Despite ongoing efforts, the GCC region continues to face cyber threats leading to costly data theft and downtime for large and medium-sized enterprises, including critical organizations. The region has witnessed a significant increase in email and ransomware attacks, with email-based phishing attacks rising by 464% in 2023 compared to 24% in 2022 per organization.
As AI-driven solutions have become increasingly useful in enhancing threat detection and automating responses, hackers are also leveraging AI to heighten the speed and scale of their activities. This includes the use of generative AI to develop more sophisticated malware and phishing messages.
Cyber protection experts predict that enterprises in the region will increase their IT budgets to cope with the demand for effective solutions. According to Gartner, IT spending in the Middle East and North Africa region is forecast to grow by 4% to reach US$183.8 billion in 2024, up from US$176.8 billion in 2023. This trend is expected to drive organizations to invest more in software and IT services such as cybersecurity and improved data management to secure their digital assets.
