Democratizing cybersecurity expertise crucial to counter AI-fueled digital crimes: Microsoft executive

Special Joy Chik, president of Identity and Access Network at Microsoft.
Joy Chik, president of Identity and Access Network at Microsoft.
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Updated 04 October 2024
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Democratizing cybersecurity expertise crucial to counter AI-fueled digital crimes: Microsoft executive

Democratizing cybersecurity expertise crucial to counter AI-fueled digital crimes: Microsoft executive

RIYADH: Democratizing cybersecurity expertise is essential to combat the rising threat of digital crimes fueled by AI tools, according to Joy Chik, president of Identity and Access Network at Microsoft.

In an interview with Arab News during the Global Cybersecurity Forum in Riyadh, Chik emphasized how AI can help bridge the workforce gap in cybersecurity.

In the first quarter of 2023, Microsoft reported a staggering tenfold increase in password-based attacks on cloud identities, escalating from 3 billion to over 30 billion per month.

The company also detected approximately 6,000 attempted cyberattacks daily over the past year, which included phishing scams and sophisticated nation-state-backed attacks targeting critical infrastructure.

“So, I think to address that, one way is to democratize the expertise in security, and that’s when Gen AI, what Microsoft would produce — the kind of copilot for security. These are the tools so that you can have the skill set to democratize and have more people enabled to leverage these tools to combat cybercrime,” Chik said. 

She added that AI can help alleviate the shortage of skilled labor in the industry. “Earlier, I talked about whether we have a shortage of cybersecurity labor, skilled laborers, if you will, and expertise, and AI is a way to democratize that.”  

“I do think it is really important that we’re not just on the defense, but also move to the offense,” Chik said. “When I say offense, it’s about secure by design, secure by default, and how we can defend against supply chain attacks.”  

Chik explained that threats range from “probably the simplest, which is attacking your credentials, passwords, or identity, to phishing attacks, and to more sophisticated, nation-state-sponsored ones, like targeting critical infrastructure.” She emphasized Microsoft’s commitment to enhancing security measures based on insights gained from real-world incidents, noting that a key aspect of the company’s Secure Future initiative is not only addressing immediate needs but also promoting a security-first mindset and culture.

Chik also highlighted Microsoft’s efforts to move toward a password-free future, stating, “We all know passwords are not secure, and yet they’re the most common way for people to log into their online services. How can we provide a simple yet more secure method for identifying individuals without requiring them to remember passwords?”

One proposed solution is passkey technology, a multi-factor authentication method developed in collaboration with Microsoft, Google, Apple, and other industry leaders.

“That is a phishing-resistant multi-factor authentication that does not require a password at all. At the same time, it uses your mobile phone, for example, but saves your credentials in a safe manner so they cannot be easily phished,” she concluded. 


Saudi Arabia surpasses Vision 2030 target of 1m volunteers ahead of time

Saudi Arabia surpasses Vision 2030 target of 1m volunteers ahead of time
Updated 05 December 2024
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Saudi Arabia surpasses Vision 2030 target of 1m volunteers ahead of time

Saudi Arabia surpasses Vision 2030 target of 1m volunteers ahead of time

RIYADH: Saudi Arabia has surpassed its Vision 2030 target of 1 million volunteers six years ahead of schedule, according to the CEO of the National Center for Non-Profit Sector.

Speaking to Arab News on the sidelines on the fourth day of COP16, Ahmed Al-Suwailem explained that the Kingdom’s volunteering journey achieved the target just prior to the end of 2024.

This falls in line with promoting the concept of volunteering and community participation in Saudi Arabia.

“Today, we are celebrating the biggest achievement that we did in terms of volunteering. Of course, I will start with my thanks and gratitude to his majesty, the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and also his Crown Prince, the Prime Minister, Prince Mohammed bin Salman bin Abdulaziz, for their unbelievable effort and support, for us, and they enabled us to achieve, this amazing target of 1 million volunteers, 1 million per annum,” Al-Suwailem said.

He added: “Absolutely, we have achieved the target earlier than we were supposed to achieve it, or 2030. We achieved it just before the end of 2024. We have achieved 1 million, as I said, per annum. We were supposed to achieve it in 2030.”

The CEO went on to say: “I think what we are going to do next is going to the 2 million or 3 million per annum.”

He added: “We are going for a further target and we are now reviewing the target again, and we’ll see what we will achieve in 2030.”

With regards to achieving the target, Al-Suwailem said: “We couldn’t achieve that unless we have this amazing, unbelievable, continuous support from our leadership and also with an enablement from our people,” he said.

He added that the public’s volunteer support is evident in their efforts, thoughts, and shared experiences.

“We are trying our best to send our message as the people of Saudi Arabia, that we are global citizens, that we can also do our volunteering internally and internationally,” he added.

