Cybersecurity has become one of the leading technical fields in the world. And at Elm, we always strive to enrich the knowledge about fields of future. Therefore, we were pleased with our fourth meeting in Elm Dewan by hosting Dr. Muhammad Al-Mushaigeh, assistant professor of information security at King Saud University, to show us an overview of cybersecurity and the opportunities for investment in this field.
A Necessity of Life
Technology today represents an important pillar in our lives in all its aspects, including computers and smartphones. We depend on these devices for communication, traveling, and business, etc…
Cybersecurity is the first line of defense for the safety of these devices. Cybersecurity is known as defense practice and protection of computers, servers, smart phones, electronic systems, networks and data from harmful attacks, and the ability to retrieve information if it is compromised or damaged.
The report of World Economic Forum 2019 stated that one of the 3 major risks facing the international community from individuals or institutions are the threats of cyber-attacks. What we are witnessing today is a huge technical development as we are entering a new era by the revolution of the Internet of Things (IoT). This revolution will increase the risks of cybersecurity immensely. According to global statistics, the average of cyber-attacks is 90 million annually. It is not limited to data loss and hacking, but it includes loopholes in operating systems, spyware, viruses, analysis of data sent, or what effects the security and stability of people's lives such as extortion and impersonation.
Cyber security in Saudi Arabia
In cybersecurity, Saudi Arabia has made a quantum leap in light of its Saudi Vision 2030. Saudi Arabia ranked 13th out of 175 countries in the global cybersecurity index as the Kingdom has established several entities that are responsible for making regulations and legislation regarding cybersecurity; aiming at enhancing infrastructure security, vital interests and national security, and building professional local capabilities. These entities are:
National Cybersecurity Authority
Saudi Federation for Cyber Security, Programming, and the Drones.
The Kingdom also recently hosted the International Forum on Cybersecurity to enhance the capabilities of the local sector and work to find new solutions and products for the threats and challenges that are facing the world.
Development and knowledge
When we talk about strengthening capabilities and learning and gaining the knowledge and awareness necessary to keep pace with the digital transformation, we must mention "Cybrary" platform, which is one of the most popular platforms in cybersecurity. It provides training courses from the entry to advanced levels. It is one of the best sources of knowledge and distance learning.
Transparent Security is one of the most promising specializations in cybersecurity because of its multiple aspects of integrating user interface (UI / UX) with cybersecurity and psychological behavior. The challenge today for specialists in balancing between ease of use and the security, in addition to the lack of classification and evaluation of devices and applications in terms of their level of security.
The cybersecurity market has grown exponentially. Therefore, investment in this field by bold capital funds is an important opportunity locally and globally, due to the increasing demand and the need for its services, as it has grown over the past 5 years by 20%. It is also expected to double during the next 5 years.
In 2019, investments in the American market of security company CrowdStrike reached $7 billion, which is a strong testament that the cybersecurity sector is one of the promising sectors that can grow and expand.