Khwaja's Take: IBM's Flagship Office, Digital Trust, Events at Disney & Boeing, EU’s Digital Services Act, Purpose-led CEO, IBM's AI stories, and more

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. Data Breaches affect Trust and Long-term Value Creation

As I highlighted (https://shorturl.at/0zNRF ) in the 09/05th Linkedin News feature, elevating trust across all aspects of domains—including the adoption of emerging technologies—should be a top priority for boards and CEOs alike.

Trust is the currency of business. As technologists or digitally savvy and cyber-savvy board directors, we have a crucial role to play. We must recognize that our stakeholders—customers, employees, shareholders—demand transparency, accountability, and a commitment to privacy, security, and ethical practices.

In an era where data breaches have become the norm, the question isn't whether your organization will face a breach, but how prepared you are to respond and protect your most valuable asset: trust.

The WSJ's revelations (https://shorturl.at/9tURP ) about The Walt Disney Company 's leaked data underscore a critical truth: privacy and security must be treated as competitive advantages, not mere compliance checkboxes.

As reported by Omdia, 66% of breaches stem from data exposure, making it clear that the landscape is shifting. Traditional hacking methods are giving way to more sophisticated techniques like inference attacks, which exploit known data to infer sensitive information without direct system infiltration.

For Board Chairs and Lead Directors, the imperative is clear. Here are actionable strategies that I recommend to fortify your organization’s privacy and data security posture:

? Align Data Protection with Business Needs: Calibrate your risk appetite to make informed decisions that support your strategic objectives.

? Engage General Counsel: Understand the evolving threat landscape and prioritize risks effectively for both immediate and long-term resilience.

? Recognize Data as new Capital: Staying ahead of regulatory changes is not just a legal obligation; it’s a strategic imperative that can differentiate your organization in a crowded marketplace.

? Oversee Privacy-by-Design Metrics: Tie senior management compensation to privacy outcomes, ensuring accountability at the highest levels.

? Prepare for Legislative Changes: The upcoming American Privacy Rights Act will set new standards; proactive compliance is essential.

? Emphasize Stronger Compliance Metrics: Focus on enforcement, data protection training, and the quality of training data for AI systems.

? Cultivate T-Shaped Skills: Refresh your board with members who possess deep privacy expertise alongside broad business acumen.

? Establish Accountability: Utilize the NIST Privacy Framework to ensure executive-level responsibility for privacy risk assessment.The future of business hinges on your board effectiveness and senior management's ability to safeguard privacy and data. Let’s not just react to breaches; let’s lead the charge in creating a culture of trust and responsibility.

2. CEO's Role in the "new" Era

The sudden departure of Ken Solomon from the Tennis Channel highlights a crucial lesson for boards and CEOs alike.

If you’re on a board or lead Director or Board Chair, consider these pivotal questions:

? Is your CEO making a meaningful impact?

? Is he fully aligned with the company’s strategic goals?

? Should the board explore the co-CEO structure to enhance leadership effectiveness?How is your Board engaging on these trends with the demands of the future?

3. IBM's AI Stories

?? In this episode of AI in Action, ESPN host Mike Greenberg discusses the importance of making game decisions based on data and how generative AI is changing the fantasy football space.

IBM Granite Leads Open-Source LLMs on API Calling

Large language models are being used to help with tasks like finding software bugs and planning a trip. Automating these tasks depends on calling upon the right API (or application programming interface), linking LLMs to software tools and the ability to interact with the outside world.

The future is clear: organizations that embrace this technology will not only enhance their operational efficiency but will also unlock new revenues through AI innovation.

4. Business Resiliency Under Attack.

Per WSJ (https://shorturl.at/HZ0ch ), About 60% of Delta’s key applications are Windows-based and the outage rendered them inoperable, the airline said. In an era where technology underpins every aspect of our operations, the recent Delta Air Lines outage serves as a stark reminder of the system vulnerabilities that can disrupt even the most established brands like Delta.

The incident, which left Delta struggling to manage its operations due to a failure in its Windows-based applications, highlights critical lessons for boards navigating the complex landscape of technology, risk, and business resiliency.

