Khwaja's Take on Antitrust, FTC vs Big Tech, CEOs on AI, Diversity, China's AI, CFO Role, Cyberattacks -Snowflake/Autodesk, Apple's AI, Fintech, etc.

Want to stay up to date on Board and C-suite effectiveness from me? Subscribe to my newsletter and must reads here for free and get insight on Digitally-savvy Board Effectiveness, Technology, Cybersecurity, and ESG delivered to your inbox every two weeks.

1. FTC vs. Big Tech and Open Innovation

I greatly respect all the good things Vinod Khosla is doing on climate endeavors. However,?I'm afraid I have to disagree?with his comments on Lina Khan.

??Lina's job is tough and handling very well against tech monopolies and other too-big-to-fail firms. Antitrust cases take a lot of time and resources, and Lina is exceeding my expectations.

??Material Risks posed to impacted firms due to Lina's efforts are a good thing for consumers and businesses.

??In the case of Tech, we should encourage Open Innovation at all costs, not walled gardens by tech monopolies. Value Creation thrives on Open Innovation.

??The FTC and DOJ have been developing new guidelines for M&A deals. Companies will need more time to obtain regulatory approval for mergers that raise competition concerns, which is important advice I would give to the board.

??I advise CEOs and Boards to anchor noble purpose with good-tech aligned business strategy.

??Inclusive Capitalism and multistakeholder lens always wins for the long-term. We have seen enough of the effects of short-termism and profit motives impacting end consumers and front-line workers in the long run.

Learn more from Tom Kemp 's book on Containing Big Tech . He highlights how Big Tech is over-collecting our data and what it is doing with our personal information.

2. Cyberattack Shuts Down Car Dealers

CDK Global hacked again (https://lnkd.in/g7C7p78f ). Cyberattack shuts down car dealers. They are losing sales and services, affecting manufacturers and financial services companies.

? This is what happens when you have concentration risks.

? Disruption in business, daily business activities, and money flow.

? It is time for the Boards to wake up to strengthen risk oversight.

? Learn more here from my LinkedIn piece (https://lnkd.in/gV7jrNnX ).

3. 200 Top CEOs at Yale Summit on AI

Seminal piece from Jeff Sonnenfeld on Fortune . It's a must-read. CEOs were split on the right strategies to adopt from an investor’s perspective.

Khwaja's Advice to CEOs and Boards:

??AI is a General Purpose Technology that should be applied across multiple lenses -running the business efficiently, changing the business to increase customer satisfaction (which in turn increases Earnings Growth Rate), and growing the business through innovation portfolio for profitable growth. Create a portfolio view to get the investor confidence.

??Boards must regularly oversee AI-infused Innovation metrics. This is the only way to find and shape game-changing opportunities. Align senior management compensation to 10x improvements in key metrics.

??If the firm is not shortening innovation cycles with metrics around product-led growth, then adhoc committee is the need of the hour to oversee the quantity and quality of innovative ideas.

??CEOs must showcase a culture of innovation through annual reports?and proxy reports to gain investor confidence. For example, two innovations within 12 months get investor attraction. If the Annual Report doesn't show external sources of innovation, it is a red flag for investors.

? We should not repeat the lagging digital transformation trends of the last decade. Boards must make prudent capital allocation decisions to expand margins and build AI-driven new capabilities to realize long-term value.

? The finance committee has a greater role in adapting cost structures by aligning AI costs against the largest top-line growth opportunities. If you are not differentiating the AI cost structure then board refresh is the need of the hour due to the velocity of change.

? Boards Risk Oversight for AI should encompass opportunity risk, cybersecurity risk, and systemic cyber risk. Having a tech debt is a red flag for investors and activists. Prepare before the crisis hits (ex., Southwest Airlines outage, etc.).

What else would you like to add from the investor's perspective?

4. FTC and DOJ on Microsoft's Security Practices

I reflected on the FTC examining Microsoft 's OpenAI partnership and Capital Hill's grilling of Microsoft's security practices. Here's a fascinating piece from CNBC 's Becky Quick interview with Chris Krebs (https://lnkd.in/eJ9vUwPq ).

