An emerging international sector sees 14% growth in number of companies with 10 companies in Ireland employing 200 people and $42 million investment to date.
A new sector, the online safety technology or ‘Safety Tech’ sector, which complements the existing cybersecurity industry, is gaining prominence internationally.
The “International State of Safety Tech 2024” report—commissioned by Paladin Capital Group and completed by PUBLIC’s Online Safety team with the support of Perspective Economics and leading cyberpsychologist and Paladin’s Chief Scientist Safety Tech, Dr. Mary Aiken— finds that the international Safety Tech sector has grown steadily against a background of ever-evolving online threats and new compliance demands on digital businesses.
“With threat actors increasingly spreading disinformation, extremism, and illegal content, and exploiting AI in, for example, the generation of deepfakes, it is encouraging that this report shows the global Safety Tech sector is steadily growing and expanding to a host of new countries,” said Dr. Mary Aiken, Paladin Chief Scientist Safety Tech and Member of Strategic Advisory Group. “Safety Tech solutions offer a means to leverage cutting-edge technologies to protect people worldwide and tackle problematic, harmful, and criminal activities online. Through tech-facilitated solutions, we can foster a safer and more secure cyberspace —for today and for the future.”
This International State of Safety Tech report builds off the 2023 analysis, providing updated data and examining new solutions in the market. Through a combination of expert interviews, an industry survey, desk research, and quantitative market analysis, the researchers found:
- The online Safety Tech sector has demonstrated resilience in the face of a cooling global investment landscape. This is supported by a 14 percent year-on-year increase in the total number of Safety Tech providers globally.
- 63 percent of these Safety Tech providers have received some form of external investment, underscoring the need for ongoing financial support to drive growth and market access.
- While the U.S. and the U.K. still represent the majority of market headquarters, India, Singapore, and Vietnam are emerging as leaders in the south and southeast Asian Safety Tech communities.
- Within the AI-centric sector, access to high-quality, representative training data remains a major pain point.
- New legislation has been introduced by the US, India, and Australia, with many platforms taking a “wait and see” attitude to the impact of the legislation.
- This report has found evidence to support an emerging Irish Safety Tech sector. Findings suggest that approximately one in 12 Trust & Safety professionals worldwide are based in Ireland; therefore, Ireland has the potential to become an international leader in the Safety Tech sector, building on its reputation as a global digital hub with a strong multinational cybersecurity presence
- Safety Tech firms have been significantly impacted by AI trends with evolving offerings for foundation models.
The report spotlights Ireland with evidence of an emerging Irish Safety Tech sector. Ten Irish safety tech start-ups employ approximately 200 professionals in Ireland, with seven of these companies collectively raising $42 million to date. Notable examples include NewsWhip, Ceartas, and Kinzen, the latter acquired by Spotify.
Ireland hosts approximately 2,600 trust and safety professionals – 1 in 12 of the trust and safety workforce globally. There are 8,000 people working in Ireland’s cybersecurity sector, which is complimentary to safety tech. This expertise, combined with significant skills in finance, regulatory governance, legal and professional services, creates an advantage for safety tech innovation.
Ireland is an international hub for multinational technology companies and online platforms (including Facebook, Instagram, YouTube, Udemy, TikTok, X, Pinterest, LinkedIn, Tumblr and Reddit), with 13 of the world’s 23 leading tech firms, including Google, Meta, and TikTok, headquartered in Dublin.
Ireland will play a central role in regulation and shaping the future of online safety regulations, in particular for the European Union’s Digital Services Act (DSA) and as Coimisiún na Meán enforces the EU’s Online Safety Code, mandating platforms to protect users from cyberbullying, self-harm content, and more.
Eoin Byrne, Cluster Manage at Cyber Ireland, the national cybersecurity cluster welcome the report noting “Ireland’s strengths as a digital leader, strong cyber security sector, talented workforce and central role in regulation means the country can address pressing online safety challenges and drive innovation. Through targeted investments, collaborative public-private partnerships, and a commitment to safety tech, Ireland can create jobs, stimulate the economy, drive innovation and contribute significantly to safer online experiences worldwide.”
The report is available here.