First and foremost, the root causes of this outage—system vulnerabilities stemming from CrowdStrike 's inadequate testing, insufficient anomaly detection, and a lack of robust rollback procedures—underscore the necessity for boards to prioritize comprehensive oversight of technology governance.

Metrics on testing and quality assurance processes should not just be a checkbox; they must be central to board discussions. Moreover, the reliance on a fragile Windows stack reveals a significant concentration risk.

Boards must ensure that third-party risk management/oversight is not merely an afterthought but a proactive strategy that holds operating system vendors and independent software vendors accountable.

The conversation around business resiliency must be deep and forward-looking. Should we adopt a "walled garden" approach (Apple's approach vs Microsoft) that limits direct access to third-parties, or embrace an open strategy that fosters risks, collaboration and agility?This is not just a technology discussion; it’s a strategic imperative that can define firm's organizational resilience and competitive advantage.

Finally, regular periodic board reviews of management's abilities in prevention, response, and support procedures for large-scale outages are essential.

Boards should demand updates on business continuity plans and ensure that downtime procedures are not just theoretical but practical and actionable. As we navigate these challenges, How is your Board embedding resilience into your corporate DNA.

The future of your organizations depends on it. What steps is your board taking to strengthen technology governance and business resilience?

5. EU’s Digital Services Act

In a world where globalization is changing, and slowing with new architectures, the role of boards in navigating the complexities of trade and geopolitical risks has never been more critical.

As I engage with C-suite executives and Board Directors, a recurring theme emerges the necessity for robust board oversight in the face of rising global trade disputes.

The geopolitical tensions, particularly between China and its major trading partners, are not just headlines; they represent a profound shift that demands our attention.

Regulating tech is quite different from regulating financial services as it has privacy and ethics implications. Countries like China and India remain pivotal to your growth strategies, yet the risks associated with supply chains, compliance, finance, talent, and reputation are escalating. Boards must strenghten their risk oversight to encompass these emerging threats.

Reflecting on Modi's visit to Singapore, I urge board members and risk committee chairs to consider:

? What strategic enablers should you prioritize to fortify your organization against these uncertainties?

? Are you prepared to assess and mitigate our interconnected world's multifaceted risks?

The future of your company hinges on your ability to adapt and innovate. By embracing strategic agility and active board engagement on systemic risk, you can not only safeguard your enterprises but also take control and contribute to a more resilient global economy.

6. Board's AI Oversight Must Be Holistic including Ethics and Compliance

Per The Wall Street Journal , (https://shorturl.at/ZjyL3 ) xAI and Google both released products that have created controversy over ethical and legal boundaries.

What if the key to navigating the complexities of AI lies not just in technology but in the very structure of our corporate boards?

The challenges are immense as we navigate the AI revolution. From AI risk oversight to increased attack surface due to AI, the stakes have never been higher. Yet, many boards still lack the “T” shaped expertise (including AI, Cybersecurity, ESG, Climate etc.) to guide their organizations in this poly-crisis era. Consider this: nearly half of companies take no follow-up action after evaluating director skills. This is a missed opportunity. The landscape is shifting rapidly and established players like Google and countless startups are grappling with the governance of responsible AI technology.

Here are some takeaways I share during my conversation with CEOs, Board Chairs, and lead Directors to make their respective Boards Future Ready:

? Data is the new capital. It’s imperative to align your data protection strategy with your business needs. Understand your risk appetite and make informed decisions.

? Collaborate with your General Counsel and Risk Officers to prioritize risks effectively. This isn’t just about today; it’s about the long-term health of your organization.

? Stay ahead of the regulatory curve. The upcoming American Privacy Rights Act is just one example of why compliance must be a priority.

? Embrace privacy-by-design practices. Tie senior management’s compensation to these practices to reinforce accountability.

? Refresh your board with “T” shaped skills, including privacy expertise. This is not just a trend; it’s a necessity.

? Build a culture of trust and engagement.

A well-aligned board composition fosters agility and a long-term mindset. The question is, how capable are your boards in overseeing responsible and trustworthy AI?

