GCC nations have established themselves, of late, as leaders in cyber-readiness. Saudi Arabia was ranked second and the United Arab Emirates was fifth, in the International Telecommunication Union’s Global Cybersecurity Index of 2020. The UAE made particular strides, having leapt from 33rd in the 2019 edition of the index. And yet both Gulf nations saw spikes in cyber incidents.

“Preparing an organization’s people and culture for IT/OT convergence is critical for success, with process and workflow convergence being integral to broader IT/OT convergence plan,” explains Ton Diemont, Head of Cybersecurity & Data Privacy.

“The banking sector continued to lead the charge towards recovery in the first nine months of FY2021, thanks to sustained strong growth in mortgage finance, the total lending exposure of Saudi banks to the private sector is edging towards a phenomenal SAR 2 trillion mark,” commented Khalil Ibrahim Al Sedais, Office Managing Partner – Riyadh KPMG in Saudi Arabia.

CEOs need to have a people-first mindset — investing in new technologies and human capability. They need to be purpose-led — winning trust of stakeholders and helping build a more prosperous and sustainable world,” says Al Fozan.

The combination of old code along with the new generation of mobile apps, stack applications, and SaaS sprawl are robbing organizations of resources, time, and the ability to innovate.