The CEO also highlighted how this achievement will support the Kingdom’s Vision 2030, underlining that volunteering will play a key role in helping the company meet the objectives of the Saudi Green Initiative. The undertaking aims to diversify the economy, reduce oil dependency, and promote sustainable development.

He added: “So, this is where we complete each other as governmental entities and also private sector and the nonprofit sector.”

The CEO concluded by saying: “And of course, last but not least, people are the key element for achieving all these targets.”

The Kingdom’s hosting of COP16 reflects its commitment to protecting the planet. In the largest multilateral conference it has ever hosted, Saudi Arabia is mobilizing the world to deliver international cooperation, change, and action that our land so desperately needs.


OPEC+ extends production cuts by three months through March

OPEC+ extends production cuts by three months through March
Updated 05 December 2024
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OPEC+ extends production cuts by three months through March

OPEC+ extends production cuts by three months through March

RIYADH: OPEC+ on Thursday agreed to extend their supply cuts for three months through March to to support market stability.

OPEC+ countries, including Saudi Arabia and Russia, “will extend their additional voluntary adjustments of 2.2 million barrels per day... until the end of March 2025,” the alliance said in a statement.

A virtual meeting was held on the sidelines of the 38th OPEC and non-OPEC Ministerial Meeting.

According to the statement, the meeting welcomed the pledges made by the overproducing countries to achieve full conformity and resubmit their updated compensation schedule to the OPEC Secretariat for the overproduced volumes since January 2024 before the end of December 2024.

The alliance members will extend their additional voluntary adjustments of 2.2 million bpd, that were announced in November 2023, until the end of March 2025 and then the 2.2 million barrels per day adjustments will be gradually phased out on a monthly basis until the end of September 2026. This monthly increase can be paused or reversed subject to market conditions.

OPEC+ members are holding back 5.86 million bpd of output, or about 5.7 percent of global demand, in a series of steps agreed since 2022 to support the market.

The alliance also agreed to allow the UAE to raise output by 300,000 bpd gradually from April until the end of September 2026, instead of the earlier plan to start it in January 2025.

Despite the group’s supply cuts, global oil benchmark Brent crude has mostly stayed in a $70 to $80 per barrel range this year and on Thursday traded near $72 a barrel, having hit a 2024 low below $69 in September.


NEOM’s Topian launches pilot greenhouse for climate-resilient farming

NEOM’s Topian launches pilot greenhouse for climate-resilient farming
Updated 05 December 2024
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NEOM’s Topian launches pilot greenhouse for climate-resilient farming

NEOM’s Topian launches pilot greenhouse for climate-resilient farming

RIYADH: NEOM’s food company, Topian, has unveiled its first high-tech greenhouse in Oxagon, the industrial hub along Saudi Arabia’s Red Sea coast. 

The four-hectare facility, located in Oxagon Innovation Bay, is designed to pilot sustainable and localized food production using advanced agricultural technologies, according to a press releasae.

The greenhouse is expected to produce nearly 4,000 tonnes of fruits and vegetables annually while developing AI-driven predictive models to optimize operations in similar environments. 

This initiative is part of Topian’s broader mission to enhance food systems with sustainable practices that minimize resource use. It aligns with Saudi Arabia's ambitions to enhance food security, combat climate change, and achieve net-zero emissions by 2060, all in support of Vision 2030 goals.

“This project is exciting because this first set of high-tech greenhouses enables us to control the climate for plant growth in an environmentally friendly manner,” said Juan Carlos Motamayor, CEO of Topian. 

“It represents a positive step towards boosting regional and national food security and transforming food systems in Saudi Arabia and other arid regions affected by climate change,” he added.

The pilot will evaluate crop performance under various conditions, focusing on energy and water efficiency, cooling technologies, and radiation control. The project will leverage NEOM’s future renewable energy infrastructure to further optimize production, the release added.

Future plans include leveraging NEOM’s renewable energy infrastructure, such as its photovoltaic network, to further optimize operations.

Vishal Wanchoo, CEO of Oxagon, said: “This pilot aims to deliver, at scale, sustainably produced ingredients that NEOM residents and hospitality partners will be able to use – demonstrating an entirely localized ‘farm-to-table’ supply chain.” 

The greenhouse will provide year-round availability of locally grown produce such as lettuce, tomatoes, and strawberries, prioritizing quality and sustainability. Scientists will analyze taste, color, and texture to refine crop production for the consumer market.

Developed in collaboration with Van der Hoeven, a Dutch horticultural technology firm, the project serves as a testbed for innovative agricultural solutions. It aligns with NEOM’s broader goals to establish sustainable industries and tackle food security challenges in arid regions.

By showcasing the potential of clean technology and innovative farming practices, Topian’s greenhouse project underscores NEOM’s commitment to pioneering solutions that address global challenges and set a benchmark for future sustainable development.