Let’s seize the opportunities AI presents while mitigating risks through human-in-the-loop practices. Treat your data as a competitive advantage, and never outsource your AI strategy to an API call.

What steps is your board taking to ensure responsible AI Governance?

7. The Importance of "T" shaped Board Director

What does it take to be a truly effective board director in today’s rapidly evolving landscape?

As I reflect on the remarkable career of Nicholas Donofrio , whose insights and leadership have shaped IBM and beyond (including AMD), one thing stands out: the power of the “T” shaped director.

This concept transcends mere expertise; it embodies a holistic understanding of the business ecosystem. A “T” shaped board director excels at active engagement and collaboration, bridging the gap between the board and management. They don’t just know their niche; they grasp the intricate web of business models and value propositions that drive success. This breadth of understanding is crucial, especially as we navigate the complexities of enterprise risk and technological disruption.

What skills do you think are essential for a modern board director?

8. What Boards can Learn from Fareed's GPS

Fareed Zakaria’s GPS segment on CRISPR struck a chord with me. It’s not just about scientific breakthroughs; it’s about how we harness these innovations to drive sustainable growth and create a competitive edge.

As someone who has spent over 25 years guiding C-suite, CEOs and Boards, I can confidently say: innovation is no longer a luxury; it’s a necessity. The landscape is shifting rapidly, and those who don’t adapt will be left?behind.

CRISPR is not just a scientific marvel; it has the potential to reshape our approach to food security, healthcare, and pharmaceuticals. Imagine crops that yield more, are richer in nutrients, and can withstand the challenges of climate change. This is the future we can create if we act decisively and strategically.

For board chairs and lead directors, overseeing innovation is no longer optional; it’s essential. As you set the path to stronger corporate strategy, treat innovation as a strategic asset with resource fluidity to win the long game.

In addition to leadership unity, here are key board strategies to ensure your organization thrives in this rapidly evolving landscape:

? Industrialize Innovation Practices: Adopt frameworks that promote ethical practices, reduce tech debt, and create scalable value propositions.

? Focus on Human Capital: Prioritize skills that matter—business acumen, emotional intelligence, and agility are now non-negotiables.

? Shift Your Mindset: Move from minimum viable products (MVPs) to minimum marketable products (MMPs). This shift is crucial for long-term success.

? Refresh Board Skills: Ensure your board is equipped with “T” shaped skills—tech-savvy, security-aware, and digitally fluent.

? Diversity and Inclusion: Metrics on talent diversity should be part of your oversight to democratize the innovation portfolio.

? Balance Innovation Types: Winning requires both incremental and radical innovation that aligns with your strategic goals.

? Collaborate for Success: Engage with external partners and venture capital ecosystems to unlock transformative value.The time to act is now. Infusing innovation into your organizational DNA is not just a strategy; it’s a necessity for survival and growth.

What do you think? Let’s champion a future where technology serves humanity, fostering a sustainable and prosperous world.

9. For Boards, DEI Acts as a Catalyst for the Long View.

Is your organization truly reflecting the diverse fabric of society, or are you just checking boxes??

As the luminary Anne-Marie Slaughter pointed out in her recent Financial Times article (https://shorturl.at/f8bMy ), achieving genuine Diversity, Equity, and Inclusion (DEI) is not merely a noble intention; it’s a demographic and economic imperative.

In my experience as a Board Director, I’ve seen firsthand how integrating DEI into the organizational DNA can transform not just culture but also business outcomes. When DEI is treated as a cross-functional imperative, it influences every aspect of the business—from recruitment to retention, and even innovation.

Consider this: leveraging data to craft effective DEI strategies can lead to increased equity in hiring across socio-economically diverse populations. It’s about creating pathways for talent that have historically been overlooked.

But let’s broaden our definition of diversity. It’s not just about race and gender; it encompasses neurodiversity, age, socioeconomic background, and physical abilities. By expanding our talent landscape, we can foster more inclusive practices and develop products that resonate with a wider audience. Take IBM , for example. Their commitment to diverse teams for AI governance underscores the importance of varied perspectives in driving innovation and ethical decision-making.

