The cybersecurity terrain is becoming increasingly tougher. Most business leaders anticipate future breaches, yet there's a critical global shortage of cybersecurity experts.
According to new research, 78% of business leaders in the Middle East and Türkiye (MET) region expect to suffer from a cybersecurity incident in the next twelve months, but only 46% of organizations feel well prepared to deal with it.
82% of MET organizations have already experienced at least one cybersecurity incident within the last two years. In 2023, 84% reported more incidents compared to previous years and 42% say the volume has increased significantly.
This alarmingly proves that cyber attacks are pervasive and increasing in volume and frequency in today’s digital-centric world. As a rough estimate, there is a rate of one incident every six to 11 days happening within organizations.
The top cyberattacks that MET’s business and technology leaders face are web attacks (69%), malware (62%), and phishing (55%). Ransomware, spyware (38%), business email compromise (36%), and API attacks (32%) are also common. These patterns have been observed in the UAE, Bahrain, and Egypt.
Also Read: Cyber Risks Escalate: Middle East Businesses See 10% Jump in Breach Costs
Taking Action: More Investments and Cybersecurity Professionals Needed
According to Bloomberg Intelligence, investment in cybersecurity is set to exceed USD 200 billion by 2024. Having said that, 74% of the MET-based respondents expect the proportion of their IT budget dedicated to cybersecurity to rise over the next year, while 16% foresee no change in their investment.
This is a promising sign, as organizations brace for the surge in incidents expected next year.
Through targeted investments, international collaborations, and proactive planning, the GCC alone is advancing its cybersecurity landscape and contributing to evolving standards to establish a secure global cyberspace.
Amidst this, a significant global shortfall in cybersecurity professionals remains, despite considerable infrastructure and talent development investments.
A recent cybersecurity workforce report highlighted that only 72% of cybersecurity roles are currently filled, leaving organizations vulnerable to rising cyber threats. In the UAE, 95% of companies are planning to fill cybersecurity vacancies with AI.
The global cybersecurity workforce stands at 7.1 million professionals, with the Asia Pacific holding the largest share, while Africa faces severe underrepresentation with fewer than 300,000 professionals.
Aiming to mitigate the workforce gaps, 70% of organizations are already incorporating AI into their cybersecurity frameworks but this shift presents both opportunities and challenges.
More than half of cybersecurity leaders have expressed concerns regarding AI-enabled adversarial techniques, pushing them to become more focused on continuous training and upskilling.
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