Saudi Arabia launches 1st Japanese equity fund in partnership with SBI, Albilad Capital

Saudi Arabia launches 1st Japanese equity fund in partnership with SBI, Albilad Capital
Updated 05 December 2024
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Saudi Arabia launches 1st Japanese equity fund in partnership with SBI, Albilad Capital

Saudi Arabia launches 1st Japanese equity fund in partnership with SBI, Albilad Capital

DUBAI: Saudi Arabia has launched its first Japanese equity mutual fund, marking a significant step in a new partnership between Albilad Capital, the Kingdom’s largest exchange-traded fund manager, and Japan’s SBI Holdings, a leading financial group.

In a statement released on Thursday, SBI Holdings announced that the collaboration would provide Saudi investors with access to Japanese equities for the first time. At the same time, Japanese investors will be able to explore Saudi Arabia’s innovative financial offerings, including Shariah-compliant ETFs.

This partnership builds on a milestone achievement earlier this year, when SBI Asset Management— a subsidiary of SBI Global Asset Management— launched Japan’s first Saudi stock index-linked ETF, the SBI Saudi Arabia Equity Exchange Traded Fund, on the Tokyo Stock Exchange.

This new agreement further solidifies the investment ties between Saudi Arabia and Japan, contributing to the Kingdom’s Vision 2030, which focuses on attracting foreign investment, diversifying the economy, and expanding key sectors such as tourism, entertainment, and non-oil industries.

Recent developments supporting this vision include the creation of one of the world’s largest theme parks based on popular Japanese intellectual properties like Dragon Ball, as well as significant investments in major Japanese gaming companies.

Albilad Capital, the investment arm of Bank Albilad, is a key player in Saudi Arabia’s financial market and manages a significant portion of the country’s ETFs.

Meanwhile, SBI Group, which established its Middle East regional hub in Riyadh earlier this year, has reinforced its commitment to the region. The group has also teamed up with local firms to launch a regional investment fund aimed at fostering growth and innovation.

This collaboration highlights the deepening financial and economic ties between Saudi Arabia and Japan, positioning both nations for a future of shared investment opportunities.


Saudi Arabia ranks among top three globally in post-pandemic tourism rebound

Saudi Arabia ranks among top three globally in post-pandemic tourism rebound
Updated 05 December 2024
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Saudi Arabia ranks among top three globally in post-pandemic tourism rebound

Saudi Arabia ranks among top three globally in post-pandemic tourism rebound

RIYADH: Saudi Arabia has emerged as the third-fastest-growing destination worldwide for international tourism recovery in 2023, with arrivals increasing by 61 percent compared to pre-pandemic levels, according to the latest World Tourism Barometer from the UN World Tourism Organization.

The Middle East, led by Saudi Arabia and Qatar, has recorded the strongest growth globally, with international tourism recovering 98 percent of its pre-pandemic activity. Saudi Arabia’s tourism sector, a key pillar of the Kingdom’s Vision 2030 plan, is central to its broader strategy to diversify the economy away from oil dependence.

This growth is fueling efforts to boost tourism’s contribution to the national gross domestic product, with a target to raise its share from 3 percent to 10 percent by the end of the decade, aligning with the Vision 2030 objectives.

According to the Barometer, 1.1 billion international tourists traveled globally between January and September 2023, marking a major milestone in the industry’s recovery post-COVID-19.

Full recovery is expected by the end of the year, with the Middle East leading the way in growth, driven by Saudi Arabia and Qatar’s stellar performance.

Qatar, for example, saw more than double the number of arrivals compared to 2019, while Saudi Arabia's surge in visitor numbers further cemented its position as a global tourism leader.

Globally, tourism recovery has been steady across regions. Europe and Africa both surpassed 2019 levels in tourist arrivals, while the Americas reached 97 percent of pre-pandemic figures. Asia and the Pacific, which reopened more gradually, reached 85 percent of 2019 levels by September, showing continued improvement.

The Northern Hemisphere’s summer travel season was especially strong, with global arrivals nearly matching pre-pandemic levels in the third quarter.

Tourism spending has also surged. Of the 43 destinations tracked by the UNWTO, 35 reported higher tourism receipts than before the pandemic. This trend is reflected in Saudi Arabia, which has seen an increase in both visitor numbers and spending. Other countries, including Japan, Turkiye, and France, have also experienced significant growth in tourism receipts. Spain, Italy, and the UK also reported strong increases in tourism-related earnings.

UNWTO Secretary-General Zurab Pololikashvili commented: “The strong growth in tourism receipts is excellent news for economies worldwide. The fact that visitor spending is growing even faster than arrivals directly benefits millions of jobs, small businesses, and contributes significantly to the balance of payments and tax revenues in many countries.”

As global tourism recovers, Saudi Arabia continues to capitalize on this momentum to solidify its position as a leading global travel destination, while advancing its ambitious economic diversification goals.