Industrial Automation Magazine India

IIM Ahmedabad and Bank of America partner to set up a Centre for Digital Transformation

Published on : Friday 27-08-2021

Prominent leaders across the world join its Advisory Council for Responsible Digital Transformation.

August 26, 2021: Indian Institute of Management Ahmedabad (IIMA), the premier global management institution, has partnered with Bank of America to launch a Centre for Digital Transformation (CDT). The Centre aspires to become a vibrant knowledge hub for academia, policymaking, and the private sector by facilitating cutting-edge research on digital transformation and innovation.

The Centre for Digital Transformation was launched with an event which was attended by faculty members of IIMA, along with well-known leaders from industry and academic institutions from India and abroad. 

Announcing the launch of the Centre, Professor Errol D’Souza, Director, IIMA, said, “Advancements in the information technology sector are growing rapidly and transforming the way we function. The pandemic has further revealed the value of digital operating models and the need for industry, institutions, and nations to ramp up their adoption of technology. Therefore, it becomes imperative that we study the impact of this digital transformation on business, government, individuals and society.”

“Our global economy is quickly becoming more reliant on digital technologies as underscored by our current environment,” said Cathy Bessant, Bank of America Chief Operations and Technology Officer. “With the development of digital economies increasing at an exponential rate, shared learning and best practices are critical for shaping the future for our governments, private industry and universities. It’s how we’ll ensure we’re creating and implementing technology responsibly.”

As a strategic next step, the Centre has also set up an advisory Council on Responsible Digital Transformation. Helmed by IIMA, this council will bring together diverse stakeholders to deliberate on the urgent needs and unique perspectives on digitalization. This is intended to help develop best practices and guidelines designed to benefit all stakeholders and achieve broader goals. The council will play a critical role in enhancing core competencies of the Centre and help guide the projects. The council will enable greater collaboration and alignment with external industry partners for long term value creation.

The council members include Dr. Ritu Agarwal, Senior Associate Dean of the Robert H. Smith School of Business at the University of Maryland; Debjani Ghosh, President of NASSCOM; Rajesh Gopinathan, CEO of Tata Consultancy Services; Nandan Nilekani, Non-executive Chairman of Infosys; Aditya Puri, Senior Advisor, The Carlyle Group; Dr. Vallabh Sambamurthy, Albert O. Nicholas Dean of the Wisconsin School of Business of the University of Wisconsin–Madison.

“Over the last decade, the Indian government has empowered citizens to access social security, financial products, education and health services using digitization as the key enabler,” said Kaku Nakhate, India Country Head, Bank of America. “Bank of America is a key supporter of these initiatives, and this new Centre will only strengthen the responsible digital framework in India. I am delighted that this Centre will bring together leading academics and digital thought leaders from the United States and India to accelerate the digital revolution in India.”