Cybersecurity innovations lead at GITEX GLOBAL 2024

After an action-packed two days at GITEX GLOBAL 2024, Wednesday showcased an incredible program focused on current and future cybersecurity landscapes, featuring insights from leading experts

Running from October 14-18 at the Dubai World Trade Centre (DWTC), GITEX GLOBAL is the largest tech event in the world, celebrating its record-breaking 44th edition in 2024 with over 6,500 exhibitors, 1,800 startups, 1,200 investors, and government representatives from more than 180 countries.

As the biggest international edition of GITEX GLOBAL reached its midpoint, “Cybersecurity Day” dominated the Wednesday agenda. The event featured a series of keynote speeches, fireside chats, and panels addressing urgent challenges, emerging threats, and innovative solutions for individuals, businesses, industries, and nations globally.

Addressing the cybercrime challenge

With global cybercrime damages projected to hit $10.5 trillion annually by 2025, the tech community is united in its mission to create a stronger defense. This resolve was evident at GITEX GLOBAL as top CISOs, CIOs, and GRC leaders gathered to discuss strategies for establishing a formidable global defense.

In 2024, AI-driven fraud in the finance sector has surged by 40%, presenting unprecedented challenges. One highlight of Wednesday was the conference session titled “AI-Driven Digital Fraud: Safeguarding the Finance Industry’s Future,” which explored how emerging technologies are being leveraged to combat this evolving threat.

Dr Mohamed Al Kuwaiti, head of cybersecurity for the UAE Government, shared insights on the impressive threat mitigation efforts in the UAE, having neutralised millions of attacks this year alone. He emphasised AI’s transformative role in cybersecurity, stating to 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, chief AI officer & deputy assistant secretary, cybersecurity & critical infrastructure protection at the US Department of the Treasury, echoed similar sentiments about AI’s benefits. He remarked, “The US Treasury runs the largest payments ecosystem in the entire world. We’ve leveraged AI models to reduce fraud by almost US$600mn in the last six months. It’s becoming increasingly critical in the counter-fraud space.”

Exploring new opportunities

With 88% of exhibiting startups making their GITEX GLOBAL debut and over 230 new partnerships formed between various entities, the event continues to serve as a catalyst for global collaboration. By Wednesday, more than 13,000 pre-arranged meetings had already taken place, with many more expected as companies unveil transformative solutions.

Huawei highlighted its critical infrastructure and cloud tech solutions, with Dr Aloysius Cheang, chief security officer for the Middle East & Central Asia at Huawei, noting that the company faces an average of 12 billion cyberattacks daily. He urged organizations to adopt a cybersecurity culture centered on security and privacy.

Kaspersky showcased its innovative Cyber Immunity approach and advanced threat intelligence solutions, while Fortinet presented products from its cybersecurity platform portfolio. Solutions by stc introduced visitors to emerging technologies that add value for customers.

Day three of GITEX GLOBAL 2024 also featured exciting activations and conferences at GITEX Cyber Valley, the premier cybersecurity exhibition hosted by the UAE Cyber Security Council. A highlight session featured Brett Johnson, a former cybercriminal turned expert, who shared insights during “Scamming the Scammer: Inside the Mind of a Cybercriminal.” Live Hacks showcased ethical hackers performing AI-powered hacks, while Santiago Lopez, the world's first million-dollar hacker, provided guidance on turning hacking skills into a profitable career in another engaging session.

Looking Ahead

GITEX GLOBAL 2024 continues Thursday with “Data Centres Universe,” bringing together thought leaders to discuss the future of data management and infrastructure. Sessions will explore the latest data technologies and sustainable energy solutions, emphasising data centres' crucial role in supporting the rapid growth of digital services.