The cybersecurity review board called out the lack of MFA, failure of transparency in disclosures, etc. What do you think?

Khwaja's Take after reviewing the proxy report:

? The Microsoft Board should spend more time overseeing and tracking the overall business commitment to cybersecurity.

??The board committee charter lacks robustness in terms of cybersecurity system governance, including measures related to data protection.

??I suggest a dedicated technology and cybersecurity committee. Currently, only specific aspects of cybersecurity are discussed under the "Environmental, Social, and Public Policy" Committee Charter. There is a lack of a reasonable oversight system, including systemic cyber risk.

??There is a lack of deep cybersecurity expertise and a governance system in the boardroom. There is no specific mention of cybersecurity expertise in the board's governance best practices.

? I like Satya Nadella ’s higher purpose statement -We, as a company, will do well when the world around us does well.

5. Global Trade Tensions and Geopolitical Risks

I have met Gillian Tett during her visit to Jacksonville. She is fabulous. Get her take on Geopolitics with CNN 's Fareed Zakaria in the context of frozen Russian Assets.

Khwaja's Take:

? Boards have a critical role in overseeing geopolitical risks across multiple lenses -talent strategy processes, values conversation, localized innovation programs to avoid concentration risks, regular assessment of the exposure of key suppliers to Gen AI, operating models, digital sovereignty, cyberspace governance "and" much more.

What do you think?

6. Board's Role in shaping AI Strategy

Co-creating and shaping AI strategy is the board agenda. Yet few firms discuss this topic in silos instead of considering all aspects including data governance, operating model, talent, new revenues, tech monopolies, concentration risk, privacy, security, “and” higher purpose.

What do you think?

7. ChatGPT isn’t available in China

ChatGPT isn’t available in China, prompting Apple to seek a local partner for its artificial-intelligence services. Enlightened Boards with innovation/technology and cybersecurity committees understand the tech implications due to global trade tensions. Compliance gets complicated.

Khwaja's Take: HOW CAPABLE BOARDS OVERSEE GLOBAL TRADE TENSIONS?

?The stakes are high, and refresh Board Agendas to include supply chain integrity, compliance adherence, financial stability, and talent acquisition and retention.

? Oversee senior management on rapid risk assessments, continuous compliance and the periodic review of third-party assessment reviews.

? Boards must have continuous learning agility. Keeping a vigilant eye on media reports and political discourse surrounding foreign trade relationships is more important than ever.

? Understanding election cycles and their potential to signal a rise in trade tensions can serve as forward-looking indicators for strategic planning and strategic inserts.

? Allocate HR as a regular Board Agenda item and embed geopolitical risk considerations in the talent strategy.

? Oversee a consolidated view of all risks with clear policies and Strengthen governance processes to spur a thriving risk culture.

? Boards must act as the navigational compass guiding companies through these uncertain times, ensuring that risk oversight is responsive and anticipatory. In this global chess game, foresight is critical to resilience.

8. Talent drives everything -Strategy and Risk

The demand for IT talent continues to outpace supply. Enlightened Boards know that talent drives everything -strategy and risk. Skills gaps threaten organizations’ abilities to grow for the new tomorrow.

What is one piece of Board Advice you would offer your CHRO when you meet on an elevator?

Checkout my LinkedIn piece on higher purpose alignment here (https://lnkd.in/eyt7xBxA )

9. Why Open Source Innovation Matters

There is a big debate on open source AI and big tech AI (proprietary using your data). Yet very few board directors, regulators, investors and legislators understand the intricacies and underpinnings of bad technology decisions. Imagine you are one of the digitally-savvy and cyber-savvy board director attending the AI briefing of your CIO.

What would be your top question for the AI infused value creation for the new tomorrow?

10. Board's Engagement on AI Will Define The New Tomorrow

How the Board engages with AI strategy makes all the difference. Assessing strategic alternatives is the board's first step in shaping AI strategy. Very few boards are incorporating AI strategy into board agendas due to lack of AI expertise on the boards.

What do you think?

11. Boeing CEO testifies at the US Senate

Boeing CEO being testified at the US Senate today. It was not a good start. What can we learn to ensure other CEOs don’t walk into unfriendly rooms due to safety and privacy concerns of Gen AI-infused business models?

