GITEX Global 2024 Examines Future Cybersecurity Landscapes With Industry Experts
GITEX Global 2024, held from 14th to 18th October at Dubai World Trade Centre, showcased a dynamic array of events and exhibitions. This tech event, the largest globally, marked its 44th edition with over 6,500 exhibitors, 1,800 startups, and 1,200 investors from more than 180 countries. Participants explored both current and future cybersecurity landscapes alongside leading experts.
As GITEX Global reached its midpoint, "Cybersecurity Day" took centre stage on Wednesday. Keynote speeches, fireside chats, and expert panels highlighted pressing challenges and opportunities in cybersecurity for individuals and organisations worldwide. The event underscored the urgency of addressing cyber threats as global cybercrime damage is expected to hit US$10.5 trillion annually by 2025.
In 2024, AI-driven fraud in the finance sector surged by 40%, creating new challenges. A key session titled ‘AI-Driven Digital Fraud: Safeguarding the Finance Industry’s Future’ explored how technology is being used to tackle these threats. Dr. Mohammed Hamad Al-Kuwaiti noted that AI is pivotal in combating cyber threats and enhancing resilience against attacks.
Dr. Al-Kuwaiti stated on the 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 from the US Department of the Treasury also discussed AI's impact on reducing fraud. He said, "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."
This week saw significant collaboration at GITEX Global with many startups making their debut. Around 88% of exhibiting startups were new to GITEX Global this year. Additionally, over 230 partnerships were established between local and international entities during this period.
The event facilitated over 13,000 pre-arranged meetings across GITEX Global and Expand North Star by Wednesday. This highlights its role as a catalyst for global cooperation and collaboration among various enterprises.
The international tech community at GITEX Global demonstrated a strong commitment to reshaping cybersecurity strategies worldwide. By uniting top CISOs, CIOs, and GRC leaders, they aimed to establish a robust global defence against cyber threats.
With inputs from WAM
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