Digital transformation is no longer an option for most organizations. The question is how we can deploy and transform resources in areas such as rethinking business models, improving customer experience or customer service, driving innovation and using data analytics more effectively.

But how do you measure the results of this transformation? What are the advantages? What about planning for technology investments and culture change? A digital transformation strategy must take all these points into account.

To get practical advice, we speak with Sastry Durvasula, the Chief Information & Client Services Officer at TIAA, to learn how a large organization evolves and transforms. With more than 1.4 trillion assets under management, TIAA serves approximately 5 million customers and was founded in 1918 by Andrew Carnegie.

These are the topics we discuss:
— What is TIAA and how big is the company?
— What does digital transformation mean for TIAA?
— Why are both culture and technology important for digital transformation?
— How can organizations avoid risks during digital transformation?
— What is the impact of corporate politics on digital transformation?
— How do organizations break data silos for digital transformation?
— What is the connection between customer experience and digital transformation?
— What is the role of the ecosystem in the digital transformation?
— What is the impact of diversity and demography on digital transformation?
— Advice to business leaders on being successful with digital transformation?

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Sastry Durvasula joined TIAA in 2022 as Chief Information & Client Services Officer, responsible for leading the global technology and client services organizations.

Sastry comes to TIAA after most recently serving as Global Chief Technology and Digital Officer and Partner at McKinsey & Company. In that role, he led the strategy and development of the company's distinctive digital products and platforms, internal and customer-facing technology, data & analytics, AI/ML, the cyber and hybrid cloud ecosystem, and served as a senior advisor on the area of customer engagement. Prior to joining TIAA, he held positions as Chief Digital Officer, Chief Data & Analytics, CIO and Global Technology Leadership at insurance broker and risk management firm Marsh and at American Express, where he worked for 15 years. He also served as a consultant to several Fortune Global 500 companies.

Sastry is a passionate advocate for diversity and sustainability. He serves on the Board of Directors of Girls in Tech, the global nonprofit organization dedicated to closing the gender gap in the tech sector, and has championed industry-wide initiatives focused on women in tech, including #ReWRITE and Half the Board . Sastry has a master's degree in engineering from the Indian Institute of Science, has 30 patents to his name and plays a leading role in consortia between the technology industry and academia.

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