Cybersecurity in focus at GITEX Global 2024
As AI plays a key role
Participants at GITEX Global 2024, currently underway at the Dubai World Trade Centre, are deeply engaged in keynote speeches, panels, and cybersecurity discussions. These sessions are about the challenges and threats and the urgent and emerging cyber threats looming over businesses and governments.
With cybercrime damages expected to reach $10.5 trillion annually by 2025, a robust cybersecurity framework is more critical than ever.
The finance sector is experiencing a significant surge in AI-driven fraud, with a 40% increase reported in 2024. A pivotal conference session at the ongoing Dubai event, ‘AI-Driven Digital Fraud: Safeguarding the Finance Industry’s Future,’ explored how new technologies can mitigate these risks.
Dr Mohamed Al Kuwaiti, Head of Cybersecurity for the UAE Government, underlined the pivotal role of AI in countering threats. He revealed that the UAE has successfully intercepted millions of cyber threats this year, attributed to AI’s early threat detection capabilities.
“Cyber awareness is not just important, it’s crucial – and AI is changing the game,” he noted, referencing the 71 million cyberattacks the UAE faced in the first quarter of 2024. This is a call to action for everyone to be more aware and responsible in the digital space.
GITEX Global 2024 also featured insights from Todd Conklin, Chief AI Officer at the US Department of the Treasury, who highlighted AI’s effectiveness in fraud prevention. “We’ve leveraged AI models to reduce fraud by nearly $600 million in the last six months,” he said, stressing the technology’s growing importance in the counter-fraud landscape.
Dr Aloysius Cheang, Huawei’s Chief Security Officer in the Middle East and Central Asia, reported that the company faces an average of 12 billion cyberattacks daily, underscoring the need for robust cybersecurity measures.
Cybersecurity firms like Kaspersky showcased their innovative technology solutions at GITEX Global 2024, including a pioneering Cyber Immunity approach. Fortinet also introduced its latest cybersecurity platform offerings.
The UAE Cyber Security Council hosted GITEX Cyber Valley, featuring talks from cybersecurity experts, including Brett Johnson, a former cybercriminal turned advocate against cybercrime. His session, ‘Scamming the Scammer: Inside the Mind of a Cybercriminal,’ captivated audiences with insights into the dark web.
Live demonstrations on AI-powered hacking techniques also took centre stage at GITEX Global 2024, providing attendees with real-world examples of offensive and defensive cybersecurity strategies. Visitors learned from Santiago Lopez, the world’s first million-dollar hacker, during his session on monetising hacking skills.
Featured image: The UAE Cyber Security Council’s exhibitor pavilion at GITEX Global 2024. Credit: Arnold Pinto
Last Updated on 2 months by Dan Ngiam
