Generative artificial intelligence is significantly affecting business spending on security, but misjudged investments may create a false sense of security that makes companies more vulnerable to threats, a senior executive of Palo Alto Networks has said.
While it is important for organisations to invest in protection, there is not always a direct correlation between the size of these investments and the level of protection gained, Ercan Aydin, regional vice president for the Middle East and Africa, told The National on the sidelines of the Gitex Global technology conference.
"There are various reasons for this, including organisations making investments in a large number of overlapping and often incompatible technologies. In this scenario, an organisation would typically face higher costs just to manage its complex security set-up," he said in an interview.
"Yet, the result would be patchy security, leaving them at risk of a serious security breach. A holistic, integrated approach offers greater security and cost efficiency."
Mr Aydin's warning follows a new study from the California-based cyber security company which showed that 97.6 per cent of chief executives and top-level managers in the UAE plan to increase their spending in artificial intelligence to safeguard their systems.
In the study of 250 respondents last month, they acknowledged a significant increase in cyber threats, with about 63 per cent reporting a higher number of attacks compared to 2023, and 14 per cent saying they experienced the same level of breaches compared to last year.
On the other hand, enterprises in the Emirates appear confident that they can improve their cyber security with AI, with 94 per cent saying they trust the effectiveness of AI tools in detecting or mitigating threats compared to traditional means, the report said.
In addition, concerns over the implications of using AI were highlighted. Half of respondents said they were worried about privacy issues, while 48 per cent were concerned about the potential misuse of AI and 45 per cent were wary about costs.
"AI is a broad term, encompassing a range of technologies including generative AI, machine learning and natural language processing, each of which can be used for good or bad in various ways," Mr Aydin said.
"In this light, it is not surprising that business leaders in the UAE have concerns about the potential implications of AI, because, in fact, everyone is still wrestling with this issue."
AI has long been used by enterprises for activities including cyber security. The birth of generative AI, made popular by OpenAI's ChatGPT last year, accelerated the technology's use.
However, with its rise came new threats. In a 2024 blog, Palo Alto identified six common, yet potentially dangerous, AI-induced cyber attacks: conducting reconnaissance, enhanced social engineering, malicious code development, automated vulnerability exploitation, deepfake attacks and prompt injection.
The first two are acts of gathering information on intended targets and tricking users with highly-polished phishing e-mails. All cases, however, share a common denominator: AI, generative AI in particular, can be used to prevent them, inasmuch as it can cause harm.
"The technology is being widely exploited by cyber criminals, leading to a surge in complex automated attacks. At the same time, cyber security specialists are also using AI to transform and improve security with the aim to always be one step ahead," Mr Aydin said.
Palo Alto's study showed that 90 per cent of senior executives in the UAE had already engaged AI for cyber security, with more than half saying they had made extensive implementations and 38 per cent having made limited deployments.
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How to get exposure to gold
Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.
A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.
Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.
Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.
London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long
However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.
The biog
Name: Abeer Al Bah
Born: 1972
Husband: Emirati lawyer Salem Bin Sahoo, since 1992
Children: Soud, born 1993, lawyer; Obaid, born 1994, deceased; four other boys and one girl, three months old
Education: BA in Elementary Education, worked for five years in a Dubai school
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
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GMC Sierra Denali 1500
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Killing of Qassem Suleimani