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Editorial

The New Age of Security

Published

4 months ago

on

ai cybersecurity

By Sidra Kamal

The evolution of Artificial Intelligence (AI) and Machine Learning (ML) has been a cornerstone of digital transformation over the past decade. Starting from supervised learning, AI and ML have rapidly advanced with unsupervised, semi-supervised, reinforcement, and deep learning. The latest frontier in AI technology is Generative AI (GenAI), developed using deep neural networks to learn the patterns and structures of large training corpuses to generate similar new content. GenAI can produce various forms of content, including text, images, sound, animation, source code, and other data types.

The launch of ChatGPT (Generative Pre-trained Transformer) by OpenAI in November 2022 significantly disrupted the AI/ML community. ChatGPT demonstrated the power of GenAI by reaching the general public, revolutionizing perceptions of AI/ML. According to Netskope’s Cloud and Threat Report 2024, ChatGPT was the most popular generative AI application in 2023, accounting for 7% of enterprise usage. The tech industry is now racing to develop sophisticated Large Language Models (LLMs) capable of creating human-like conversations, exemplified by Microsoft’s GPT model, Google’s Bard, and Meta’s LLaMa. Within a year of its release, ChatGPT reached 100 million users, suggesting widespread use and familiarity with GenAI tools.

Impact of GenAI on Cybersecurity and Privacy

AI has successfully replaced traditional rule-based approaches with more intelligent technology. However, the evolving digital landscape is elevating the sophistication of cyber threat actors. Traditionally, cyberspace faced high volumes of relatively unsophisticated intrusion attempts. The introduction of AI-aided attacks has ushered in a new era, transforming cyberattack vectors. AI/ML has enhanced the effectiveness of cyber attacks, making cyber offenders more powerful. Consequently, GenAI has attracted significant interest from the cybersecurity community for both defense and offense.

GenAI tools like ChatGPT can help cyber defenders safeguard systems from malicious intruders. These tools leverage information from LLMs trained on extensive cyber threat intelligence data, including vulnerabilities, attack patterns, and indications of attack. Cyber defenders can use this information to enhance their threat intelligence capabilities by extracting insights and identifying emerging threats. GenAI tools can also analyze large volumes of log files, system output, or network traffic data during cyber incidents, speeding up and automating the incident response process. Additionally, GenAI models can help create security-aware human behavior by training people for sophisticated attacks and aid in secure coding practices by generating secure code and producing test cases.

However, GenAI also poses significant risks if misused by cyber offenders. Attackers can use GenAI to perform cyber attacks by extracting information or circumventing ethical policies. They can leverage GenAI tools to create convincing social engineering attacks, phishing attacks, attack payloads, and malicious code snippets that can be compiled into executable malware files. Although OpenAI’s ethical policies restrict LLMs like ChatGPT from directly providing malicious information, attackers can bypass these restrictions using techniques such as jailbreaking and reverse psychology. According to the ISC2 AI Cyber 2024 report, 75% of respondents are moderately to extremely concerned that AI will be used for cyberattacks or other malicious activities.

GenAI for Cyber Offense

Cyber offenses are hostile actions against computer systems and networks intended to manipulate, deny, disrupt, degrade, or destroy existing systems maliciously. While offensive actions are generally malicious, cyber defenders can also use them to test their defense systems and identify vulnerabilities. Information on cyber defense is more readily available, while information on cyber offenses is limited due to legal and ethical constraints. However, easy access to LLM models like ChatGPT can help attackers circumvent these constraints.

Social Engineering Attacks

Social engineering manipulates individuals into performing actions or divulging confidential information. ChatGPT’s ability to understand context and generate human-like text can be exploited for social engineering attacks. For example, an attacker with basic personal information about a victim could use ChatGPT to generate a message that appears to come from a colleague or superior, requesting sensitive information or actions. According to a survey by LastPass in 2024, more than 95% of respondents believe dynamic content through LLMs makes detecting phishing attempts more challenging.

Phishing Attacks

Phishing attacks involve posing as trustworthy entities to extract sensitive information from victims. AI systems like ChatGPT can craft highly convincing and personalized phishing emails, effectively imitating legitimate communication from trusted entities. These AI-powered phishing emails exploit psychological principles like urgency and fear, prompting recipients to act impulsively, thereby increasing the success rate of phishing attacks. The same LastPass survey indicates that phishing will remain the top social engineering threat to businesses throughout 2024.

Automated Hacking

Hacking involves exploiting system vulnerabilities to gain unauthorized access or control. AI models like ChatGPT can automate hacking procedures, identifying system vulnerabilities and devising strategies to exploit them. For instance, AI-assisted tools like PentestGPT, built on ChatGPT, automate aspects of penetration testing, helping ethical hackers identify vulnerabilities. However, the same principles can be exploited by malicious actors to automate unethical hacking procedures.

Attack Payload Generation

Attack payloads execute unauthorized actions such as deleting files, harvesting data, or launching further attacks. ChatGPT can generate attack payloads by training on specific target system details. For example, an attacker could use ChatGPT to generate SQL injection payloads for a vulnerable database system. Although generating these payloads requires detailed information and technical knowledge, the potential for misuse is significant.