The era of the COO or CFO running the company is over. The new business models, tech intensity, and change velocity call for engineering leaders who can build a top team, shape the culture, and engage the board for the new tomorrow. Physician-led hospital CEOs like Mayo Clinic CEO, Gianrico Farrugia, M.D. , is doing amazing things with Mayo Clinic Platform .

If I sit on Boeing Board, I would change the company business model from a pure supply chain company to a product-led engineering company to design a new aircraft.

The era of outsourcing your core competency is over. Boards have a vital role as a thought partners to adapt to changing conditions and pivot the company from a supply chain company to a product-led engineering company that uses latest technologies including AI.

There are several examples of new entrants, including the Automotive industry, producing differentiating products like EVs with engineering excellence.

What do you think?

12. AI and Regulations

Do you think Boards are asking tough questions in shaping and co-creating AI strategy as the industry is divided into two camps (Open Source AI innovation vs Proprietary AI, let loose without robust governance until regulators catch up) from the digital trust standpoint?

If you are in the financial services industry, what steps are you taking to avoid consent orders and MRAs from regulators?

What do you think?

13. Private Equity Continues To Evolve

Private Equity continues to evolve. Do you think Boards are spending enough time on technology, innovation, and cybersecurity to ensure business resiliency and end-to-end value creation for the new tomorrow?

William B. and Jose Luis Blanco Alvarez of McKinsey & Company have great insights here for private equity transformation.

14. AI Operating Model

Businesses today face unprecedented pressure to increase productivity and stay ahead of the competition.

Many companies are now turning to GenAI productivity assistants as a way to gain quick wins and improve their overall business processes. However, relying solely on GenAI for short-term benefits is not enough.

In order to truly reap the benefits of this technology, businesses must integrate it into their existing processes and embrace transformational change.

Learn more here from my LinkedIn piece (https://lnkd.in/eqvzbZm2 ) to explore the long-term benefits of integrating GenAI in business processes and how it can lead to a competitive advantage.

15. Autodesk -Multiyear Software Contracts

Autodesk said the monthslong investigation stemmed from how the company was accounting for billings from multiyear software contracts.

Khwaja's Take: In today?s dynamic business climate, the impact of technology on revenue streams and resilience cannot be overstated. As I advise Board Chairs across industries, a recurring theme surfaces: the pressing need for focused oversight on technology, innovation, and cybersecurity – areas deeply intertwined yet often handled in isolation. Learn more here from my LinkedIn piece (https://lnkd.in/emg3qd8u ). What do you think?

16. Wells Fargo's Fintech Debacle

In 2022, Wells launched a credit card with Bilt Technologies, a fintech startup. But ...losing as much as $10 million every month..the program has also been hit by fraud.?The partnership also poses money-laundering risk.

Khwaja's Reflections from Board Oversight Standpoint:

Wells Fargo has been making some (good) progress on the corporate governance front. Some of the forward-thinking areas include:

??Enhancing disclosures regarding board oversight of human capital management and risks, culture and ethics, and framework for workplace harassment and discrimination.

? Technology and Innovation as one of five strategic pillars. More can be done.

Here is My Take:

??There is a misalignment or lack of interlock between tech/innovation and risk?oversight.

??I recommend the lead director establish a standing technology/innovation and cybersecurity committee.

??Make the pie bigger for value creation and don't delegate innovation/technology agendas to other committees such as audit or risk.

??Per proxy report, 38% of Director nominees only have technology/innovation/cybersecurity expertise while 92% have risk management expertise. Get more innovation/technology/Cybersecurity expertise.

??Get the right incentives aligned to take the lead in the innovation game.

What do you think?

17. Lessons from Microsoft's Security Failures

An important lesson others can learn from Microsoft ’s security failures. What do you think?The CSRB, a public-private group set up to examine serious cybersecurity incidents, said the company’s culture deprioritized enterprise security and risk management.

More here (https://lnkd.in/e-k_DeYw ).

