In an interview with Integrator Media, Naji Salama, CEO at IT Max Global discusses the UAE’s strategic investment in data security, which is set to reach $1.8 billion in 2024, a significant 15% increase from the previous year. The discussion highlights the critical drivers of this growth, including heightened cyber threat awareness, evolving regulatory frameworks, and the ongoing digital transformation across industries. She also sheds light on the substantial financial impact of cybercrime in the region, revealing losses estimated at $1.4 billion annually. Naji delves into prevalent fraudulent schemes targeting financial document handlers and emphasize the importance of integrating AI and machine learning to mitigate cyber risks.

With data security being a global issue and concern, what do you think is the value of UAE spending on data security in 2024 and how does this compare from last year (2023)?

There is a much stronger focus on data security spending here in the UAE. Projections show the UAE will reach around US$1.8 Billion dedicated to data security in 2024. That is a significant jump, with a growth rate of about 15% compared to last year.

There are a few key drivers behind this increase. First, there’s a heightened awareness of cyber threats. Businesses are more aware than ever of the potential damage cyberattacks can cause. Regulatory requirements are also playing a role,with stricter data protection laws coming into effect. And finally, don’t forget the ongoing digital transformation across many sectors. As companies move more of their operations online, the need for robust data security becomes even more critical.

The increase in data security spending reflects a strong commitment from UAE Government and businesses to safeguarding their digital assets. It is a positive trend, and it shows that companies are taking the cyber threat seriously.

What is the value of cybercrime losses suffered by companies in the UAE every year?

Unfortunately, it is difficult to pinpoint an exact figure. There are so many factors at play, and many cyber incidents go unreported. However, based on industry reports, estimates suggest cybercrime losses could be in the billions of dirhams annually. One recent estimate we’ve seen is US$1.4 billion. This highlights the importance of robust cybersecurity measures.

What are the most prominent fraudulent schemes targeting UAE employees dealing with financial documents?

In the UAE, we find that employees dealing with financial documents are increasingly targeted by sophisticated phishing and Business Email Compromise (BEC) schemes. Phishing is a deceptive practice where attackers impersonate legitimate entities. Business Email Compromise (BEC) is when cybercriminals fake (spoof) an email’s sender address to pose as executives or trusted partners, instructing employees to transfer funds or share confidential data. One recent case we have had to deal with was for a large enterprise where cybercriminals posing as the CEO had managed to get someone in finance to wire north of 500,000 AEDs to their account. We’ve also noticed that ransomware attacks have become more prevalent, where malicious actors encrypt crucial financial documents and demand a ransom for their release. On top of the robust security countermeasures provided to our customers, we also provide interactive security training for personnels. We believe that educating employees about these schemes is essential in mitigating these risks.

What are the best directions of data insurance services in UAE 2024?

Data insurance is certainly evolving rapidly, and we are seeing some exciting developments here in the UAE. One of the key areas I see is a move towards more comprehensive coverage. In the past, data insurance might have just focused on data breach notification. But today’s businesses need protection from a wider range of threats. We’re talking ransomware attacks, business disruptions due to cyber incidents, and even privacy violations. The best data insurance products will offer that broader shield.

Integration with cybersecurity solutions is a critical trend in data insurance. Direct links between data insurance and security infrastructures can offer discounts for strong security or bundled services, boosting cybersecurity resilience. With the rise of cloud computing, data insurance must adapt to address unique cloud security challenges. As the market matures, expect more standardized policies, increasing transparency and consistency. These trends make data insurance more valuable and relevant.

How are AI and machine learning technologies integrated into the tech companies’ environment to reduce cybercrime?

AI and machine learning are becoming game-changers in cybersecurity. For example, these technologies allow the security experts at IT Max to analyze vast amounts of data – such as security, hardware or network logs – in real-time, helping to identify suspicious activity and potential breaches much faster. They can also be used to develop adaptive security systems that can learn and adjust to new threats as they emerge. Additionally, AI can automate many routine security tasks, freeing up IT teams to focus on strategic initiatives and incident response.

In short, I would say AI has allowed companies and security providers like IT Max mount much more proactive and adaptive defenses against cybercrime.

What are the most significant weaknesses of enterprises and companies causing increased cyberattacks?

There are a few key areas.  One is unpatched vulnerabilities.  If companies do not keep their software and systems updated with the latest security patches, they are leaving gaping holes for attackers to exploit. This is why “patch management” is one of our core managed security services, where we handle this on behalf of our clients as seamlessly as can be. Another big issue is weak password management.  Employees often reuse weak passwords across multiple accounts, making them easy targets for brute-force attacks and/or leaks over the dark web or other channels used by malicious actors.

Some companies, more often the smaller ones or the ones without a dedicated cybersecurity team, simply don’t have adequate security measures in the first place. This could mean lacking firewalls, intrusion detection systems, or other essential security controls. That’s why it is crucial for such entities to partner with a managed security provider such as IT Max.