The bottom line? DEI is at a pivotal moment. Boards have a unique opportunity to ensure that genuine inclusion becomes a core business strategy, not an afterthought.

10. Are Boards prepared for the waves of evolving cybersecurity regulations??

As cyberattacks escalate, the demand for transparency is surging. The article (https://shorturl.at/Du8mW ) by James Rundle in The Wall Street Journal highlights a critical shift: various regulators are now insisting that organizations report breaches promptly. This isn't just a compliance issue; it's a wake-up call for boards and executives across all sectors.

Consider this: U.S. cyber insurance claims have hit record highs. For those on Private Equity boards, this is a clear signal that the appetite for Managed Security Services is growing. The risks are not just theoretical; they are materializing in real-time, impacting both financial stability and consumer trust.

The SEC's rules, particularly the new Form 8-K Item 1.05, mandate that public organizations disclose any material cybersecurity incidents without unreasonable delay. This is a game changer. It means that organizations must be prepared not only to respond to incidents but also to communicate effectively and transparently about them.

But here's where it gets tricky. The SEC has removed the requirement for board cybersecurity expertise, which raises concerns about oversight. Boards must now take the initiative to improve organizational resilience. This involves digging deep into identity and access management (IAM) maturity and conducting culture audits to foster a risk-aware environment.

A tech-savvy board director can make a significant difference in overseeing a data-decoupling strategy. AI will augment human efforts, not replace them. Implementing a contextually appropriate security behavior and culture program is essential.

As we approach the compliance deadlines for new regulations, organizations must disclose their processes while navigating the complexities of national security exceptions. The clock is ticking, with compliance started as early as December 2023 for many organizations.

Now, I ask you: How prepared is your board to meet these evolving demands?

11. Boards Oversight on AI Value Plays Matter

Is your board ready for the AI revolution, or are they still playing catch-up?

My recent discussions with CEOs, Board Chairs and Lead Directors have revealed a striking trend: the urgency for AI strategy is palpable. Boards are not just looking for productivity and efficiency gains; they want to see tangible revenue increases through innovative software engineering. Yet, there’s a catch.

The generative AI landscape is evolving faster than many boards can keep up with. OpenAI, once the undisputed leader, is now facing a myriad of challenges: intense competition, reputational risks, cybersecurity threats, and an ever-changing regulatory environment. These factors are not just hurdles; they are critical considerations that boards must navigate to make informed capital allocation decisions.

As I have said over the years, An open-source AI approach democratizes access to AI, ensuring that its benefits are not concentrated in the hands of a few tech giants.

What’s more concerning is that many boards lack the deep technical and cybersecurity expertise necessary to oversee these complexities. This gap can lead to missed opportunities and misguided investments.

As companies like AI pioneers IBM and new entrants like Mistral enter the fray, offering tailored solutions that meet specific business needs, the stakes are higher than ever.

So, what does this mean for the future? Boards must prioritize building their tech and cybersecurity acumen. They need to actively engage with management demystify AI and its implications. This isn’t just about understanding the technology; it’s about leveraging it to drive strategic growth.

As we move forward, the question remains: How will your board adapt to these changes? Are they equipped to make informed decisions in this rapidly evolving landscape?

Fascinating piece by Christopher Mims . How is your board approaching AI strategy?

12. NFL Alert!!

Private Equity has a bad reputation for buying firms and destroying them, liquidating businesses, selling off assets, sacking employees, or drowning companies with impossible amounts of debt. However, I would like to highlight M Alardhi 's forward-thinking and value creation mindset.

Under Mohammed Alardhi's vision, Investcorp 's philosophy shines as growth investors with the potential for long-term, above-market growth. Should we give a controlling share or substantial minorty investment if it is Investcorp? Investcorp will have more influence over the growth strategy of National Football League (NFL) . Investcorp provides a wealth of expertise, including Investcorp's network of actively engaged advisory directors and independent board directors, all of whom are seasoned executives with high track record records that may not be available for NFL Teams such as Cincinnati Bengals , Detroit Lions , etc.

