RIYADH: Driven by the increased use of advanced technologies, most large companies in Saudi Arabia expect low levels of security threats in 2024, a threat assessment investigation has revealed.
According to the World Security Report released by London-based global security firm G4S, the Kingdom is consolidating its position as one of the best countries in the region to do business, thanks to its widespread adoption of advanced technology.
“The government’s measures to stamp down on cybercrime, along with its substantial investments in advanced technologies and digital upskilling in the context of Saudi Vision 2030, make the country an attractive hub for businesses,” said Mahmoud Mudhaffar, managing director of G4S in Saudi Arabia, in a statement.
The study found that the Kingdom had the lowest intrusion and competitor sabotage rates at 11 percent and 13 percent, respectively.
Last year, Saudi Arabia experienced lower levels of external threats related to vandalism, trespass and distributed denial of service attacks compared with the global average, the report added.
A DDoS attack is a cybercrime that involves multiple machines working together to overwhelm a target with internet traffic.
The report surveyed 1,775 chief security officers of large organizations across 30 countries, including 235 CSOs in the Middle East from the UAE, Saudi Arabia, Egypt and Jordan.
The research revealed that companies in the Middle East faced the least security threats involving violent criminals at 19 percent.
CSOs who participated in the survey opined that Saudi Arabia plans to increase its use of technologies like artificial intelligence, facial recognition and machine learning.
“In particular, it appears to be embracing the use of AI. Saudi Arabia is the second highest country in the region behind Jordan to say it will adopt AI-powered surveillance and monitoring systems at 46 percent,” said G4S in the report.
The Kingdom is also the second-highest country in the region to expect to use biometrics and facial recognition technology behind the UAE at 49 percent over the next five years.
Similarly, at 44 percent, more companies in the Kingdom plan to use internet-connected technologies and connected devices compared to any other country in the region.