18 October 2024, Fri |
7:27 AM
After an action-packed two days filled with thrilling events and exhibitions showcasing technology’s latest advancements, GITEX GLOBAL 2024 continued its momentum on Wednesday with a focus on the pressing cybersecurity landscape. The event, held from October 14-18 at the Dubai World Trade Centre (DWTC), stands as the world’s largest and highest-rated tech gathering, celebrating its record-breaking 44th edition. This year, GITEX is set to host over 6,500 exhibitors, 1,800 startups, and 1,200 investors, alongside government representatives from more than 180 countries.
As the largest international edition of GITEX GLOBAL reached its halfway point, Wednesday was dedicated to “Cybersecurity Day.” The program featured an enlightening series of keynote speeches, fireside chats, and specialized panels that addressed the urgent challenges, emerging threats, and innovative opportunities impacting individuals, enterprises, and nations worldwide.
Addressing the Cybercrime Crisis
With global cybercrime damage projected to reach $10.5 trillion annually by 2025, the international tech community is committed to igniting a paradigm shift. This collective determination was evident at GITEX GLOBAL, where top Chief Information Security Officers (CISOs), Chief Information Officers (CIOs), and Governance, Risk, and Compliance (GRC) leaders convened with a shared mission: to establish a robust global defense against cyber threats.
In 2024, AI-driven fraud within the finance sector has surged by 40%, presenting unprecedented challenges for industry players. One of the day’s key sessions, titled “AI-Driven Digital Fraud: Safeguarding the Finance Industry’s Future,” explored how emerging technologies are being utilized to combat this evolving threat.
H.E. Dr. Mohamed Al Kuwaiti, Head of Cybersecurity for the UAE Government, highlighted the significant strides made this year, noting that the country has thwarted millions of cyber threats. He described AI as a “gamechanger” for the industry, stating, “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 for Cybersecurity & Critical Infrastructure Protection at the US Department of the Treasury, echoed this sentiment. He acknowledged the potential misuse of AI but emphasized its positive impact, stating, “The US Treasury runs the largest payments ecosystem in the 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.”
A Hub for Innovation and Collaboration
GITEX GLOBAL 2024 is also a thriving platform for innovation, with 88% of exhibiting startups making their debut at the event. So far, 230 new partnerships have been forged between local, regional, and international entities, reinforcing GITEX’s role as a catalyst for global cooperation and collaboration. Heading into Wednesday, more than 13,000 pre-arranged meetings had already taken place across GITEX GLOBAL and Expand North Star – the world’s largest startup and investment event, with more transformative solutions on the horizon.
As GITEX GLOBAL progresses, it continues to showcase the limitless possibilities and potential of technology, driving conversations around cybersecurity and innovation in an increasingly interconnected world.
