Features
Key Business Risks Behind the Internet of Things
Written by: Joe Robertson, Director of information security and EMEA CISO at Fortinet
Digitization is transforming how businesses operate. This transition is often referred to as the Fourth Industrial Revolution or Industry 4.0 because it represents the fourth manufacturing revolution. The first industrial revolution was mechanization, the second was mass production and assembly lines using electricity, and the third was the adoption of computers and automation.
Now the Fourth Industrial Revolution is upon us, with the digital transformation of businesses largely consisting of automation, artificial intelligence (AI), and rapid technological innovation. Industrial processes and machines are becoming smarter and more modular, with automation and data exchange that include the Internet of Things (IoT) and the Industrial Internet of Things (IIoT). These smart, always-connected devices provide real-time contextual information with low overhead to optimize processes and improve how companies and individuals interact, work, and live.
It’s no wonder McKinsey estimated that investments in IoT technology would grow at a rate of 13.5% throughout 2022. This growth in IoT is contributing to an escalating explosion in production and industrial data. This data is being collected and analyzed to improve productivity, monitor activity, and enhance predictive maintenance. With so much business-critical data passing through IoT and IIoT devices, organizations must take measures to secure their technology.
Why is IIoT Security Important?
Digital has not gone unnoticed by cybercriminals, who seek to exploit IoT and IIoT as weak links in the data chain. The increasing volume of structured and unstructured data being generated by these devices, and their oftentimes anomalous behavior spanning across global ecosystems challenges even the best organizations. Further complicating the situation is that many of these devices are wireless (WLAN or 5G) and often have communication channels to their manufacturers for maintenance and troubleshooting purposes, which can make them a potential backdoor into the production network.
Most organizations are not well prepared for IoT and IIoT device vulnerabilities. The ubiquitous interconnectivity among devices, users, and distributed networks presents a substantial challenge for traditional siloed security solutions. Focusing defenses on a single point in the network is becoming increasingly ineffective. The lack of single-view visibility across devices, users, and the entire network creates blind spots that cybercriminals can exploit. According to a study conducted by EY, almost half of enterprises indicate they are concerned about their inability to track security across their IoT and IIoT assets, keep them virus-free, and patch vulnerabilities. This complexity is exacerbated by comingling IIoT devices with wired devices on the same network segments and can lead to uncertainty as to exactly what is connected where.
IoT and IIoT Security Risks to Be Aware Of
From a security perspective, IoT and IIoT devices present several risks. One problem is that most of these devices were not designed with security in mind. Many of them are headless, which means they do not have a traditional operating system or even the memory or processing power required to include security or install a security client. In addition, an alarming number of devices have passwords hard-coded into their firmware.
The result is that many IoT devices cannot be patched or updated. And even when security can be installed on the device, the underlying installed software is often cobbled together from commonly available code or is untested, which means that most installed security tools can be circumvented by exploiting a wide range of known vulnerabilities. Additionally, most IIoT and IoT devices have limited or no configurability. And when devices are compromised, most IT organizations admit they are unlikely to be able to detect the event before it impacts systems and data.
How to Mitigate IoT and IIoT Security Risks
It is important to view IIoT as part of your broader security environment rather than as isolated units. Here are a few additional recommendations for securing this technology:
- Segmentation of the production environment, with all IIoT and wireless devices in segments outside of the SCADA or ICS network. In many cases, micro-segmentation should be performed to further restrict communications between devices to further isolate and confine them to only authorized communications.
- Network Access Control for accurate information on what is connecting to the network and verification of each device’s security posture before allowing it to connect.
- Security must be redesigned to provide seamless visibility on what is happening across all networks and devices, from IoT to multi-cloud networks.
- Because of the minimal intelligence and security functions included in most IIoT devices, an Intrusion Protection System upstream of these devices should be used to detect attacks on known exploits and to provide “virtual patching” of devices that cannot have software updates applied.
- Security monitoring and management must be done through a single console. Enterprises must be able to see all devices, assess risk levels, segment traffic, and assign policies across the entire network in real-time. This should include both production and IT networks to reduce the risk of attacks on IT resources propagating into the production network, and vice-versa.
- Active protection solutions against unknown threats should be deployed, including sandboxing technology (to determine if files, attachments, or other code is malicious or not), and deception technology, (also known as honey pots), to attract attackers, confirm their presence in the network, and expose them to tools to block and eliminate them.
- Zero trust access can provide simple, automatic secure remote access that verifies who and what is on your network and secures application access no matter where users are located.
