EMPOWERING BEYOND SYMPOSIUM WASHINGTON, DC 2019

Naresh Lachmandas, Former CIO, L3 Communication Systems-West and Avasant Fellow, led a discussion on the topic of cybersecurity. The panel was made up of industry leaders including Sam Esfahani, CIO, AgFirst Farm Credit Bank, Kenny K. Cheung, Chief of Procurement, The World Bank Group, and Howard Spira, CIO, Export-Import Bank of the United States.

Sam Esfahani began the discussion by establishing that any strategy involving digital transformation should focus first and foremost on the customer experience. Sam also noted that as a CIO it is becoming increasingly important to emphasize business value rather than primarily focusing on the technical aspects of the job. It is vital to highlight how technology can help improve business value in addition to operational efficiency. For example, Sam points out a good place to start is “how can technology improve customer satisfaction”? It is also essential to focus on how you can reduce friction between technology and the core business. On the topic of protection of corporate assets, Sam shared an illustrative example regarding swiss cheese. There will always be weaknesses and vulnerabilities in defense of corporate assets, like holes in swiss cheese, however the role of a CIO is to ensure that those vulnerabilities never align and exposure to risk is limited.

Kenny Cheung spoke about the importance of establishing a company culture that will embrace innovation, otherwise core business units will lag behind and not leverage the investment in technology. Kenny also added to Sam’s point about emphasizing business value over technical x’s and o’s, pointing out that he believes product-based org structures rather than capability-based org structures produce higher levels of customer satisfaction. Additionally, Kenny observed that when it comes to transformative efforts such as innovation in cybersecurity, success should be measured on whether goals were met, not on budgets and timelines.

Howard Spira discussed the concept of “ACT”, which stands for “Access, Credibility, Trust”. Noting that credibility is paramount as a CIO or a leader in technology, Howard discussed the differences between business outcomes and tech strategies. Credibility is achieved through business outcomes, not tech strategies, furthering the points made by Sam and Kenny regarding the importance of focusing on business value. Howard also explained the value of bridging and spanning, which involves gaining knowledge of your co-workers, customers, and neighbors’ domains in order to more holistically understand the operations of the company and its impact on stakeholders. Howard concludes the discussion by noting that IT teams are smaller than ever due to their reliance on specialized 3^rd party as-a-Service (aaS) offerings, and that a major role of a CIO is ensuring that incentives are aligned for both partners and internal team members so that all parties can work in unison.

Anupam Govil, President, Latin America and Managing Partner, Avasant, led a discussion on the topic of enabling global growth. The panel was made up of industry leaders including Jaime Granados, Trade and Investment Division Chief, IADB, and Samia Melhem, Global Lead of Digital Development, The World Bank Group.

Jaime Granados kicked off the discussion by diving into the tremendous opportunity that exists in delivering technological solutions to developing regions and pointing out that all public sector organizations are asking the same questions. “What are the jobs of the future? Where should we invest in technology?” Governments are transforming on a global scale as they strive to provide platforms to support a new age of business and commerce and define new laws to best align incentives with technological innovation. Governments want to deliver more robust citizen services more efficiently, and they understand disruptive digital innovation solutions such as automation, AI, blockchain, IoT, analytics, and cloud services are the drivers that will get them there. Jaime discussed the success some developing countries have had by working with the needs of local companies to determine what type of skill sets are needed and then augmenting local finishing schools with those skill sets, and constantly working with the industry to collect feedback and improve.

Samia Melhem observed that while it is her organization’s goal to digitally enable everyone in the world by 2030, there is a long way to go on the public policy side. As a critical example, Samia noted how infrastructure in developing regions requires a conscious investment from the government as well as the private businesses, however such investments can’t be responsibly made without a talent base of professionals such as professors, engineers, and scientists, with an emphasis on talented youth. Samia further explained how critical the role of entrepreneurship is in developing countries and that they are encouraging this development through financing of STEM initiatives.

Anupam then took to the stage to conclude the day with the unveiling of Avasant’s Global Equations platform. The impact of digital innovation on developing countries has allowed for insurmountable opportunities for growth—it was this realization that led to the development of Avasant’s collaborative “marketplace.” Still in beta stage, Global Equations was introduced to the audience as an online portal that will serve as an exchange for investors to discover and be matched with global development opportunities.

Kevin then joined Anupam on the stage to provide his thoughts on Global Equations and its potential to enable global development through market insights and proprietary in-depth analysis, resulting in a comprehensive overview of the international landscape.