Artificial intelligence (AI) is a big game changer in the Middle East’s economy. Governments and businesses across the region realize the global shift towards AI and advanced technologies. The largest gains are expected to accrue to Saudi Arabia, where AI is expected to contribute over $135.2 billion by 2030 to the economy.
A recent survey research company Censuswide and commissioned by US-based cybersecurity firm Palo Alto Networks of 502 CEOs in Saudi Arabia and the UAE found that 94% of organizations in the kingdom intend to increase their AI investments, with 69% of executives looking to expand funding.
The survey further revealed that 77% of those surveyed acknowledged AI’s crucial role in shaping their digital framework.
“The escalating and increasingly complex cybersecurity challenges are prompting organizations to revise their strategies to enhance security postures and increase cyber resilience,” said Ercan Aydin, regional vice president at Palo Alto Networks, Middle East and Africa.
“It’s encouraging that business leaders in Saudi Arabia view AI as an important business enabler. Paired with cybersecurity practices such as strong policies, employee training, and an integrated platform approach, the opportunities are limitless for organizations looking to upgrade their cybersecurity with AI and machine learning,” he added.
In addition, 87% noted that they understand the risks of cyber threats, with 91% believing their organization is prepared to handle them.
Cyberattacks have increased over the previous year, with 71% of CEOs sharing that cybersecurity is important at the board level.
The Innovation By Design Summit is in Doha on April 24. Attendance at the summit is by invitation only. Delegates can register here to receive their exclusive invite.
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