- Security solutions should automatically adapt to network changes, anticipate threats, interpret and implement business language commands, and interoperate in a cybersecurity mesh architecture to share threat intelligence and proactively coordinate responses to threats across all security devices and network ecosystems.
Going Forward
Unfortunately, IIoT devices are typically not designed with security in mind, and finding ways to secure every device on your network is daunting. Because of this, organizations must take immediate action to protect their systems from attack.
A new generation of tools is helping organizations meet today’s ever-expanding attack surface, delivering not only visibility of the network environment, but also enforcement and dynamic policy control. Whether devices are connecting from inside or outside the network, they can automatically respond to compromised devices or anomalous activity.
Fortinet has developed products, services, and tools that directly meet the operational and regulatory requirements of industrial and manufacturing networks. The expansive Fortinet Security Fabric platform offers a cybersecurity mesh architecture approach that includes centralized management and a unified context-aware security policy that provides complete visibility and granular control over the entire organization.
Features
2025 Hospitality Tech Trends

By Prince Thampi, Founder and CEO, Hudini
As we approach 2025, the hospitality industry is poised for transformational growth, driven by evolving traveller preferences and advancements in technology. The future of hospitality promises enhanced convenience, personalisation and sustainability, with a significant focus on creating memorable experiences for guests. Let’s dive into five key trends that will shape the hospitality tech landscape in 2025 and beyond.
- The Continued Rise of Frictionless Technology
The increased demand for frictionless experiences is set to dominate the industry, with more and more travellers preferring hotels that offer touch-free check-in, check-out, and room access via mobile apps. This trend reflects a broader shift towards easy interactions powered by seamless digital integration. Mobile apps have been an essential tool for a few years now, enabling guests to manage their stays, order room service, and access hotel information effortlessly. With the introduction of Gen AI, those apps have become more powerful than ever and are now able to provide highly personalised recommendations and speak in different languages.
Hotels embracing this trend will gain a competitive edge, as tech-savvy travellers prioritise convenience and efficiency during their stay. According to a recent survey by Deloitte, around 72% of travellers are more likely to choose a hotel that offers mobile check-in and check-out services over those that don’t.
- Hyper Personalised Guest Experiences
In 2025, personalisation will continue to be at the core of hospitality services but will finally be taken to the next level thanks to Gen AI. Guests expect hotels to anticipate their needs and offer tailored experiences, from customised room settings to personalised dining recommendations. Apps powered by AI are now able to predict guest needs based on a wealth of data, ingested from the hotel systems or fed externally.
Leveraging guest data and insights, hotels can create unique offerings that cater to individual preferences. This level of personalisation not only enhances guest satisfaction but also fosters loyalty and repeat bookings. According to Oracle’s findings, biometrics and AI are set to play pivotal roles, with 62% of guests valuing automated recognition for personalised interactions. Biometrics will experience a breakthrough into mainstream hospitality in 2025. Facial recognition technology has matured significantly and is ready to be weaved into the guest experience. It will enable better security and guest recognition while protecting their privacy at the same time.
- AI-Enabled Customer Service
Artificial intelligence is revolutionising every aspect of the hospitality industry, but will be by itself a new way of providing customer service. Chatbots and virtual assistants are becoming standard tools for handling common queries, offering instant support, and streamlining operations at any time and in any language.
AI-driven solutions not only enhance efficiency but also provide guests with 24/7 assistance, ensuring a smoother and more satisfying experience. By integrating AI technologies, hotels can free up staff to focus on delivering exceptional in-person service.
- Sustainability and Eco-Friendly Practices
Sustainability is no longer optional, it’s a necessity often enforced by regulation. Travellers are increasingly favouring hotels that adopt eco-friendly practices, such as using locally sourced food, implementing energy-efficient operations, and reducing waste.
By prioritising sustainability, hotels not only meet guest expectations but also contribute positively to the environment. This commitment to green initiatives enhances brand reputation and attracts environmentally conscious travellers. A recent survey by Booking.com found that 83% of global respondents believe more sustainable travel is vital, with 49% believing there aren’t enough sustainable travel options and 53% saying they get annoyed when a hotel prevents them from being sustainable.
Smart use of technology is key in the sustainability journey of hotels. Technology can accurately measure the reduction in carbon footprint, it will help reduce energy and adopt renewable energy sources, and will enable the effective management of food waste. Many hospitality apps allow guests to apply green energy settings to a room, some will even exchange your energy savings to loyalty points.
