Middle East tech leaders explore AI’s role in modern risk management

In today’s fast-paced digital environment, enterprises increasingly leverage AI and analytics to strengthen their risk management strategies. By adopting AI-driven approaches, businesses can better anticipate potential threats, make data-informed decisions, and bolster the security of their assets and operations. A recent panel on the role of AI and analytics in risk management explored this transformational technology, focusing on how organizations can harness these tools for a more resilient future.

While AI offers a powerful means to anticipate and address risks, it also introduces new challenges. Jayakumar Mohanachandran, Group Chief Information Officer at Buzeki Enterprises, emphasized the importance of a unified strategy to handle the dual nature of AI. “We need to have a unified strategy which is required to scale,” he remarked. “There are risk elements we know, but evolving threats are also emerging due to AI. It’s helpful, but at the same time, it increases the risk. We need to be proactive.”

Mohanachandran’s perspective underscores the urgency of building AI-powered defenses while staying ahead of AI-enhanced threats. The delicate balance between utilizing AI’s predictive power and guarding against its potential risks is crucial for maintaining operational security.

Identifying Criminals in a Complex Cyber Landscape

In discussing the potential of AI to strengthen defences, Alok Gupta, Director and Regional Head of Financial Crime Analytics at HSBC pointed out that while AI can make it “tremendously difficult to identify criminals,” it simultaneously offers insights into the motivations behind cyber attacks and malicious behaviours. “It helps us understand the power of the network,” he explained, elaborating on the need to differentiate between misleading and legitimate signals rapidly and cost-effectively. “We need to find the difference between the wrong signals and the right signal in a faster, cheaper, and better way.”

Gupta’s remarks highlight how AI can improve decision-making and accuracy in cybersecurity, but they also emphasize the ongoing challenge of discerning true threats from false alarms in the vast volumes of data generated daily.

The Role of AI in Modernizing Cyber Defenses

A key focus of the panel was on how AI can modernize cybersecurity measures, automating the detection and mitigation of cyber threats with greater precision. AI systems can identify anomalies in network traffic, detect unusual patterns, and preemptively respond to attacks. These capabilities allow organizations to stay one step ahead, particularly when facing automated attacks that AI can help to detect and thwart efficiently.

Mohanasevlan Jeyapalan, Senior VP, PMO at Expo City Dubai, commented on the evolution of cybersecurity from being a technical concern to a priority for board members, emphasizing that data quality is a risk that now demands executive-level attention. “Cybersecurity took a lot of time to come to board members, and data quality is a risk that needs to be discussed,” Jeyapalan stated. This shift marks a crucial step in aligning cybersecurity with broader business goals, ensuring that executive leaders are actively engaged in securing data quality and managing risks.

AI-Driven Insights for Predictive Risk Management

Another theme that resonated with panellists was the use of AI and analytics for predictive risk management. The ability to analyze large datasets to predict and prioritize threats empowers companies to take preemptive action, enhancing resilience against cyber incidents and other disruptions. In particular, AI can help security teams make more accurate predictions about where and when a threat may arise, enabling companies to allocate resources more effectively.

Anoop Kumar, Head of Information Security Governance, Rish and Compliance at GulfNews, Al Nisr Publishing also reflected this sentiment: “We need to make sure the risk is managed properly.” This proactive approach to managing risk with AI-driven insights is essential for companies seeking to not only respond to threats but anticipate and mitigate them before they materialize.

In conclusion, as AI-driven risk management strategies become more integral across industries, companies are recognizing the importance of staying ahead of both the potential and the pitfalls of AI. By combining a unified strategy with continuous innovation, enterprises can harness AI and analytics to not only protect themselves from cyber threats but also build a sustainable competitive advantage. As demonstrated by the insights shared in this panel, the future of risk management will be shaped by AI—and businesses must be prepared to navigate its complexities to thrive in a digital world.