Larger enterprises face unique threats, with numerous entry points for attackers. Inadequate segmentation in complex IT infrastructures enables lateral movement within networks. The biggest challenge is a lack of awareness, as data breaches often stem from human error or exploitation. Untrained employees can fall prey to malicious links or inadvertently share sensitive information, highlighting the necessity of investing in cybersecurity education.

On the special occasion of Emirati Women’s Day, Integrator Media had an exclusive interview with Maryam A Hassani, Co-founder & CEO at Zealous.

How did you start your career in technology? What was your journey like at the beginning, and how has it evolved over time?

After graduating from NYU Abu Dhabi, I started my career as a strategy consultant at one of the big four firms. My gravitation toward innovation and startup projects provided me with the opportunity to lead the Special Olympics Innovation Challenge and play a key role in the MBRIF Accelerator Program.

Over the years, I’ve supported more than 45 diverse companies in localizing and establishing themselves in the MENA region. I’ve always been passionate about the emerging tech ecosystem in MENA, from designing startup programs to supporting the localization of startups, and now, being a startup founder myself.

I’m driven by the mission to solve today’s most pressing challenges with technology. I believe that leveling the playing field in software development through AI will unlock substantial opportunities for entrepreneurs with similar goals.

Was there a specific challenge you faced early in your career that you’d like to share with our readers?

From the start of my founder journey, I knew I wanted to build a product leveraging emerging technologies, but as a non-tech founder, my ability to build and experiment was limited.

Initially, I explored working with regional software development firms, but any experienced founder knows that’s not the best approach. These firms are focused on delivering products ready for the market, but building a new venture is a journey of learning and iteration. You need to start with an MVP that addresses a significant problem and test it in the market. What I really needed was a technical co-founder with the expertise and the same level of commitment to the mission as I had.

Can you tell us a bit about your team at Zealous and the story behind the creation of Zealous?

My co-founder and I met at a leading international tech event, where we bonded over our shared passion for making professional networking intentional, easy, and meaningful in emerging tech scenes.

The mission of Zealous has always been to answer the question, “How can we leverage AI to help people?” Initially, it was about making it easier to connect with like-minded entrepreneurs in emerging tech markets. Today, we have two products in the market that are free to use:

1. Zealous Social App for professionals to find, meet, and stay connected with connections on the go.
2. Zaia AI Event Assistant for professionals to get personalized, real-time suggestions on how to collaborate with the connections they make at events.

As a bootstrapped company, our journey led us to develop an in-house AI code generation and testing framework, Zealous TenX, to help us meet the demands of building and iterating our software products in the most time- and cost-effective way. Using it ourselves, we quickly realized we were onto something significant with this framework.

Now, our focus is on supporting software developers and companies in developing products faster, reducing overhead costs, and maintaining quality code as they scale. We are still very much serving the emerging tech space, just from a different angle and addressing a more pressing problem in the market.

What initiatives has Zealous implemented to support the advancement of women in technology?

We are passionate about helping people connect better, especially in emerging markets in the Middle East. Women globally are roughly 25-30% less likely to network effectively and meet the right people.

I dedicate time to mentoring and supporting university entrepreneurship programs to encourage young women and aspiring founders to pursue their ideas. I also make an effort to demystify what it really means to build a startup. I wish someone had done this for me sooner. I share my learnings as a female Arab founder and my findings from the emerging tech space, with the hope that they can learn and be better off as a result.

How is Zealous leveraging AI to help women expand their networks? Additionally, what other functionalities and features does Zealous offer?

Both female and male entrepreneurs can benefit from Zealous’ professional networking products by connecting with others in the space. Creating intentional and meaningful connections today is challenging; at events with potentially thousands of attendees, it’s difficult to remember every face and every business card. We simplify this process, enabling event networkers to scan business cards or LinkedIn QR codes instantly and automatically save details such as where they met, the person’s role, their organization, and the intentions for the meeting.

Women generally need to know more about an individual before they feel confident reaching out or engaging in conversation. Our products take that into account. Although our products are not exclusively for women, the user experience and intention-based features are optimized to suit cultural and social norms.

Moreover, knowing that women founders don’t get as much capital investment (female-founded startup investments dropped by 64% in MENA in 2023), our code generation product helps them get a foot in the market with lower overhead costs.

What advice would you give to young Emirati women aspiring to careers in technology?

I would advise other women on their tech founder journey to focus on identifying a worthy problem to solve first, rather than starting with company setup.

The journey of any tech startup founder is challenging, from finding a problem worth solving to developing a viable solution for a large enough market that customers will pay to use. Given the time and resource intensity, I strongly recommend finding a problem that intrigues you and that you want to explore deeply.

Unfortunately, raising VC funding as a female founder is especially difficult, so be mindful of monthly spending and subscriptions. Also, make use of the support available, such as programs and incentives in the UAE that help reduce startup costs.

In an exclusive interview with Integrator Media, Mr. Hesham Tantawi, Vice President at ASBIS Middle East delves into the dynamic world of ASBIS. With a remarkable 32-year partnership with Seagate and a strong focus on emerging technologies like AI and robotics, ASBIS has consistently demonstrated its commitment to innovation and success. From developing autonomous cleaning robots around iconic landmarks like Burj Khalifa to showcasing innovative solutions such as Robo-Cafe and Robo Beverage kiosks, ASBIS exemplifies its slogan, “Success Through Focus.”

