Resecurity, a global leader in cybersecurity solutions protecting major Fortune 100 companies and government agencies worldwide, is set to participate in the Global AI Summit (GAIN) 2024, taking place from September 10-12 at the King Abdulaziz International Convention Centre in Riyadh, Saudi Arabia. The summit hosted by the Saudi Data and AI Authority (SDAIA), renowned as the leading platform for advancing the global discussion on artificial intelligence (AI), will gather industry experts, policymakers, and technology innovators to explore the latest advancements in AI and its applications across various industries.
Shawn Loveland, Chief Operating Officer (COO) of Resecurity, will lead a pivotal roundtable discussion titled “AI-Enhanced Cyber Defense: Tackling Fraud and Cybercrime Challenges in Saudi Arabia,” scheduled for September 10th from 12:00 PM to 1:30 PM. This session will delve into the pressing issue of cybercrime in Saudi Arabia, a nation identified as the second most targeted market globally for cyber threats by IBM. With compliance costs for financial institutions in the Kingdom soaring by over 70% in 2023, the discussion will highlight the critical role of AI in mitigating these risks.
The rise of generative AI has further complicated the cyber threat landscape, leading to new challenges for both companies and individuals. During the roundtable, Shawn Loveland will discuss how enterprises in Saudi Arabia could combat these evolving threats effectively. The discussion will focus on identifying the most significant factors contributing to cybercrime and fraud, and developing actionable recommendations and collaboration frameworks to enhance cyber defense in the Kingdom.
Resecurity’s AI-Powered Fraud Prevention Platform will be one of the focal point of this discussion. In the digital era, the frequency of online transactions has skyrocketed, paralleling the sophistication of fraud tactics, tools, and procedures (TTPs). Resecurity’s platform leverages cutting-edge data science and machine learning (ML) to provide comprehensive, proactive protection and near real-time detection across various digital platforms.
The platform is powered by actionable Big Data, offering unique risk intelligence insights on the latest fraud indicators, money mules, politically exposed persons (PEPs), and merchants involved in illegal activities. This enables financial crime investigators, fraud prevention, and compliance teams to perform enhanced KYC screening and conduct deep-dive investigations.
“Saudi Arabia’s rapid advancement in AI presents both opportunities and challenges. Events like the Gain Summit are crucial for addressing these challenges, particularly in the realm of cybersecurity,” said Gene Yoo, CEO of Resecurity. “AI-powered Fraud Prevention Platform by Resecurity is designed to empower organizations in the Kingdom to stay ahead of evolving threats, ensuring a safer digital environment for consumers and businesses.”
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