Refer to this The Wall Street Journal article (https://shorturl.at/LuqDx ) and my LinkedIn newsletter (https://shorturl.at/q7EKb ) where I shared my insight on Jacksonville Jaguars 's Shad Khan, before you comment.What do you think?

13. Board's AI Oversight

Fascinating piece by Emily Glazer on Board’s AI Oversight. I counsel Board Chairs and Lead Directors to integrate AI with the business strategy as it has a multistakeholder lens. Sign up to my LinkedIn newsletter if you want to learn more here (https://shorturl.at/yoKlh ).

AI is a strategic asset that drives both short and long term objectives. Boards must instill strategic agility and external antennae with an active oversight and engagement with management in co-creating AI strategy for the value creation.

Good to see reference to Dominique Shelton Leipzig as she is doing amazing things in the responsible AI space.

14. Boards Must Scale Moral Leaders by Overseeing Non-Financial metrics

In an era where moral leadership is in crisis, the legacy of Mike Ullman serves as a powerful reminder of what true leadership looks like.?Learn more here (https://shorturl.at/OStW1 ).

Mike, who passed away in August, was not just a corporate fixer; he was a beacon of integrity and genuine humility. His ability to foster trust within teams was unparalleled. In just a couple of minutes of conversation, I felt a sense of safety and respect that is increasingly rare in today’s fast-paced business world.

My last conversation with Mike Ullman back in 2023 still touches my heart and strengthens my higher purpose. He liked my perspectives on the importance of EQ, global intelligence, cultural intelligence, and treating everyone as equals -genuine humility.

He believed that effective leaders must embody three core qualities: honesty, recognition of others' contributions, and genuine humility. These traits not only inspire loyalty but also drive collective success.

As we navigate the complexities of modern business, it’s crucial to reflect on the kind of leaders we aspire to be. Are we prioritizing empathy and authenticity? Are we creating environments where everyone feels valued?

Mike Ullman’s legacy challenges us to rethink our approach to leadership. It’s not just about achieving results; it’s about how we achieve them. Let’s honor his memory by committing to lead with integrity and compassion.

Checkout my LinkedIn piece I wrote about Mike Ullman back in July 2023 here (https://shorturl.at/B21np ).

15. My Take on OpenAI

The world of generative AI is at a crossroads, and the decisions made today will shape the future of technology and business. Boards must up the game in assessing strategic options and show strategic agility for company renewal.

I loved Roger McNamee’s insights on Sam Altman and OpenAI at CNBC , and I couldn’t agree more. While NVIDIA deserves its accolades for hardware innovation, the real question is: how long will we wait for the productivity and value that Altman has been promising? Incentive structure is misaligned. The promises from two years ago and one year ago have not come true.

With a staggering $150 billion invested in infrastructure and revenues that are still in their infancy, the risk is becoming increasingly apparent. Investors must consider causation, not just correlation, when evaluating the potential of these technologies.

Check out my take here (https://lnkd.in/en8HQ7ri ), where Linkedin News highlighted it as OpenAI eyes for $100N-plus value. OpenAI has been a leader in the space, but the competitive landscape is rapidly evolving. Companies like IBM and Mistral are not only developing rival models but are also creating tailored solutions that meet specific business needs.

As organizations begin to explore alternatives to GPT-3.5 and 4, the demand for specialized, cost-effective models is growing. Businesses are moving away from one-size-fits-all solutions and are seeking tools that integrate seamlessly into their workflows and deliver real results.

For OpenAI, the challenge is clear: enhance models to be more practical, safe, and user-friendly. This is essential for maintaining a competitive edge and overcoming the adoption hurdles many organizations face.

As we look ahead, it’s crucial for Boards to prioritize metrics on Open Science, Open Communities, and Open Innovation. Staying informed and adaptable is key in this dynamic environment.

What are your thoughts on the evolving landscape of generative AI?

How do you see specialized models shaping the future of value creation from a Board's AI oversight perspective?

