Business school lecture series brings renowned leaders to campus

The school, through its Business Colloquium Series, frequently brings prominent business and thought leaders to address its students, campus, and surrounding community at the school’s Troesh Conference Center. Srivasta spoke Nov. 1 on the “Digital Transformation and the Future of India” and discussed the myriad ways in which the world’s second most populous nation has used technology in recent years to make giant leaps forward and to plan for its future.

“Listening to Akhilesh Srivastava’s vision and passion for India’s future provided inspiration for many La Sierra University students including myself.” -- David Barrales, finance major, Investment Club president

Srivastava serves as the head of a major road safety and technology project of the World Economic Forum called Road Safety 2.0. He was also recently appointed to serve as a road safety ambassador by the International Road Federation, a global nonprofit that is involved in all road policies and development worldwide. Srivastava is also a consultant to the government of India and a member of the board of governors of the Engineering Council of India among other appointments. He is working with the forum, the Indian government, the government’s central public policy think tank Niti Aayog, and the Union Road Transport Ministry in implementing the Road Safety project which was announced in 2021. 

The project’s objective is to utilize technology toward achieving a 50% reduction by 2025 in deaths stemming from road accidents. According to reports, India in 2018 ranked No. 1 of 199 countries for numbers of road fatalities. Road Safety 2.0 is using a four-pronged approach through education, engineering, enforcement and emergency care.

Srivastava provided overviews of some of the technology being tested and implemented such as cameras in smartphones that can detect when a driver is too drowsy. He also described the FASTtag electronic toll collection system which he was instrumental in developing and which hosts more than 17 million users and more than 4 million daily transactions. The toll system has generated $67 billion in revenue.

Srivastava discussed India’s significant economic and technological growth over the past few years. The nation of nearly 1.4 billion, which achieved independence from British colonial rule in 1947, surpassed its former ruling nation for the first time in 2022 to rank as the fifth largest economy in the world by nominal GDP, which reached $3.8 trillion.

“Technology has that power and that power we’re utilizing to transform India digitally.” -- Akhilesh Srivastava, Road Safety 2.0 project leader, World Economic Forum

He touched on several technology programs and movements that have significantly impacted India’s economy and society, notably the growth of its information technology sector which has increased 15 – 20% in the wake of the COVID-19 pandemic with anticipation that the industry will soon surpass 20% growth. The launch in 2016 of a Unified Payments Interface or UPI that facilitates financial transactions through the use of QR codes on smart phones and other devices is credited with spurring significant economic growth. The platform allows instant transactions to occur across language barriers, Srivastava said. “In just six years it has become the backbone of the Indian economy,” he said. He noted that the infrastructure to support such technological improvements is expanding throughout India including development of 5G broadband cellular networks. India is also the world’s second largest manufacturer of mobile phones.

Srivastava cited the goal created in 2014 by newly appointed Prime Minister Narendra Modi who set as part of his agenda an initiative to make bank accounts available to all families, for eventual transfer of government subsidies directly into those accounts. Srivastava noted the development of a mobile app and portal that allows individuals to access and download birth certificates and other documents via their phones, as well as the country’s use of single-platform technology in mapping and planning infrastructure, logistics and economic development.

“Technology has that power and that power we’re utilizing to transform India digitally,” Srivastava said. “…What we are planning is now to shift the focus slightly to advanced technology,” such as blockchain technology for streamlined management the population’s health care, he said.

The audience for Srivastava’s talk included regional community stakeholders and campus leaders as well as business students.

David Barrales, a La Sierra University senior finance major and president of the business school’s Investment Club was among the attendees who filled the Troesh center. He met with Srivastava following his talk. “Listening to Akhilesh Srivastava’s vision and passion for India’s future provided inspiration for many La Sierra University students including myself,” Barrales said. “I am extremely grateful I had the opportunity to meet and listen to Akhilesh in this insightful event.”

The school’s Business Colloquium Series has a long history of bringing accomplished and impactful individuals to speak to its students and the campus community. Presenters have included Tim Mead, former president of the National Baseball Hall of Fame and Museum who gave a talk on Nov. 15 at Troesh as part of a business school pilot program in sports management. Mead previously held a 40-year career with the Los Angeles Angels including 22 years as the team's vice president of communications. He provided general advice to students seeking a career in the sports industry, discussed his experiences, and passed around his 2002 Angels World Series Championship ring for students to view and hold.

Other noted individuals who have lectured at Troesh Conference Center include Peter T. Leeson, George Mason University economist well known for examining the economics of piracy during its golden age; Benjamin Powell of Texas Tech University, who discussed his book “Out of Poverty” about the economics and ethics of sweatshops;  Michael C. Munger of Duke University, who discussed key issues in his book “Tomorrow 3.0: Transaction Costs and the Sharing Economy”; and David D. Friedman, economist at the University of Santa Clara and son of Nobel laureate Milton Friedman, who explored issues in his books related to law and economics, technological change, and legal systems that differ from that of the U.S. 

Future colloquium lectures will feature Brian Wright, a business school alumnus and general manager of the NBA's San Antonio Spurs.

Thomas said he invited Srivastava to speak because he was impressed with Srivastava’s commitment “to making change by harnessing technology to enhance road safety. I believed our students, staff and faculty members as well as members of our community would be stimulated and enriched by the opportunity to learn from someone whose ideas have already been part of the conversation at the World Economic Forum,” Thomas said.