A report issued by Cisco revealed that 99% of Saudi companies increased their budgets With cyber security During the past 12 to 24 months, 98% of the companies surveyed by Cisco are integrating artificial intelligence In its security defense’s.
39% of survey participants stated that they have increased their budgets by more than 30%, and 52% of Saudi companies spend more than 10% of their IT budgets on security issues, which reflects the growing awareness of the importance of cybersecurity in the current digital world.
Regarding the significant boom in the use of artificial intelligence technologies in cybersecurity strategies for organizations in the Kingdom of Saudi Arabia, the “Cisco” report indicated that 98% of the companies surveyed are integrating artificial intelligence technologies into their security defenses, especially in the field of detecting and responding to threats. And recover from it.
The Cisco Cybersecurity Readiness Index for 2024 indicates that Saudi companies are actively trying to enhance and strengthen their defenses, despite continuing to be targeted by a variety of attacks ranging from phishing and ransomware to supply chain attacks and social engineering attacks. The complexity of security situations dominated by multi-point solutions presents a challenge in effectively thwarting these threats.
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The report shows the confidence of Saudi companies in their ability to deal with cyber threats, as 98% of Saudi companies reported a medium to high level of confidence in their cyber defense capabilities.
Salman Faqih, CEO of Cisco Saudi Arabia, called on companies in Saudi Arabia to be very vigilant against cyber attacks, as Saudi Arabia moves forward in implementing “Vision 2030” to transform into a digital economy with large-scale developments in its digital infrastructure.
80% of Saudi companies expect a cybersecurity incident to disrupt their business within the next 12 to 24 months, while 67% have already been exposed to a cybersecurity incident.
These incidents caused financial losses ranging from $500,000 to $600,999 over the past 12 months. These losses also affect the reputation of institutions and companies, and put the continuity of their business at risk in the long term, as well as confirming the urgent need to take comprehensive security measures.
97% of Saudi companies face a shortage of talent related to cybersecurity, which constitutes a major concern for their business, and this shortage in the number of competent specialists affects the ability of companies to respond effectively to such threats. The increase in budgets, the search for qualified specialists, the adoption of artificial intelligence and other innovative security measures, the approach to deploying a security platform, and the growing awareness of the importance of cybersecurity, indicate that Saudi Arabia is moving forward on the right path.