18. CFO's super powers

Landing in junk territory makes it harder and more expensive to access capital, an added burden as high interest rates have?pushed the cost of debt up. Delta Air Lines Chief Financial Officer Dan Janki gets it right -“right at the top” of the priorities’ list.

Do you think you need an ad-hoc committee to oversee this issue from board oversight standpoint?

Few ideas come to my mind. What else you would like to add?

??Enhance Investor Relations: Maintain transparent communication with investors and stakeholders about the impact of increased credit costs and the company's strategies to mitigate these effects.

??Diversify Funding Sources: Reduce reliance on a single source of funding by diversifying across different lenders or types of financing, which can mitigate risks associated with fluctuations in credit costs.

??Cost Management: Implement rigorous cost-cutting measures and efficiency improvements to enhance profitability and free up cash flow for debt service.

19. Advance Auto Parts Saga

Advance Auto Parts Says (https://lnkd.in/eUHbkpVr ) Hacker Selling Personal Data of Employees.

What else would you like to add to my observation below? Learn more here (https://lnkd.in/eWkvNeKs ).

Khwaja’s initial take based on the proxy report:

1. Innovation/technology and cybersecurity committee does not exist to oversee technology and cybersecurity strategy effectively. Cybersecurity is delegated to the audit committee. Hence, insufficient time is spent on cybersecurity issues.

2. The board skills matrix does not list cybersecurity expertise. The board lacks cybersecurity expertise.

3. Six new directors joined over the last three years. I give kudos for this.

4. Risk oversight lacks sufficient details to oversee third-party risk, technology risk, etc.

5. Named Executive Officers do not include/elevate CIO or, CTO or CISO roles—tone at the top matters for shaping and co-creating technology strategy, cybersecurity strategy and its flawless execution. Form 8-K filed under new SEC rules, indicating a cybersecurity event, is non-compliant.Background:On May 23, 2024, Advance Auto Parts , Inc. (the "Company") idenfied unauthorized acvity within a third-party cloud database environment containing Company data and launched an investigation with industry-leading experts. On June 4, 2024, a criminal threat actor offered what it alleged to be Company data for sale. The Company has nofied law enforcement.

20. Apple is sued over wages for women.

Apple is sued over wages for women. Do you think this is a Board’s oversight failure or lack of depth in human capital and non-financial metrics. What advise would you offer to the Apple ’s People and Compensation Committee Chair?

Apple ’s People and Compensation Committee Charter is comprehensive.

A. The purpose of the Committee is to:

1. Review and approve the compensation of the Corporation’s executive officers;

2. Act as the administering committee for equity compensation plans as designated by the Board;

3. Assist the Board in its oversight of the Corporation’s strategies, policies, and practices relating to its people and teams; and

4. Perform the other duties and responsibilities set forth in this charter.

21. Satya's Strategic Pivots

Microsoft ’s Satya Nadella making big moves including strategic pivots for AI. In leadership courage is everything. I applaud him for his tenacity, orchestration, long-term thinking and ownership mindset for the new tomorrow.

What advice would you offer if Microsoft’s board or Satya seeks your counsel to handle ongoing headwinds including the recent FTC’s investigation on the Inflection deal, lack of disclosures on Microsoft ’s cyberattacks (including data breaches), lack of “security by design” practices in the current portfolio, employee morale due to external talent hiring, and OpenAI Sam Altman’s motives.

I counsel CEOs, and Board Directors to anchor noble purpose with good tech aligned business strategy. AI is a multistakeholder agenda and it is a team sport.

What do you think?

22. Apple's AI Strategy

Apple 's AI Strategy Reflection Alert for Corporate Boards!!In today?s dynamic business climate, the impact of technology on revenue streams and resilience cannot be overstated.

As I advise Board Chairs across industries, a recurring theme surfaces: the pressing need for focused oversight on technology, business innovation, and cybersecurity – areas deeply intertwined yet often handled in isolation.I recommend that modern boards spur management to take decisive action by establishing a dedicated technology/innovation and cybersecurity committee to co-create and shape holistic AI Strategy. Learn more here from my LinkedIn piece (https://lnkd.in/eupsYVB7 ). What do you think?