16. Speed and Velocity of Change are part of Boards Agendas

Moral decisions matter. Tradeoffs between Safety and Speed matters when it comes to AI. An important reflection for the boards as they oversee ethics and compliance matters.

17. Boards Must Stay Current With Evolving Landscape of Generative AI

My phone has been buzzing with CEOs, Board Chairs, and Lead Directors discussing future-proofing AI strategy. Check out my take here (https://lnkd.in/en8HQ7ri ), where Linkedin News highlighted it as OpenAI eyes for $100N-plus value.

The landscape of generative AI is evolving at an unprecedented pace. As I have said over the years, Boards lack deep and wide tech expertise to oversee management and make prudent capital allocation decisions.

OpenAI has long been a frontrunner, providing powerful models that certain enterprises rely on. However, the competitive landscape is shifting. Companies like IBM and Mistral are not just developing rival models; they are also crafting tailored enterprise solutions that address specific business needs. As organizations begin to explore alternatives to GPT-3.5 and 4, the focus is shifting toward models that are more cost-effective and specialized.

This trend highlights a crucial point: businesses are no longer looking for one-size-fits-all solutions. They want tools that can seamlessly integrate into their existing workflows and deliver tangible results.

For OpenAI, the challenge lies in enhancing its models to be more practical, safe, and user-friendly. This is vital for maintaining its competitive edge and addressing common adoption hurdles that many organizations face. But what does this mean for the broader ecosystem?

As LLM providers delve deeper into enterprise application development, we must consider the implications for vendors that have emerged to meet these needs. Will they adapt, or will they find themselves overshadowed by larger players?

The future of generative AI is not just about competition; it’s about collaboration and innovation. As we navigate this dynamic environment, it’s essential for Boards to seek metrics on Open Science, Open Communities, and Open Innovation and stay informed and adaptable.

What are your thoughts on the evolving landscape of generative AI?

How do you see the role of specialized models shaping the future of value creation from Board's AI Oversight standpoint?

18. M&A Activity on the Rise in AI Space

AI M&A activity hits new high(https://shorturl.at/dHK3y ) amid genAI rush. What does it imply if you are a Board Director. Value migrates if you are not nimble. This raises the importance of AI Strategy in making strategy stronger through compelling sense of purpose, shared strategic context and management's inclusive culture in democratizing bottom-up initiatives, autonomy, and freedom.

What do you think?

20. Business Resiliency depends on Board's Systemic Risk Governance

Accountability matters!! A lot to learn here (https://shorturl.at/MiUJ9 ) for the boards. Buggy updates are no longer acceptable if digital trust is non-negotiable. Reputational hit, market hit and much more. Future subscriptions will be impacted.

What do you think if you are overseeing the management for the value creation and business resiliency. Learn more here from my LinkedIn piece (https://shorturl.at/rZBCH ).

For OpenAI, the challenge lies in enhancing its models to be more practical, safe, and user-friendly. This is vital for maintaining its competitive edge and addressing common adoption hurdles that many organizations face. But what does this mean for the broader ecosystem?

As LLM providers delve deeper into enterprise application development, we must consider the implications for vendors that have emerged to meet these needs. Will they adapt, or will they find themselves overshadowed by larger players?

The future of generative AI is not just about competition; it’s about collaboration and innovation. As we navigate this dynamic environment, it’s essential for Boards to seek metrics on Open Science, Open Communities, and Open Innovation and stay informed and adaptable.

What are your thoughts on the evolving landscape of generative AI?

How do you see the role of specialized models shaping the future of value creation from Board's AI Oversight standpoint?

21 Every Board Should be a Catalyst Board

I like the “catalyst” board term used by McKinsey & Company here to advance board excellence to the new realities. The good to great companies are those where no silos exist between governance and strategic management. Boards have a pivotal role in providing a sense of direction anchored with higher purpose and good tech for the value creation. History will decide on their legacy in their stewardship and digital trust.

Making technology governance more strategic is a win-win for short- and long-term visions and staying competitive. What do you think?