Generative AI, particularly models like ChatGPT, presents both opportunities and challenges in cybersecurity. While these tools can enhance cyber defense capabilities, their potential for misuse by cyber offenders cannot be ignored. As GenAI tools become more accessible, understanding their implications from a cybersecurity perspective is crucial. According to the HiddenLayer AI Threat Landscape Report 2024, 98% of companies view some of their AI models as vital for business success, underscoring the importance of securing these transformative technologies.

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Automotive

Driving Growth Through Mobility for 53 Years

Published

2 weeks ago

on

November 28, 2024

By

UAE National Day

As the UAE marks its 53rd National Day, the nation celebrates not only its unity but also its emergence as a global leader in innovation and economic resilience. Central to this story is the automotive industry, a key player in shaping the nation’s economic landscape and mobility solutions. From luxury vehicles adorning its bustling streets to cutting-edge advancements in electric and autonomous technology, the UAE has positioned itself as a hub for automotive innovation in the region.

By Srijith K N

The country’s focus on sustainability and smart mobility has catalyzed investments in infrastructure, including EV charging networks and green mobility corridors, further underscoring its status as a pioneer in future-ready transportation. These advancements also reflect the nation’s commitment to sustainability, a cornerstone of its vision for the future.

Within this thriving ecosystem, the car rental industry has emerged as a dynamic sector, mirroring the UAE’s strategic focus on mobility and economic diversification. Rahul Singh, Managing Director of AA AL Moosa Enterprises – Car Rental Division, highlights how this sector has become a key driver of growth. “The UAE’s economy thrives on its strategic focus on travel and tourism, which contributed 11.7% of GDP in 2023. This success is mirrored in the expanding demand for car rental services, with the market growing 10% year-on-year in 2023 to USD 1.77 billion and projected to reach USD 214.70 million annually by 2029.”

Singh attributes this growth to the UAE’s ability to attract millions of international visitors—17.15 million in Dubai alone in 2023—many of whom rely on rental vehicles to explore the nation’s iconic destinations. “This surge reflects a shift towards flexible and cost-effective mobility solutions, driving direct and indirect economic benefits for the country,” he adds.

The role of car rentals becomes even more significant during National Day, as they facilitate seamless mobility for residents and visitors alike to immerse themselves in the celebrations. Beyond offering convenience, rental services cater to diverse needs—from premium sports cars that embody luxury to family-friendly SUVs and eco-conscious electric vehicles.

Electric vehicles (EVs) are particularly transformative, aligning with the UAE’s ambitious green mobility goals. The car rental industry’s increasing integration of EVs reflects a growing consumer preference for sustainable travel solutions. This trend not only supports the nation’s net-zero aspirations but also positions the UAE as a leader in environmentally responsible tourism and transportation.

As the UAE celebrates its 53rd National Day, the car rental and broader automotive sectors stand as pillars of the country’s vision for growth, sustainability, and global leadership. Together, they drive the narrative of a nation that remains steadfast in its pursuit of innovation, inclusivity, and a brighter, greener future.

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Editorial

UAE’s 53rd National Day: A Legacy of Progress and Promise for the Financial Sector

Published

2 weeks ago

on

November 28, 2024

By

UAE National Day

As the UAE marks its 53rd National Day, the occasion serves not only as a celebration of its remarkable achievements but also as a reflection on its vision for a prosperous future. For the financial industry, National Day is a time to appreciate the leadership, innovation, and resilience that have positioned the UAE as a global economic powerhouse.

By Srijith K N

A Visionary Leadership Driving Progress

“The UAE’s 53rd National Day is a celebration of its extraordinary achievements and a call to reflect on the values that drive this nation—unity, vision, and sustainability,” says Mufazzal Kajiji, CEO of Zurich International Life (Middle East). This vision has been the cornerstone of the nation’s journey, blending tradition with modernity to achieve its ambitious goals.

Over the past year, the UAE has reached significant economic milestones, including hosting landmark IPOs and advancing its diversification efforts. As Mohamed Hashad, Chief Market Strategist at Noor Capital, points out, “UAE companies going public reflect significant economic progress.” This demonstrates the UAE’s thriving business environment and its leadership in setting global benchmarks for development.

Innovation as the Key to Success

At the heart of the UAE’s progress lies an unwavering commitment to innovation. For financial leaders like Damian Hitchen, CEO of MENA & APAC at Saxo Bank, the UAE’s journey stands as a testament to visionary leadership. “The UAE’s commitment to innovation and digital transformation lies in fostering growth, resilience, and opportunity,” he states. The nation’s investments in fintech, blockchain, and AI are shaping a robust financial landscape that inspires both regional and global players.

This forward-thinking approach extends beyond technology. Sulochana Betwala, COO & Co-Founder of TOTL, emphasizes the UAE’s foundation of loyalty—to its people and its vision of progress. “Over the past 53 years, the UAE has shown that loyalty is not only about tradition but about an unwavering commitment to innovation, diversity, and inclusivity,” she notes.

