ALKESH SHARMA / Emirates Business
Cyber security is one of the most important propositions for all industries. A slight error or complacency could cost billions to the corporates.
A recent survey by a leading consultant company has revealed that firms in UAE usually take two weeks to a month to recover from any cyber-attack and Emirates is on the list of top 10 destinations targeted by cyber criminals.
These startling findings certainly call for an immediate action. In a bid to find full-bodied solutions for cyber-attacks, while bringing various stakeholders on the common platform, UAE is all set to host one of the high-profile conventions of technocrats â€˜IDC Middle East CIO Summit 2016â€™ from February 17-18 in Abu Dhabi. The summit is expected to attract over 150 leading IT industry specialists.
â€œThere was a time when the role of CIOs and CTOs was viewed as being ancillary to the successful running of an enterprise. This has changed and now we see the importance of their roles being acknowledged and regarded as central to the sustained success of businesses. We believe it is essential to have thorough discussions and to devise strategies regarding cyber security at board level, in the wake of the severity of potential loss that may occur in their absence,â€ said Faisal Al Bannai, Chief Executive Officer of DarkMatter. DarkMatter, a leading cyber security firm headquartered in the UAE, is the Summit Partner to IDCâ€™s flagship event.
â€œWe are pleased to support IDC at this important industry event, where the calibre of the attendees is of a very high standard, and represent precisely the type of stakeholders DarkMatter wants to engage with in respect to placing cyber security at the centre of economic activity today,â€ added Bannai.
Cyber security industry is pegged at reaching a whopping mark of $10 billion in 2019 in the Middle East and Emirates is expected to stay at the forefront of annual spending in this sector. UAEâ€™s market size is close to 40 percent of the regionâ€™s total spending.Industry experts feel that UAE needs to draft a foolproof strategy to ensure better coordination among various entities to counter cyber-attacks.
â€œToday, more than ever before, increased collaboration, communication and coordination â€“ both within organisations and across the security industry â€“ are required to effectively combat the cyber threats. UAE companies need to invest in the people, processes and technologies that will enable themselves to become more resilient to these attacks,â€ said RabihDabboussi, General Manager,