Around 800 million people across the globe could lose their jobs by 2030, including 5.7 million unskilled Bangladeshi workers, due to the fourth industrial revolution (4IR), experts forewarned at a webinar on Thursday.
They also said reskilling and up-skilling should be prioritized to sustain jobs, as well as focusing on long-term policy, modernization of education and curriculum systems, infrastructure development and industry-academia collaboration.
The remarks were made at a webinar titled "4th Industrial Revolution in the Wake of Covid-19", organized by Dhaka Chamber of Commerce and Industry (DCCI.)
DCCI President Shams Mahmud moderated the webinar, where Minister for Posts, Telecommunications and Information Technology Mustafa Jabbar attended as chief guest.
Additional Secretary of Ministry of Industries Begum Parag also joined the webinar as special guest, while Sajid Amit, associate professor and director at the Center for Enterprise and Society (CES) at University of Liberal Arts Bangladesh (ULAB), presented the keynote paper.
Sajid in his presentation said that the manufacturing industry was transforming almost the entire system of production, management and governance.
According to the World Economic Forum, about 800 million people worldwide may lose jobs by 2030, which also included 5.7 million unskilled Bangladeshis working in both the country and elsewhere, he forewarned.
"As there may be a risk of job loss for low skilled workforce due to the 4IR, we need to take up reskilling and up-skilling initiatives to sustain jobs," he added.
Electronic shift and automation will take place automatically. Despite the challenges, it also creates opportunities of increased productivity, innovation, increased connectivity and sustainable production, Sajid remarked.
Sajid Amit further informed that the rise of digital marketplace would connect small and medium enterprises (SMEs) to the huge regional markets beyond the local customer base.
DCCI President Shams Mahmud said Bangladesh still lagged behind in adopting 4IR technologies in the industrial ecosystem and this adoption would be needed immediately to accelerate the country's growth momentum.
To seize the opportunities of 4IR, the government may form a high-level national committee to engage relevant agencies and experts from public and private sectors, he added.
He recommended keeping a 4IR-based perspective in the upcoming National Industrial Policy.
He also suggested initiating 5G technology to underpin low-cost big data and diverse internet of things (IoT) services.
Begum Parag said the SMEs of Bangladesh are using technology now and they are producing various diversified products, but 4IR will open up new avenues especially in the recycling industries.
Minister Mustafa Jabbar said that the telecommunication sector was the ocean for 4IR.
"We should not fear 4IR as our adaptability level is too high," he remarked.
He also informed that by 2023, 5G will be available mainly in all the major cities of the country, while the education system and curriculum should be adjusted to cope with the advancement caused by 4IR, he added.
Md Rashedur Rahman, associate professor at the Department of Organization Strategy Leadership, University of Dhaka, urged for a long-term policy to streamline with the revolution.
Fahim Ahmed, CFO of Pathao Limited, Md Sirajul Haider, general manager of SME Foundation, Anowarul Fattah, professor of EEE at Buet, Mohammad Abdul Momen, director of BGMEA, Zaki Uz Zaman, country representative of Unido, Asif Ibrahim, chairman of Chittagong Stock Exchange, and DCCI Senior Vice President NKA Mobin also spoke on the occasion.