Enlightened Boards have deep and broad expertise to co-create and shape both business strategy “and” technology strategy. These boards have a standing innovation/technology and cybersecurity committee for the new tomorrow with a multi-stakeholder mindset.

They excel at setting the right board agendas, make prudent capital allocation decisions and delegate pressing issues to the right board committees for resolution.

A digitally-savvy and cyber-savvy board director knows to dig deep in the human-in-the-loop practices when making $$$ decisions to increase earnings growth rate.

What do you think?

23. Why Privacy Matters?

Boards have a duty of knowledge in addition to fiduciary responsibilities to understand AI trends for value creation. With Apple 's introduction of AI features in iOS 18, iPadOS 18, and MacOS Sequoia, it's clear that AI is changing the world and augmenting human roles in the workplace.What enlightened boards can learn from this?

1?? Engage and oversee environmental impacts to mitigate risks for the long term and SEC's climate rule compliance.

2???Demand the establishment of Chief AI Ethics Office and seek metrics on AI models to improve human rights and well-being.

3?? Seek metrics on AI model accuracy and performance.

4???Establish innovation and technology committees to seek technology reporting and trends in AI democratization across multiple pillars -business users, talent/skills, and technology platform.

5?? Dig deep to understand the CFOs and CIOs' alignment in capital allocation strategies as they have profound impact to EBITDA and EBITDA margins.

6?? Engage and Oversee CTOs on reducing model inference costs as it has OPEX implications.

7???Ready to lead your organization for the new tomorrow and into the future? Seek metrics on compliance, sustainable technology, and security posture management now.

Privacy is essential for digital trust. CEOs should prioritize creating AI ethics board as it is necessary for navigating across different jurisdictions on employee data collection & actions.

? The Board's Risk Oversight must also emphasize the elevation of risk management conversations, as AI could impact all risk domains, including security, privacy, and data bias and manipulation, among others.

? Learn more here from LinkedIn piece (https://lnkd.in/g5YNb4ii ).

24. Activist Engagement on Southwest

LinkedinNews featured my post in a news story (https://lnkd.in/eMjSNddF ) on Activist Elliott's $1.9B stake in Southwest. Poor operating performance may reduce investor confidence and impact Southwest Airlines ability to pursue growth plans.

??Check out my Jan 2023 LinkedIn piece here (https://lnkd.in/e3ifk9QM ) for the Southwest Airlines Board.

? Leslie Picker had fascinating reporting on CNBC this afternoon.

? Check out my take on Boards Role in Activist Campaigns here (https://lnkd.in/ef8kn-23 ).

?? ?What advice do you have for Southwest Airlines Board to handle the Activist Challenge?

25. Why US needs Sovereign Computing Strategy

The US needs a robust sovereign computing strategy and it must encourage open source innovation. Don’t let this be controlled by the very few in big tech.

We have world’s best university ecosystem and they need more compute and government must incentivize them for the greater good.

AI is a multisatekeholder play and we must get it right from the start.

What do you think?

26. What Activists Care?

Elliott Investment Management L.P. Takes Big Stake in Southwest Airlines . Check out my Jan 2023 LinkedIn piece here (https://lnkd.in/e3ifk9QM ) for the Southwest Airlines Board. Activist has position of nearly $2 billion, plans to push for changes to boost lagging shares.

HOW CAPABLE BOARDS RESPOND TO ACTIVIST CHALLENGE?

Khwaja's Take:

? Never deviate from the long-term visions. Do not encourage a “guidance” mindset as it promotes short-termism.

? Transform your board effectiveness with enhanced objectivity, oversight, and agile decision-making.

? Be Open. Learn from activist questions and then act that is good for all stakeholders. Oversee tech debt metrics and top-line growth.

? Look for Win-Win situations around common areas. Leverage Innovation and Technology to reduce costs, streamline operations, and profitable growth.

? Build a well-aligned board composition, foster a culture of trust, and prioritize talent and multi-stakeholder engagement.

? A capable board has good chemistry in reinforcing agility “and” a long-term mindset. Infuse strategic inserts, including Cost Efficiency, balance sheet fortification, and working capital alignment

? Ensure that the board and management present a unified front regarding the company's strategy and value creation imperatives.

