January 2, 2024 at 11:47AM
In 2023, Israel faced the beginning of a war in Gaza after devastating Hamas attacks, leading to a cyber conflict and cybersecurity concerns. The war’s impact on businesses was predicted to be temporary, with some organizations left vulnerable. Additionally, cyberattacks against Israel’s operational technology increased, leading to greater awareness and understanding among CEOs. Collaboration with the UAE and acquisitions in the cybersecurity industry provided positive developments. The OT cybersecurity sector is expected to see increased demand due to rising cyberattacks.
Key Takeaways from Meeting Notes:
– The war in Gaza and resulting call-up of reservists significantly impacted Israel’s cybersecurity industry, potentially leaving some organizations vulnerable to cyberattacks and delaying product rollouts.
– Cyberattacks against Israel’s operational technology (OT) and critical infrastructure have been increasing, with notable attacks including distributed denial-of-service (DDoS) attacks and physical attacks on water controllers.
– A positive outcome from increased attacks on Israel’s OT systems is that CEOs and management now better understand the challenges faced by security teams, leading to improved receptiveness and understanding of Israel as a target and a need for enhanced infrastructure redundancy.
– Collaboration with the United Arab Emirates, acquisitions of Israeli OT cybersecurity companies, and new investments in cybersecurity are contributing to the strength of Israel’s cybersecurity industry.
– The expectation is that an increase in OT cyberattacks could lead to more demand for improved OT security and protection, potentially driving new innovation and investment in this area.