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Saudi businesses have some distance to go when it comes to cybersecurity readiness: Only 1% of firms have reached the “mature stage” of overall cybersecurity readiness in 2024, according to Cisco’s Cybersecurity Readiness Index report (pdf), which assesses the readiness of organizations globally to confront cybersecurity risks. This compares with a declining global average of 3% from 15% last year in terms of the most advanced state for overall readiness as Cisco sheds light on the declining state of overall cybersecurity readiness globally in comparison with 2023.
Dive deep: 27% of local firms are at the “progressive” stage for overall cybersecurity readiness while 69% are at the “formative stage” and 3% are beginners, according to the report.
The report assesses cybersecurity readiness across five pillars, which include identity intelligence, machine trustworthiness, network resilience, cloud reinforcement, and AI fortification.
Most of the local firms surveyed by Cisco “are in the early stages” of identity intelligence readiness with 58% in the formative stage and 27% in the beginner stage. Only 2% of companies fall under the mature category, with Cisco describing the figures as “worrying given the clear threat presented by identity management.”
The majority of local companies are also at the most basic levels of readiness in terms of network resilience, with 56% at the formative stage and 10% at the beginners stage. Only 3% are at the mature stage, with 31% at the progressive stage. Cloud reinforcement (think improved cloud security) show Saudi businesses lagging begin, with the majority at the most basic levels of readiness. Only 3% of firms are at the mature stage.
Saudi businesses are doing better in one pillar than everyone else: Some 68% of local businesses surveyed are working ot understand what AI means to them in comparison to the global average of 46%, according to Cisco. Another 27% are in the formative stage, while 1% are at the beginners phase, and 4% of businesses are at the mature stage.
The PIF, meanwhile, is ahead of the game: The PIF’s Saudi Information Technology (Site) signed an agreement last month with South Korean IT solutions provider AhnLab to establish a cybersecurity joint venture. They’re looking to market cybersecurity solutions to government agencies and the private sector in Saudi and across the region and into North Africa. A wholly owned unit of Site is set to acquire a stake in the Seoul-based firm through a KRW 74.4 bn (c. USD 55.3 mn) capital injection on 27 June. Cyberani, a subsidiary of Aramco, recently partnered with French defense electronics provider Thales to bolster local digital infrastructure for cybersecurity.
