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India Buckles Down On Digital With IIM Ahmedabad, Bank Of America Collab

India is dialing up digital development with the launch of the Centre for Digital Transformation (CDT), a joint collaboration between the Indian Institute of Management Ahmedabad (IIMA) and Bank of America.

The CDT will serve as an epicenter and information hub that can be used by academia and policymakers, according to a Thursday (Aug. 26) press release from Bank of America. The Centre indicated that it can be a resource for the private sector as well. Its overall aim is to advance research that leads to “digital transformation and innovation.”

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Professor Errol D’Souza, director of IIMA, said at the announcement of the CDT’s launch that the IT space is “transforming the way we function” and it continues to swiftly grow. He added that the pandemic further showed the importance of implementing digital operating models, the release stated.

D’Souza said in the release it is now evident that the “adoption of technology” is something that has to be a priority for “industry, institutions and nations.”

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In the release, Bank of America Chief Operations and Technology Officer Cathy Bessant pointed to how fast the economy worldwide became “more reliant on digital technologies.”

“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,” Bessant said in the release. “It’s how we’ll ensure we’re creating and implementing technology responsibly.”

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The CDT is also establishing an advisory board — the Council on Responsible Digital Transformation — which will be headed by the IIMA. Its purpose is to connect stakeholders to offer input and take ownership of “the urgent needs and unique perspectives on digitalization,” according to the release. 

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