Veritas Technologies, a leading provider of secure multi-cloud data management solutions, has unveiled the regional findings of a new global survey today. The survey reveals that although nearly all (98%) of businesses in the UAE are confident in their ability to maintain security within their organizations, more than half (57%) still perceive themselves as ‘at risk’ due to the growing threats to data security.
Launched at GITEX Global 2023, the survey gathered insights from over 1,600 IT executives and practitioners across 13 countries, including 100 respondents from the UAE. Veritas’ report delves into the challenges and risks that organizations worldwide face in safeguarding their data.
Ramzi Itani, Regional Director, Middle East at Veritas Technologies, remarked, “UAE organizations have made significant strides in building robust teams to protect their data in today’s digital landscape. However, the journey to data security is continuous. While increased confidence is encouraging, it’s crucial to remain vigilant and make strategic investments. In a world with growing external threats, managing data is not just a goal; it’s essential for a resilient future.”
Despite their confidence, the research found that almost all UAE respondents (98%) reported that risks had resulted in damage to their organization’s reputation or finances in the last two years. Three-quarters (73%) acknowledged experiencing a successful ransomware attack, while 39% indicated that their organization had suffered due to data security risks, including ransomware, data loss, or data theft, with the belief that these risks will continue to rise in the next 12 months. Additionally, over the past two years, more than half (52%) had encountered data loss unrelated to ransomware attacks.
Compliance with legislation is another concern, as 23% stated they had experienced damage due to non-compliance with regulatory requirements, with 41% believing this risk had increased in the past year.
To address these challenges, UAE organizations are prioritizing investments in both technology and talent. Data protection spending has risen by a third across on-premises, public, and private cloud environments in the last year. Additionally, 77% are utilizing AI and ML technologies to enhance security, while 48% are leveraging third-party software and tools.
On the staffing front, the average UAE company has recruited between 14-16 new members for their data protection and data security teams in the past year.
As a result, most UAE organizations (73%) confirm full compliance with national and regional regulations in the last 12 months. To maintain regulatory compliance, 59% offer employee training, 48% implement role-based access controls to limit sensitive data availability, and 41% incorporate encryption and other protective measures.
However, non-compliance comes at a high cost, with 43% of UAE organizations facing penalties for breaches, with an average fine of $178,000.
Itani stated, “UAE organizations are taking on external challenges and risks head-on, backed by investments in talent and cutting-edge technology. This aligns with the UAE government’s vision to make Dubai the global leader in AI by 2031. By emphasizing talent acquisition, education, and investment in emerging technologies, UAE businesses are at the forefront of regulatory compliance and the fight against evolving cyber threats.”
The report also highlights a shift in responsibilities within IT teams, with more focus on security regulations (84%), compliance regulations (78%), and workload management (88%). More time is being allocated to cyberattack prevention (62%), SaaS/productivity (66%), SLAs/downtime prevention (61%), backup and recovery (59%), and compliance (52%).
Itani concluded, “UAE organizations are making investments in the right areas, with rising confidence levels. However, as risks continue to escalate in various domains, embracing AI and ML solutions to secure data without overwhelming human resources is essential. Striking a balance between deploying intelligence-driven technologies for data protection and acquiring the right talent for impactful transformation projects is key to maximizing the benefits of these investments.”
To learn more about how organizations can safeguard their data, ensure compliance, and facilitate recovery, join Veritas at GITEX GLOBAL from October 16th to 20th, 2023, at Stand #CC2-1, Concourse II, Dubai World Trade Center.
