strategic shift in cybersecurity investment, with 69% of executives looking to increase funding in this area.
Conversely, 84% of respondents reported plans to streamline their security solutions to mitigate complexity, as confirmed by their respective companies’ chief information security officers.
The comprehensive study surveyed 502 CEOs in Saudi Arabia and the UAE from September 20-28, 2023, adhering to the standards of the Market Research Society and the ESOMAR principles, under the oversight of The British Polling Council.
Based on Help AG's State of the Market Report for the previous year, there was a notable 183% surge in cyber-attacks solely within the UAE. All sectors within the nation, including government, oil, healthcare, and telecommunications, experienced recurrent attacks.
Also read: Fortinet: Helping Organizations Strengthen Their Cybersecurity Posture
Separately, it is estimated that GenAI could add USD 4.4 trillion to the global GDP each year. Yet, there are challenges in place, enabling companies to achieve this. A recent Cisco AI Readiness Index (a survey of more than 8,000 private sector, business and IT leaders across 30 countries) found that 95% of respondents have an AI strategy either in place or under development— yet only 14% are ready to integrate AI into their businesses.