Empowering People and Building Sustainability

As the UAE moves towards its Centennial 2071 goals, sustainability and empowerment remain at the forefront. “On the UAE’s 53rd National Day, we celebrate an economy driven by innovation, resilience, and empowerment,” says Bal Krishen, Chairman of Century Group. The nation’s initiatives in renewable energy, green finance, and ESG frameworks are setting the stage for a sustainable future.

The financial sector has a critical role to play in this vision, enabling businesses and individuals to access opportunities that contribute to the UAE’s global success. This is not just a reflection of past achievements but a call to shape the future, as Hitchen aptly notes, “The journey is far from over—there is so much to look forward to as the UAE builds on its legacy of progress.”

A Global Financial Hub Inspiring Confidence

National Day also highlights the UAE’s role as a global financial and economic hub. Its stability, strategic location, and innovative policies make it a preferred destination for investors worldwide. The UAE’s resilience in navigating global economic challenges, coupled with its emphasis on inclusivity, ensures it remains a beacon of opportunity.

Looking Ahead

As the UAE celebrates this milestone, its financial sector stands poised to further elevate its global position. Whether through fostering innovation, driving sustainability, or empowering individuals and businesses, the financial industry will remain a cornerstone of the UAE’s ongoing success.

For leaders like Mufazzal Kajiji, National Day is an opportunity to reflect on the nation’s journey and its values: “It’s a day to celebrate a nation that has turned dreams into reality, blending tradition with progress.”

On this National Day, the UAE stands united in honoring the past, celebrating the present, and looking toward a future where ambition knows no bounds.

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Editorial

Celebrating UAE National Day: A Legacy of Leadership and Technological Innovation

Published

2 weeks ago

on

November 28, 2024

By

UAE National Day

The UAE’s 53rd National Day is a testament to the nation’s vision, resilience, and remarkable transformation. Over five decades, the UAE has emerged as a global leader, blending innovation with unity to build a prosperous, forward-thinking society. This milestone not only reflects on the achievements of the past but also highlights the path the nation is charting for a technology-driven future.

By Srijith K N

Visionary Leadership Driving Excellence
At the heart of the UAE’s success is its unwavering commitment to progress and excellence. Louise Bou Rached, Sales Director, MENAT at Milestone Systems, reflects, “The UAE’s National Day is a celebration of visionary leadership and a commitment to progress that has propelled the nation to global prominence. The UAE’s dedication to excellence in everything it does continues to inspire the tech industry and others, setting a benchmark for what’s possible with ambition and unity.”

Ziad Nasr, General Manager at Acronis Middle East, echoes this sentiment, emphasizing the balance between growth and security. “The UAE has long celebrated the contributions of individuals and organizations from all sectors, recognizing the collective effort that has shaped the nation’s socio-cultural fabric. The country’s unwavering commitment to both growth and both physical and digital security has fostered an environment where digital transformation can thrive safely and sustainably. It’s no surprise that the UAE ranks among the world’s most forward-thinking nations, balancing the pursuit of innovation with a foundation of trust and resilience.”

Innovation Powering a Data-Driven Future
The UAE has positioned itself as a global beacon of innovation by embracing cutting-edge technologies like AI and hybrid cloud to drive growth. Karim Azar, Regional VP of Middle East and Turkey at Cloudera, observes, “On the UAE’s National Day, we celebrate 53 years of a nation built on the principles of diversity, tolerance, and safety with visionary leadership that has transformed the UAE into a global beacon of progress. The nation’s commitment to fostering innovation is evident in its embrace of cutting-edge technologies like AI and hybrid cloud, where data is central to driving secure, sustainable growth across sectors.”

This strategic focus on technology not only strengthens the economy but also ensures resilience and adaptability in an increasingly digital world.

Retail Technology and Economic Diversification
The UAE’s investment in retail technology showcases its commitment to economic diversification and customer-centric innovation. Andreas Hassellöf, CEO of Ombori, explains, “The UAE’s vision of becoming a global leader in smart city technologies and digital transformation is propelling businesses toward adopting cutting-edge solutions that enhance both customer experience and operational efficiency. Technologies like PhyGrid are helping businesses optimize in-store experiences and streamline operations, connecting physical stores to real-time data insights that enable retailers to better understand foot traffic, product interactions, and customer behavior.”

Retail innovation not only fuels economic growth but also enhances the UAE’s position as a global hub for digital commerce. The sector’s potential is vast, as evidenced by the growing smart retail market, which is expected to reach $239.9 billion globally by 2032, driven by technologies that improve personalization and operational efficiency.

A Bright Future for the UAE
As the UAE celebrates its National Day, the nation’s journey of transformation serves as an inspiration for the world. Combining visionary leadership, innovation, and an unwavering commitment to security and progress, the UAE continues to set benchmarks in technology and beyond. This foundation ensures that the UAE remains a leader in shaping a sustainable and prosperous future for its people and the global community.

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