RIYADH: The Global Cybersecurity Forum in Riyadh focused on how global collaboration is important to secure the digital future. Saudi Information Technology Co.’s CEO Saad Al-Aboodi said that the global systems being interconnected and the shift of physical assets to digital ones, raises the significance of cybersecurity for modern societies. He highlighted importance of knowing cybersecurity economics and facilitating responsible technologies.
Al-Aboodi pointed out that even though the global cybersecurity market is estimated at $ 180 billion in 2024, cost of cybercrime is expected to reach $ 9.5 trillion by the year-end. He also noted the increasing relationship between physical and cyber warfare has led to an increase in both protection and attack costs. Another focus was Artificial Intelligence (AI) which Al-Aboodi described as embedded technology that has a broad impact. He highlighted safeguarding cyberspace requires collective action by governments, industries and individuals.
Malaysia’s National Cyber Security Agency’s CEO Megat Zuhairy, reinforced the need for trust and healthy cybersecurity environment for investments. CEO of AhnLab, Suk-Kyoon Kang stressed that AI helps strengthen the efficiency of cybersecurity and Miguel Angel Canada from Spain’s National Cybersecurity Institute said that cybersecurity is also a business opportunity and should be better connected to research and market applications.
Cisco Systems’s Timothy Sherman pointed out the importance of universal cybersecurity, saying that it should be a fundamental right for everyone. The 2 day forum let industry leaders to come together and call for unified global actions against increasing cyber threats.
