Fourth industrial revolution is an opportunity: experts
There is nothing to be worried and afraid about the fourth industrial revolution as this transformation might create employment opportunities rather than turning a massive number of people redundant, said experts yesterday.
Looking back when the first, second and third industrial revolutions took place, people in many countries thought that the arrival of the computer and internet would claim many jobs.
However, all three in fact turned out to have created job opportunities for the masses across the globe over the years.
So the fourth industrial revolution, popularly known as the process of automation, will rather create jobs for millions of people, the only need being getting to know the latest technologies and reskilling of workers.
For instance, if countries which are already industrialised or developed want to go for the mass production of goods such as apparel, they need a lot of robotics.
So opportunities will come for Bangladesh to produce millions of robots for industries of other countries. So workers will not lose their jobs, the experts argued.
"We should not fear the fourth industrial revolution. We need to take it as an opportunity," said Md Rashedur Rahman, an associate professor of the Department of Organisation Strategy Leadership at the University of Dhaka.
"We need to be resilient to adopt this," he said at a virtual discussion on the 4th industrial revolution in the wake of Covid-19 organised by the Dhaka Chamber of Commerce and Industry (DCCI).
Government high-ups, including a minister, manufacturers, experts, university teachers and businesspeople participated in the discussion.
The fourth industrial revolution will mainly bring opportunities for the country and the government will make 5G available in major cities in 2023, said Mustafa Jabbar, minister for posts, telecommunications and information technology.
However, Jabbar warned against adopting innovations without a thought, reasoning that what was useful for other countries but not be the case for Bangladesh.
He suggested adopting home grown solutions for industrial and manufacturing sectors, reasoning that Bangladesh has a lot of talented people and university graduates, many of whom have gone on to perform strong worldwide.
The fourth industrial revolution is not the future, it is already taking place as many manufacturing units are adopting advanced technologies to reduce business costs, said Mohammad Abdul Momen, a professor of the university's Institute of Business Administration.
Instances include the printing and sweater industries seeking to cut back on production and manpower costs, said Momen, also a director of the Bangladesh Garment Manufacturers and Exporters Association and Pride Group, a leading garment producer. There is no option but to adopt the technologies, he said.
The fourth industrial revolution bears immense potential for Bangladesh and fears that it will dry up skilled and semi-skilled workers' jobs are unfounded, said Parag, additional secretary to the industries ministry.
Garment workers might think that they will lose their jobs but the reality is that no technology has been able to take away jobs overnight, she said.
The garment workers will have to shift to using new, high-end technologies, she said.
Moderating the discussion, DCCI President Shams Mahmud said despite challenges of losses of low-skilled jobs in the short-term, launching fourth industrial revolution technologies would unlock a new era of growth and employment across all sectors of Bangladesh.
For seizing the opportunities, the government could form a high-level national committee engaging relevant agencies and experts from public and private sectors, he said.
Mahmud also recommended keeping the perspectives in consideration while formulating the national industrial policy.
Upon assessment, a robust national fourth industrial revolution technology policy needs to be framed to support application of big data, blockchain, artificial intelligence, robotics and the internet of things, he said.
This will add value to Bangladesh's industrial and economic competitiveness and connect to the digitally-enabled global value chain, he added.
Presenting a keynote paper, Associate Prof Sajid Amit of the University of Liberal Arts Bangladesh highlighted the transformation being brought about to the entire system of production, management and governance by the manufacturing industries.
According to The World Economic Forum, about 800 million people worldwide may lose jobs by 2030, he said.
Though the risk of job losses lies mainly for the low-skilled workforce for the fourth industrial revolution, reskilling and upskilling schemes need to be taken up to sustain them, he said.
A shift to electronics and automation will take place automatically and though it will pose some challenges, it will open doors to increased productivity and connectivity, innovation and sustainable production, said Amit.
The rise of the digital marketplace will connect small and medium enterprises to the huge regional markets beyond the local customer base, he said, recommending focusing on skills-based education systems and long term policy measures.
Fahim Ahmed, president and CFO of ridesharing platform Pathao, said over 6 million people in Bangladesh who use the internet have availed their services.
In the past 5 years, over $250 million have been invested in the technology sector of Bangladesh, he added.
"Access to connectivity and technology is more important. We must build up on soft skills and innovation," he said, citing resilience and preparedness as important factors for coping with challenges of the fourth industrial revolution.
SME Foundation is working to increase the skills and capacity of SME entrepreneurs during this time of Covid-19, said its general manager, Md Sirajul Haider.
The foundation conducts trainings to enhance capacity of entrepreneurs to create spaces for them in online marketplaces. "We are providing the training," he said.
Anowarul Fattah, a professor of the electrical and electronic engineering department of the Bangladesh University of Engineering and Technology, urged motivating entrepreneurs on adopting ways of the fourth industrial revolution.
He also called for working on inter-university, ministry and industry collaborations for building capacities.
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