As data security becomes a concern amid the rising reliance on technology, the majority of UAE businesses believe that though they possess adequate staff, they are still ‘at risk’.
New data revealed by Veritas Technologies at GITEX 2023 showed that over 98 percent of companies said that they are fully staffed, yet 57 percent believe that they are currently still at risk.
UAE’s data security strides
Ramzi Itani, Regional Director, Middle East at Veritas Technologies, said: “In today’s digital landscape, UAE organisations have taken commendable strides in building strong teams to secure their data.
“However, the path to data security is an ongoing journey. While the rise in confidence levels is encouraging, remaining vigilant and making strategic investments is paramount. In a world with increasing external threats and risks, the ability to manage data is not just a goal; it’s imperative for a resilient future.”
Key findings of the research unveiled that a whopping 98 percent of the respondents faced risks that led to reputational or financial damages in recent years. Over 73 percent fell victim to a ransomware attack and two in five revealed that their organisations suffered due to data security risks including ransomware attacks or data theft.
The risk is believed to continually rise over the next 12 months. To combat rising threats, firms in the UAE are increasing spending in technology and talent by at least a third across public and private spaces.
Almost half are looking to enlist third-party software and tools. Within the last year, on average, companies in the country have hired at least 14 to sixteen new staff members within data protection and security.
For those who fail to comply with regulations, the survey revealed that UAE companies have been penalised with an average fine of $178,000.
“Witnessing UAE organisations confront external challenges and risks head-on, bolstered by their investments in talent and cutting-edge technology, is testament to the UAE government’s commitment to making Dubai the digital economy capital of the world and the global leader in AI by 2031,” said Itani.
“By prioritising talent acquisition, education and investment in emerging technologies, UAE businesses stand at the forefront of regulatory compliance and the battle against ever-evolving cyber threats. As cyber-attacks surge in frequency and complexity, remaining laser-focussed on upskilling and technical enhancement ensures that growth is met with resilience.”
Within IT teams, a focus shift has been observed with 84 percent more focused on security regulations and 88 percent on managing workloads. Additionally, cyber attack prevention is seeing more attention alongside backup, recovery and compliance.
“It’s clear to see that UAE organisations are making investments in all the right areas, and with that, confidence levels are rightly on the rise. Yet, as staff continue to be stretched by rising risk levels across different areas, embracing AI and ML solutions that can help to secure data without adding undue pressure on human resources is key,” Itani explained.
“Organisations will reap the biggest rewards of their investments by striking a balance between deploying intelligence-driven technologies that can protect data, while acquiring the right talent to drive impactful, transformation projects to propel the business forward.”
The survey covered 1,600 IT executives and practitioners across 13 countries, including 100 respondents from the UAE.
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