? Guarantee success with a capable board that can oversee Earnings Growth Rate through customer retention and new revenues.

27. Emory Shaping Future of Healthcare

I enjoyed my conversation with Emory Healthcare CEO Joon S Lee MD , and Sandra Wong, Dean of the School of Medicine.Emory Healthcare’s commitment to “Patients First” and “Equal Care for All” is inspiring.

Dr. Lee leverages technology and data to enhance patient and provider experiences, ensuring equitable care. Sandra’s work in eliminating rural health disparities and her leadership in diversity and inclusion are pivotal for advancing healthcare education and services.

Under Emory University president's leadership, including Gregory Fenves , and Ravi Bellamkonda the standards for business innovation, inter-disciplinary mindset and higher purpose have been set high.

I counsel Healthcare Boards to oversee capital allocation strategies associated with data, analytics, and interoperability technologies to transform healthcare.

Oversight must include Cybersecurity, digital trust and AI strategies to address workforce shortages, medication & supply chain issues, and rising costs.

28. SEC v. SolarWinds

A Bellwether for Cybersecurity EnforcementThe SEC v. SolarWinds case is a pivotal moment for how the SEC will handle cybersecurity enforcement. With first-of-its-kind theories and charges, this case could set a precedent for future actions against public companies and their CISOs following a breach.Jennifer Lee, Shoba Pillay ,?and Charles Riely have pragmatic advice here.

Khwaja's Take:

? Disclosure of material cybersecurity incidents is paramount.

? Strengthen Cybersecurity risk management, strategy, and governance

? Material aspects of the nature, scope, and timing of the cybersecurity incident are important ingredients.

? Ensure alignment on the likely material impact on the financial condition and results of operations

? Strengthen Board leadership structure and administration of risk oversight, including any committees involved and processes for being informed of cybersecurity risk

? Strengthen and highlight Third-party Risk Management

? Strengthen processes for assessing, identifying, and managing material cybersecurity risks

? Board refresh updates and board committee refresh for assessing and managing cybersecurity risks.

??Companies must carefully describe their cybersecurity practices and risks.

??Consult with counsel familiar with cyber-risk management and SEC enforcement.

??Align CISOs' disclosure and control obligations with company executives.

?? What steps are you taking to align your cybersecurity practices with evolving regulatory standards? Share your thoughts below.

Check out my advice if you are a board chair, lead Director, or sit on a corporate board to strengthen cybersecurity oversight.

TechCrunch found (https://lnkd.in/e7NJpNU7 )?hundreds of Snowflake customer credentials stolen by password-stealing malware?that infected employees' computers with access to their employer’s Snowflake environment.?

Learn more here (https://lnkd.in/e7NJpNU7 ).

29. Energy Demands of AI, impact to Sustainability

Time to Refresh Board Agendas! ??A typical Google search requires 0.3 watt-hours; ChatGPT needs 2.9 watt-hours a request, according to the IEA’s 2024 electricity report. Today's business landscape demands that sustainability impacts be central to board discussions, especially with the rise of Generative AI.

?? Here's why:

1?? Improve compliance & mitigate risk

2???Increase efficiency through resource optimization & the circular economy

3???Differentiate with sustainable products & services

4???Recognize & reduce AI's energy footprint

5???Identify, evaluate & prioritize AI's sustainable use cases

?? CEOs and board members, it's time to lead with purpose. Drive sustainability and innovation together.

What steps are you taking towards a greener future?

30. Navigating Antitrust Scrutiny in M&A:

FTC has sent subpoenas to tech giant and startup, asking whether their partnership evaded required government review. In today's heightened regulatory environment, boards must be more vigilant than ever when overseeing M&A due diligence. The Biden administration's ramp-up in antitrust enforcement has made strategic and private equity buyers rethink the viability of potential deals.

Enlightened Boards excel at Vigilant Oversight including:

1?? Business Judgment Rule

2???Unocal Standard

3?? Entire Fairness Doctrine

4???Engage in ongoing dialogue with management to ensure thorough scrutiny of possible deals.Impact on Private Equity:

Private equity buyers, particularly those involved in rollup transactions, are facing increased scrutiny. Deals now often require prior approval and notice provisions, shifting the burden of proof onto companies to demonstrate non-antitrust behavior.