How has the consumer electronics and IT industry evolved over the past decade? What key changes stood out to you?

The consumer electronics and IT industry is incredibly dynamic, constantly evolving in tandem with technological advancements that outpace developments in many other fields. When we first ventured into this business, the product life cycle was incredibly short—just six months before a new product would emerge. Despite this rapid pace, ASBIS has successfully navigated these changes and remained a key player in the industry. This experience has underscored the need for our operations to be faster and more efficient than those in other industries worldwide, especially because we deal with the ever-changing technological landscape.

Today, we’ve reached a point where we can predict with remarkable accuracy which products will be in demand in the coming year. This capability is a significant differentiator for ASBIS. We pride ourselves not just on selling technology but on leveraging it internally to forecast market trends and anticipate the needs of our partners and customers. By doing so, we ensure that we stay ahead of the curve in this fast-paced industry.

Which indicators does ASBIS monitor to stay ahead of market trends? And how do they influence your strategy decisions?

At ASBIS, we conduct a thorough analysis of the market and the products we offer to ensure we have a deep understanding of what we are selling. We consistently predict market developments a year in advance, allowing us to stay ahead of trends. These predictions are crucial to our strategy, enabling us to map markets effectively, understand the needs of our partners, and identify where the market is headed. By doing this, we can introduce the right product to the right audience at the optimal time.

Our approach heavily relies on advanced technology for forecasting, market mapping, and supply chain management. We use these tools to gain insights into consumer behavior and to ensure that we are always in tune with market demands. This strategic foresight allows us to remain agile and responsive, making informed decisions that keep us competitive in an ever-changing landscape.

What strategies does ASBIS use to identify and provide the right solution for partners, ensuring alignment with market demands and profitability?

ASBIS is deeply committed to our partners, and we continuously strive to adapt and grow in ways that meet their evolving needs. Our primary focus is on creating the best possible environment for business success and profitability for all parties involved. We achieve this by delivering solutions that are perfectly aligned with current market demands and by fostering long-term relationships built on trust and mutual growth.

For instance, we recently celebrated a 32-year partnership with Seagate Technology, a relationship that is a testament to our commitment and strategic collaboration. We are among the few distributors that have been with Seagate since the beginning, helping them grow their business, open new markets, and serve regions that are difficult for others to reach. This enduring partnership highlights our ability to not only meet market demands but also to help our partners thrive in a competitive environment.

How is ASBIS preparing for the growing integration of robotics and AI in the IT industry? Can you provide some examples of adapting to these technological advances?

The integration of robotics and AI into the IT industry represents one of the most significant technological advancements of our time, and ASBIS has been at the forefront of this movement for the past three to four years. We’ve actively participated in numerous AI projects, including those related to robotics, recognizing that these technologies are not just trends but transformative forces that will shape the future of our industry.

Robotics, in particular, is an area where we see tremendous growth potential. Over the last few years, we’ve invested in a company called AROS, which is a manufacturer, system integrator, and design house for various robotics solutions. This investment has enabled us to introduce cutting-edge robotics technologies to the market in the UAE, including cleaning robots that operate autonomously around the Burj Khalifa. These robots clean the area at night and return to their docking stations without human intervention, showcasing the practical applications of robotics in everyday environments.

In addition to cleaning robots, we are also pioneering other innovative solutions such as Robo-Cafe and Robo Beverage kiosks, which will be showcased at upcoming GITEX Global event in October. Furthermore, we are heavily involved in warehouse automation, deploying robots that automate various processes within warehouses, thereby improving efficiency and reducing operational costs. These examples illustrate our commitment to embracing and advancing AI and robotics technologies in a way that adds value to our partners and customers.

How does ASBIS maintain and leverage strong partnerships for mutual growth, especially when balancing long-standing relationships with major brands like AMD and Intel?

At ASBIS, our motto is “Success Through Focus” which encapsulates our approach to managing and nurturing our relationships with major technology brands like Intel, AMD, Logitech, Seagate, Western Digital, and Toshiba. Each of these partnerships is built on a foundation of trust, dedication, and a shared commitment to success. We have dedicated teams for each vendor or partner, with a laser focus on achieving success in their specific areas of expertise. For instance, one team may concentrate on advancing Intel technology, while another focuses on expanding AMD’s market presence.

Our partnership with AMD spans over 20 years, a period that has seen both companies grow and evolve together. This enduring relationship is a testament to the strength of our collaboration and our ability to deliver consistent results. Similarly, our partnership with Intel has been a cornerstone of our business for more than 26 years. These long-standing relationships are not just business arrangements; they are strategic alliances that have been nurtured over decades, and they play a crucial role in our continued success.

Our “Success Through Focus” strategy is integral to maintaining these partnerships. By dedicating resources and expertise to each partner, we ensure that we can meet their needs and exceed their expectations, which in turn drives mutual growth and success.