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Moving into the future

  • Published at 11:03 pm December 21st, 2018
Photo: BIGSTOCK
Photo: BIGSTOCK

It is up to the government to smoothly integrate new technologies into our way of doing things

If Bangladesh is unable to capitalize on the technological innovations of the future, it could get left behind in the world of global business. 

Technology has already had immense socio-economic impacts on our society, but the fourth industrial revolution, which will see technology make its way to every single sector of business, has the potential to completely revolutionize the way economies function. 

From raising global income to improving the quality of life, introducing new products and services, creating more efficient means of communication and transport, technology will become the essential driving force of all economic activity. 

As such, the time is ripe for Bangladesh to set forces in motion to take advantage of inevitable changes that will occur, ensuring that we as a nation are prepared to adapt to these new methods of production.

If not, the consequences will be severe -- new technology means new jobs, which means that our people have to be trained, and their skills nurtured in order to ensure their place in the new economy. 

This also means that old jobs and old technology will become obsolete, and with it, some skills could become redundant. 

Experts claim that more than 5.7 million Bangladeshis could become unemployed by 2041 -- so we have to plan for the future smartly. 

Moving forward, it is up to the government to smoothly integrate new technologies into our way of doing things by investing in training centres which provide people with the right skills. 

If we do not evolve with the times, we could very well pay a steep price.