What steps is your board taking to navigate these challenges?

Seeing this newsletter as a forward?

Subscribe here and browse my previous newsletters and articles here .

For professional insights into complex issues, join the?conversation by tweeting Khwaja at @Khwaja_Shaik or?connecting with him on LinkedIn .

ABOUT KHWAJA SHAIK

Khwaja Shaik, a digital expert and cyber-savvy board director, brings over 25 years of global experience in technology, cybersecurity, sustainability, nimble innovation, and fintech. He is a sought-after advisor for CEOs and boards globally, providing invaluable insights at the nexus of technology, cybersecurity, and financial services. Khwaja drives profitable growth through innovation, digital acceleration, and risk management. With a career spanning renowned companies like IBM , Bank of America Merrill Lynch , Al Rostamani Group , and PwC , he is internationally acknowledged as an authority in corporate governance, technology governance, VC/startup incubation, and digital resilience.

Khwaja advises CEOs, Boards, and Startups on carving out Future-Fit Tech strategies aligned with board priorities. But beyond his illustrious career, Khwaja's true calling lies in altruism. He staunchly believes in weaving noble purpose into business strategies, championing a model of multi-stakeholder capitalism. Committed to societal transformation, he strives to leave a profound impact through socially responsible, ethical technology, and privacy-centric practices.

Khwaja is a visionary leader with a proven track record of success in transforming businesses through innovation and digital. He has an innate understanding of how to harness technology to create better customer experiences and future-proof operations.

At Bank of America , he managed risk and infused Fintech and Cloud best practices into the firm’s strategy, saving the company $1.1 billion per year during the 2008 financial crisis. At PwC , he incubated new businesses to grow revenue across multiple economic cycles, reshaping industry and platform operating models— digitizing end-to-end business processes to capture value, and protecting firms from cyberattacks through digital resilience.

Khwaja has a history of leading over $10B in digital business transformations by scaling Agile practices for cost optimization, revenue-generation, and societal transformation imperatives. It includes strategic oversight, risk mitigation, business optimization, digital business models to capture profitable growth, customer lifetime value & competitive advantage to Fortune 500 firms.

Khwaja delivered a modern banking platform and transformed the Omnichannel customer experience through world's largest Contact Center platform, serving 1 billion calls, as part of BofA's M&A (CFC, MBNA, Fleet, etc.) to support the AI-led growth strategy.

Khwaja is one of the most exceptional IBMers appointed, with the rare distinction of IBM Academy of Technology member. Holds many patents serves on IBM’s Invention Board. Khwaja is one of the top 100 leaders elevating corporate purpose, driving AI ethics, privacy, data stewardship, regulatory/compliance and sustainability. He provides the direction of IBM's long-term strategy through ESG and good tech.

Khwaja serves on the Museum of Science & History and University of North Florida boards to promote economic equity, social, diversity, and inclusion for the prosperity of all. He teaches emerging tech, systemic risks, cybersecurity, AI ethics, and privacy-by-design efforts at University of North Florida and Competent Boards .

Khwaja is a frequent speaker on Board Practices, Technology, and Cybersecurity at NACD (National Association of Corporate Directors) , Competent Boards , New York University School of Law , American College of Corporate Directors , Boardswell etc.

Khwaja is a Fellow of The Herndon Foundation Board Institute, sponsored by Nasdaq & Atlanta Life. Khwaja is proud to be part of both Ascend Leadership 's Pinnacle Aspiring Directors Academy and University of North Carolina at Chapel Hill School of Law's 2023 DDI Board Boot Camp. Khwaja holds an MBA and an Engineering degree. Khwaja lived in India, Middle East, experienced three different cultures, reads too much, doesn’t do enough gardening, married for over 24 years with two remarkable boys.

More details on Khwaja’s career and thought leadership activities could be found via Linkedin, Khwajashaik.com or follow him on Twitter @Khwaja_Shaik

"The postings on this site are my own and don't necessarily represent IBM's positions, strategies, or opinions."