- The return of ‘real’
With Gen Z – the first generation grown up with everything digital – becoming the next large group to travel, the craving for ‘real’ experiences is bigger than it ever was. Hotels focusing on truly unique and hyper local experiences; a great meal, cultural outing, or wellness treatment will win the hearts of this generation.
Fortunately hotel apps, AI, automation of processes, sustainability tech and the removal of cumbersome processes like checking-in and studying paper manuals will free up hotel staff to allow them to do what they do best: providing unforgettable, personalised and sustainable experiences.
Features
With DMTT into effect from Jan 1st, 2025, a tax expert explains everything businesses in Bahrain need to know!

Last September, the Kingdom of Bahrain introduced a new law to implement a Domestic Minimum Top-up Tax (DMTT) at a rate of 15% on businesses operating in the Kingdom that meet certain criteria.
With the new tax into effect in time for the new year, Mr. Nilesh Ashar, an international tax specialist with more than 25 years of experience, serving as Senior Managing Director & Head of Tax Middle East at FTI Consulting, provided a comprehensive overview of the new law and its implications for businesses in Bahrain.
Mr. Ashar stated that the Kingdom’s decision is a significant milestone in the Middle East, with Bahrain emerging as a front runner to implement the DMTT on large multinational enterprises (MNEs) having presence in the Kingdom.
“The new law underscores Bahrain’s international commitment as part of the inclusive framework of the Organization for Economic Cooperation and Development (OECD), to address base erosion and profit shifting by MNEs,” stated Mr. Ashar.
“Effect from January 1st, 2025, onwards, the law is largely based on the OECD Model Rules on global minimum tax (GMT) in terms of calculation of the tax, exclusions, and reliefs. Additionally, the new law contains specific provisions on procedures, enforcement, and anti-avoidance measures applicable in the Kingdom.”
While explaining who will be affected by this tax, and what the law actually entails, he added that the new law applies a 15% tax on the income of Bahrain entities (including permanent establishment, joint venture, and JV subsidiaries) that are part of an MNE group with annual consolidated revenue exceeding €750 million, for at least two out of four preceding fiscal years. However, the tax does not apply to foreign subsidiaries of a Bahraini-headquartered group or other foreign group companies that are part of the same MNE group. The DMTT is also not applicable to certain excluded entities as specified in the law, including government bodies, international organizations, non-profit organizations, sovereign wealth funds, pension funds, and certain investment funds.
Mr. Ashar explained that the law lists specific transitional and permanent reliefs from the levy of DMTT, including transitional country-by-country safe harbor relief, exclusion for the initial phase of international activity, de-minimis exclusion, and simplified computation safe harbor relief.
Describing key considerations for businesses, Mr. Ashar said that, detailed rules (Executive Regulations) are expected to be published in the coming months, it is now imperative for businesses to assess the impact of the DMTT on their Bahrain presence, evaluate the availability of any reliefs, and prepare for the compliances to be undertaken based on the law read in conjunction with the OECD Model Rules.
Mr. Ashar described, “In terms of taxable income, this is defined in the law as the financial accounting net income or loss for the fiscal year, before making any consolidation adjustments eliminating intra-group transactions, in accordance with the local accounting standards. Detailed rules on calculation of taxable income will be prescribed in line with the OECD Model Rules. Several compliance obligations are specified in the law including obtaining a registration, filing of annual tax returns, and paying taxes in advance over the relevant fiscal year. These compliances are expected to be in addition to the notifications and filings as required by the MNE Group under the OECD Model Rules.”
In addition, the law also provides specific provisions on enforcement via conduct of tax audits, assessments and procedures in relation to litigation and appeals. Mr. Ashar noted that a Tax Objection Committee will be formed for this purpose. Also, penal consequences are laid out in case of defaults, like failure to obtain registration, file tax returns, or submitting incorrect data. Such defaults may trigger stringent administrative fines, without prejudice to criminal liability.
Mr. Ashar further explained that a general anti-avoidance rule empowers the National Bureau of Revenue to disregard any transaction if it is not genuine or its primary purpose is to obtain a tax advantage against the objective of the law. Furthermore, the law specifies certain acts to qualify as ‘tax evasion,’ resulting in onerous consequences including criminal liability for legal persons, if held responsible for such evasion. Dispute resolution through a settlement process is acknowledged.
Mr. Ashar concluded that the Executive Regulations to the law are yet to be issued and are expected to prescribe detailed rules, controls and manner of calculation and application of DMTT in a manner consistent with the Model Rules. He also noted that since the law is published in the Arabic language, his views are based on an unofficial translation of the law.