22. Importance of Innovation/Technology and Cybersecurity Committee

Ever wondered how we can elevate our boards to engage and co-create future-proof strategies? ?? Tarun Khanna , Mary C. Beckerle, and Nabil Sakkab have brilliantly encapsulated this in their seminal piece at HBR. They echo a vision I've passionately advocated at NACD Panels, New York University School of Law , Chief Executive Group 's ACCD, and Nasdaq board member exchanges.

Building an effective board with robust tech and cyber expertise isn't just important—it's imperative. I've been counseling Board Chairs and Lead Directors to create tech/innovation "and" cybersecurity committee. This vital committee can revitalize a company's strategic direction and oversee ethical technology practices, ultimately acting as catalysts for good to great governance, company renewal, and societal value.

And don't miss Nicholas Donofrio 's counterexample referred to in the HBR piece. Nick's insights are always illuminating and pragmatic.Let's embrace the future with a higher purpose, good tech, and foresight. ????

23. Fedex CEO's Advice in Navigating Disruption

Inspiring, practical, and timely!! Learn more here (https://shorturl.at/KLjsD ) about FedEx CEO Raj Subramaniam 's drive for opportunity and optimism for the new tomorrow. Raj is a special breed with contextual intelligence who can speak multiple languages (strategy, talent, technology, and geopolitical risk tailored to business).

Raj's digital dexterity shows radical curiosity and pragmatism. I counsel Board Chairs and lead Directors to look for these CEO attributes as part of CEO Succession Planning.

What do you think?

24. What it Means to Be the Most Innovative Company

Who do you believe to be the most innovative company in the world? Has the company been able to reimagine who they are over and over again? In IBM , you have got a company that has done that, from mainframes and hardware and then pivoting into services, and from there into software. Now IBM is heading into hybrid cloud and AI under Arvind Krishna ’s leadership.

If you are an IBM client and have received invitation for IBM ’s TechXchange, don’t miss it. It is a great event to take ideas and embed it in your business/customer journey maps.

25. Importance of Board's Oversight on Government Partnerships

Number of startups have been dwindling in the U.S says Ruchir Sharma. In my 114th LinkedIn article (https://shorturl.at/vTzKo ), I stressed the Board's critical role and the importance of Board Oversight on Company and Government Partnerships. It is the only way for the value creation and democratize social value. Open-source AI plays a significant role in value creation. Without Safety evaluations "and" Tech Equity, there is no business resiliency and greater good. What do you think?

26. Board's Pivotal Role in Getting Right Leadership

Boeing 's assumed dominance is in display here. The new CEO must understand its business system rigidity and management competency gaps.

Is it a lack of leadership unity or resource fluidity that is causing issues with Boeing's Space Arm? What do you think?

27. Power of Business and Government Partnerships For the Value Creation

In an era where technology and market adoption for societal good are paramount, the recent opening of IBM 's flagship office at One Madison Avenue serves as a powerful testament to the potential of business and government partnerships.

Under the visionary leadership of Arvind Krishna , IBM has not only set a higher standard for inclusive capitalism but has also highlighted the critical role that technology plays in driving economic growth and societal progress.

As we witness the convergence of industries, the importance of fostering innovation through business and government partnerships cannot be overstated. The remarks from key figures, including Senate Majority Leader Chuck Schumer and New York Governor Kathy Hochul, underscore a collective commitment to building a prosperous future. Their words resonate deeply: a thriving tech sector is essential for creating jobs and opportunities that benefit all New Yorkers.

IBM's new office, designed to facilitate collaboration and innovation, is a beacon for the future of work. It embodies the agile and adaptive mindset that organizations must adopt to remain competitive in today's fast-paced environment.

As leaders, we must recognize that our strategies should align with a broader purpose—one that champions multi-stakeholder capitalism and prioritizes societal transformation. The partnership between the public and private sectors is not just beneficial; it is imperative for sustainable growth.

I invite you to reflect on how your organization can leverage partnerships to drive innovation and create lasting value.

What steps can we take to ensure that our business strategies are anchored in a noble purpose?

Let’s engage in this vital conversation. Share your thoughts in the comments below,

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."