Business Extra: What did we learn from the global tech outage?



Last week, more than 8.5 million computers stopped working. The post-industrial and very much digital world in which we live, much of it anyway, came to a halt as well.

Airlines couldn’t check in travellers. Hospitals had to find new ways to help patients, and restaurants resorted to pen and paper to take reservations.

Cyber security company CrowdStrike inadvertently caused the chaos with a faulty update to its Falcon Sensor software.

That software is supposed to detect cyber attacks and prevent this sort of cataclysmic problem.

The issue was fixed, mainly within 24 hours, but its residual effects, plus the millions in economic losses, have led many to think about what action is needed to prevent another IT meltdown.

In this episode of Business Extra, host Cody Combs speaks to Igor Bershadsky, an expert in computer networking and cybersecurity, and co-founder of Dubai-based Phron AI, to discuss the tech outage that crashed global systems.

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Nayanthara: Beyond The Fairy Tale

Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni

Director: Amith Krishnan

Rating: 3.5/5

A timeline of the Historical Dictionary of the Arabic Language
  • 2018: Formal work begins
  • November 2021: First 17 volumes launched 
  • November 2022: Additional 19 volumes released
  • October 2023: Another 31 volumes released
  • November 2024: All 127 volumes completed
Results
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In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

About Proto21

Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group

Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Rating: 4/5
Updated: September 26, 2024, 6:11 AM

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