Cover Story
Trump’s Deregulation Bets, AI Shakeups, and Digital Assets: 2025 in Focus

By Koen Ripping, CEO, Affor Analytics
It is that time of the year again when your mailbox gets filled with outlooks for 2025 from all sides. And it’s no surprise that, again, the year’s outlook comes with a high degree of uncertainty. I’ll refrain from actually giving targets this time, as you can read them from any Wall Street’s bank outlook. And mostly, because it’s hard to get them right. In the past eight years, actual market returns were outside the range of all forecasts compiled seven times, of which the market outperformed five times (source: Bloomberg).
Still, a good case can be made for uncertainty this year. If Trump actually holds up to some of his statements, we could see deregulation on multiple aspects, lower corporate taxes, and of course, tariffs. This will obviously not only impact the US, but could affect economies globally through tit-for-tat tariffs or, for longer term effects, geopolitical actions. Our expectation is that deregulation will happen, and this will feed into a more accommodative and friendly environment for small-to-midsize companies.
This does, however, not mean an end to the Magnificent Seven’s dominance for the coming year. The driver of the outperformance has been a superior earnings growth compared to the rest, which was 33% for Mag7 in 2024 compared to 3% for the rest resulting in an outperformance of around 24% (depending on when you read this). Consensus earnings growth for next year for Mag7 and the rest are respectively 18% versus 12%, resulting in an expected outperformance of 8% for the megacaps from our equity team.
Lower corporate tax could be a potential bull case for the US market, but given the wider pro-growth strategy from the new Trump administration, we don’t see much room for this. Then tariffs are the most significant risk on the otherwise good growth outlook, but we are not expecting an outright tariff war. The tactic will probably be precisely targeted tariffs, where we see an increase in China tariffs and possibly auto tariffs on the EU and Mexico, so retaliatory tariffs will also be the answer. This would add a one-time premium on price levels, as we’ve seen in the first Trump administration, but doesn’t feed through to sustained inflation.
In general, both in the US and EU, continued easing is expected, with falling policy rates supporting economic growth in both areas. This, together with policymakers poised on enhancing growth, and with companies having, like we say in Dutch, cash that is splashing against the baseboards (flush with cash), builds towards a bull case for 2025. Amongst other trends, this will also flow towards three trends I am most familiar with: Digital Assets, Artificial Intelligence, and M&A.
Digital assets – A serious asset in 2025

2024 has been a good year for digital assets. Especially for Bitcoin, where the new BTC spot ETF cleared the way for institutional investors and others that were bound from trading on less conventional exchanges. This inflow of capital made the BTC ETFs surpass the Gold ETFs in AUM within a year, which has been around for over a decade.
Another important factor for digital asset performance is Trump’s election. Since its arrival, the risky asset class has been met with suspicion and disbelief, mainly because of regulatory unclarity and negative publicity. With Trump pledging support to the industry and even mentioning a strategic Bitcoin reserve for the US, markets have been rallying.
A strategic reserve would drastically improve the legitimacy of the asset class as a whole. Though this is still far-fetched, our view is that the new US government will definitely be accommodative in this area. They seem to have gathered a team of experts around him that looks suited to walk the thin line of implementing new regulations while not restricting market participants and early adopting businesses.
After a very dominant Bitcoin in 2024, our digital assets team expects this dominance to decline, while still growing in value, leaving room for alternative tokens to outperform. The first signs of this shift are visible in the pick-up in Ethereum spot prices. This shift correlates with previous cycles of the market, where Bitcoin initially leads, followed by other assets higher on the risk curve. We identified two trends to gain more traction in 2025.
The first trend is tokenization as part of the Real-World Assets sector. This is one of the areas we are also exploring for our funds, like institutions such as BlackRock and JP Morgan already explored for traditional assets such as stocks, bonds, or real estate. By tokenizing these assets on a blockchain, they become more liquid and can be fractalized. The assets become tradable 24/7, and the transaction settlement is fast, cheap, and transparent, allowing for more financial opportunities.
The other one is Artificial Intelligence. Many of the current platforms, such as ChatGPT or Google Gemini are centralized, coming with risks such as privacy issues, potential biases, and single points of failure. Decentralized solutions could be a solution for those who are unwilling to be exposed to those kinds of risks.
If the US takes the lead in accommodative regulation, other nations will follow. Because of this, 2025 could be the year general adoption is accelerated, leaving the digital asset market positioned to do very well.
