…With global cybercrime damaged projected to reach $10.5 trillion annually by 2025, the international tech community is determined to ignite a paradigm shift through reinvigorated determination
THUR OCT 17 2024-theGBJournal|As GITEX GLOBAL’s biggest-ever international edition reached the halfway stage, “Cybersecurity Day” headlined the Wednesday schedule.
An enlightening series of keynote speeches, fireside chats, and specialist panels cast a unique spotlight on the urgent challenges, emerging threats, and innovative opportunities facing individuals, enterprises, industries, and nations worldwide.
With global cybercrime damaged projected to reach $10.5 trillion annually by 2025, the international tech community is determined to ignite a paradigm shift through reinvigorated determination.
This universal attitude was on full display on Wednesday at GITEX GLOBAL as top CISOs, CIOs, and GRC leaders converged with a unified mission: establish the foremost line of defence globally.
In 2024, finance industry AI-driven fraud has surged by 40%, posing unprecedented challenges for incumbents. One of Wednesday’s must-attend conference sessions – ‘AI-Driven Digital Fraud: Safeguarding the Finance Industry’s Future’ – examined how emerging technologies are being harnessed to overcome the evolving threat.
H.E. Dr. Mohamed Al Kuwaiti, Head of Cybersecurity for the UAE Government, revealed that the country has dispelled millions of threats this year alone while endorsing AI as a “gamechanger” in leading the industry’s cyber resurgence.
He said to GITEX Tech Waves Podcast: “Cyber awareness is crucial – and AI is changing the game. The UAE is a financial hub that faced 71 million attacks in Q1 2024. We are resilient and thwarted these with early threat detection through AI. It’s a hugely beneficial technology alongside our great partnerships with the world.”
Todd Conklin also weighed in on the positive impact of AI. While acknowledging the potential repercussions of AI’s power when utilised by malicious actors, the Chief AI Officer & Deputy Assistant Secretary, Cybersecurity & Critical Infrastructure Protection at the US Department of the Treasury, added: “The US Treasury runs the largest payments ecosystem in the entire world. We’ve leveraged AI models to reduce fraud by almost $600 million in the last six months. It’s becoming increasingly critical in the counter-fraud space.”
Huawei shed light on its critical infrastructure and cloud tech solutions with Dr. Aloysius Cheang, Chief Security Officer for the Middle East & Central Asia at Huawei, revealing the staggering rate of cyber attacks worldwide.
While calling on enterprises to ensure stringent security postures, he said: “Huawei is attacked 12 billion times a day on average. This is why cybersecurity is positioned as a very strategic asset within our company.
Organisations must build a cybersecurity culture through a security-first, privacy-first approach – and their solutions must serve their purpose of protecting digital assets.”
Cybersecurity and anti-virus provider Kaspersky also showcased its pioneering Cyber Immunity approach and advanced threat intelligence solutions on Wednesday as US cyber firm Fortinet highlighted products and services part of its cybersecurity platform portfolio.
solutions by stc also introduced visitors to the emerging technologies utilised to deliver new value to customers.
Elsewhere on day three at GITEX Global 2024, a host of activations, showcases, and conferences took place at GITEX Cyber Valley, this year’s most anticipated cybersecurity exhibition and programme hosted by the UAE Cyber Security Council.
An unmissable session saw audiences hear from Brett Johnson – once America’s Most Wanted, now a leading global cybercrime and identity theft expert. During ‘Scamming the scammer: Inside the Mind of a Cybercriminal’, he revealed the extent of the virtual underworld while sharing his life story.
Live Hacks also headlined the GITEX Cyber Valley’s Dark Stage as ethical hackers showcased live demonstrations on AI-powered hacks. Visitors also got exclusive insights from Santiago Lopez, the world’s first million-dollar hacker, on how to turn hacking skills into a lucrative career during another special session – ‘Face to Face with 1# Million Dollar Hacker: Who wants to be a hacking millionaire?’.
GITEX GLOBAL 2024 continues today as “Data Centres Universe” welcomes an ensemble cast of thought leaders and experts to discuss the future of data management and infrastructure. Sessions throughout the day’s schedule will explore the latest data technology and sustainable energy solutions alongside data centres’ pivotal role in supporting the exponential growth of digital services.
Future Mobility will explore the shifting paradigms of the global auto tech industry with the World Future Economy Digital Leaders Summit and Global DevSlam among the many day four highlights.
Taking place from 14-18 October at Dubai World Trade Centre (DWTC), GITEX GLOBAL is the world’s largest and best-rated tech event. It presents a record-breaking 44th edition in 2024 – welcoming over 6,500 exhibitors, 1,800 startups, 1,200 investors alongside governments from more than 180 countries.
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