Only 4 in 10 Saudi CEOs are ready for cyber security challenges: survey

Only four in 10 CEOs (or 40 percent) in Saudi Arabia say their organization is prepared to thwart any cyber-attack, according to the second edition of the “Saudi Arabia CEO Outlook 2018” report released on Tuesday by KPMG Al Fozan & Partners.

Fifty-two percent of Saudi CEOs also believe becoming a victim of a cyber-attack is now a case of "when" and not "if" for their organization, according to the survey based on the inputs of 50 CEOs in Saudi Arabia.

Also read: Here are the top predictions for Middle East cybersecurity in 2019

"Cybersecurity is a growing cause for concern and CEOs in Saudi Arabia need to take steps to mitigate the risks involved. The growing threats indicate that Saudi Arabia needs a robust infrastructure, processes and culture for cybersecurity," said Samer Abdallah, Head of Digital, KPMG Al Fozan & Partners in Saudi Arabia.

According to the report, 62 percent and 58 percent of CEOs in Saudi Arabia expect cybersecurity specialists and data scientists respectively, to be critical for an organisation’s growth plans.

In line with this, 72 percent of CEOs in Saudi Arabia said a robust cybersecurity strategy is decisive to engender trust with key stakeholders, compared to 55 percent of global counterparts.