Artificial Intelligence – Show me the customers
It almost feels like a must mentioning AI as a 2025 trend. Obviously, it has been one of the most traded and talked about trends in past years, but it feels like there is a shift coming. Spending on AI will likely increase, as overall corporate capital investment has been at an annual 2.5%, whereas the average peak capex in the last three trends (energy, housing, and dot-com) was around 8%. So there seems to be enough room there, but valuations in AI are even higher both in public and private markets. Investors will start to look more for ROI and proof-of-concept through a growing customer base.
This will feed into the trend that the focus of investment within the AI sector will change. Where in the past years we’ve seen companies in the infrastructure part of the ecosystem do very well. Our expectation is that emphasis in 2025 will shift more towards the mid- and downstream of AI, focussing on the products and services, and especially to companies where revenues actually get enhanced by the use of AI. That being said, also energy supply for these solutions will become a more important topic.
As a sub-trend, we expect identity to be a hot topic going forward. AI-generated news, images, text, and speech are spreading more and more around the internet. The need for an actual confirmation of real human output (or conversation) will increase. Ironically, this can only be solved by AI.
We have seen adaptation of multiple tools like ChatGPT, but more in a ‘getting-to-know-the-product’ kind of way. More structured solutions built on these LLMs are getting traction now that models are improving at such a fast pace, with an accuracy increase from 10% to 90% from 2021 to 2024 for competition-level math questions (source: Jensen, G., Narayan, A., Greene, A., & Simon, L. (2024). Is an AI Bubble Ahead of Us or Behind Us? Bridgewater.). Beneficiaries will be sectors where the share of tasks that can be handled by AI can reduce labor costs and increase revenue by incorporating this into their business.
All of this does not mean replacing employees, as you have probably read before, but increasing the share of value-added hours. For example, we now utilise AI-ensembles to provide our fundamental team with trading signals. This allows us to react faster to investment opportunities, and also signal more opportunities that are overlooked by humans in the first place.
In general, capital will continue to flow towards AI as a sector, but with a more stricter view on market adoption and value-addition. Ultimately adoption and ability to incorporate these tools efficiently will lead to productivity gains, but in my opinion, this will be a much longer-term trend and won’t crystallize in 2025.
M&A – Consolidation on all fronts
Last but not least, falling interest rates, cash-rich companies, and a less restrictive regulatory environment from a new Trump administration is a fertile ground for a lot more M&A activity, which has already seen a pick-up in 2024. Beneficiaries would be banks that are big in M&A, private equity and credit firms, and private business owners.
In my experience, consolidation, if rightly managed, not only leads to a better market position but can also help companies let their teams focus on their strong suits. To give a personal example, our core strength is creating AI solutions which we apply in fund management. Now, with our partnership with Dutchyard, we can outsource fund management and fundraising, leaving more time to focus on our expertise.
With the upcoming US administration giving a boost to entrepreneur confidence through a less restrictive environment, this is a trend that we expect to continue in 2025.
In conclusion, 2025 shapes up to be generally a decent year for equities globally, but with a bit more unknowns. On the digital assets front, the outlook is good, as Trump might legitimize the asset class as a whole. While AI spending will increase, the focus will shift to actual use cases as users are past the discovery phase.
2025 will belong to those with the muscle to flex less traditional assets and the foresight to leverage innovation, driving value in an evolving financial landscape.
-
Tech News7 months ago
Denodo Bolsters Executive Team by Hiring Christophe Culine as its Chief Revenue Officer
-
Tech Interviews11 months ago
Navigating the Cybersecurity Landscape in Hybrid Work Environments
-
Tech News11 months ago
Brighton College Abu Dhabi and Brighton College Al Ain Donate 954 IT Devices in Support of ‘Donate Your Own Device’ Campaign
-
Features9 months ago
Security in the Cloud Age: Combating Risks with Hybrid Cloud Solutions
-
Tech Features8 months ago
The Middle East to Lead with Next-generation Mission Critical Communication Advancement
-
VAR6 months ago
Samsung Galaxy Z Fold6 vs Google Pixel 9 Pro Fold: Clash Of The Folding Phenoms
-
Tech News1 year ago
Senet enters MENA’s Competitive Gaming Scene with ‘skill-to-earn’ Platform
-
Automotive12 months ago
Al-Futtaim Automotive Builds On 23-Year Legacy of Trust & Leadership in UAE’s Pre-Owned Car Market to Sell Over 25,000 Used Vehicles in 2023