Bangladesh needs to develop a data-driven national innovation system to ensure efficient use of data, which will determine the country's competitiveness globally in the era of 4th industrial revolution, experts said.
The digital system will not only help establish linkage between academia and industry but will also ensure data governance with maintaining a balance between indigenous innovations and technology imports, they added.
Considering importance and outcomes of the move, they suggested establishing a special unit under the Prime Minister's Office (PMO) to cope with those developments.
Alongside raising internet speed and energy capacities to support the rapid transition, they also stressed the need for reviving the country's outdated education system keeping requirements of 4IR in mind.
At the same time, businesses and data experts think fear of job loss with embracing latest technology from the mindset requires to be changed as it will also create a lot of employment opportunities in return.
The observations and suggestions came at a webinar on 'Post-Covid-19: Challenges and opportunities for entrepreneurship and employment in the context of current status of skills development and readiness for 4IR'.
France-Bangladesh Chamber of Commerce and Industry (CCIFB) organised the webinar on Saturday evening.
CCIFB president Syed Mahmudul Huq chaired the discussion where planning minister MA Mannan was the chief guest.
Speaking at the virtual discussion, Chief of Development Research Branch of the United Nations Dr Hamid Rashid said the country now needs to introduce a date-driven national innovation system to get available benefits of 4IR.
"It is a system and process that is critical to move forward."
The system will work to ensure free flow of information among partners, reduce barriers to access to information and create a data governance structure, he added.
Dr Hamid said the era of labour-intensive mass production, which has been an advantage for Bangladesh for long, is coming to an end soon because of growing change in the mindset of consumers and buyers.
Low-cost production will not be enough to compete in the global market, he observed.
"Data will be a critical input in every decision process. Cost of data will determine a country's comparative advantage in international trade and its economic development. So, we need to keep that in mind."
Professor Dr Mehdi Anwar, department of electrical and computer engineering at the University of Connecticut (USA), said there are three challenges--energy, communication and workforce readiness which need to be addressed.
Giving an example of internet speed, he said Bangladesh's broadband and mobile speed is 22.13 mbps and 10.23mbps respectively while the speed in Vietnam is 38.63 mbps and 24.6 mbps.
"So, we need to make the internet much faster to get benefits from 4IR. We also need enable power system to support advanced technology."
He also suggested establishing an appropriate government entity to coordinate multi-agency efforts to promote science, technology and innovation (STI).
"Create the Prime Minister's Office of Science and Technology (PMOST) and a position of STI adviser for directly reporting to the PM," he added.
BGMEA president Dr Rubana Huq said only 8.0 per cent of the tasks in the readymade garment sector has so far been automated and planned to take the percentage to 25 per cent by 2025.
"But how do we transform our production chain because of low literacy among our workers and it cannot be improved overnight."
She suggested increasing the level of literacy with bringing coding or mathematics as compulsory subject in the primary education to get benefits in the future.
About fear of job loss, the BGMEA president said some 75 million people are supposed to be losing jobs while 133 million people are supposed to be gaining.
"There is always a danger and there are always opportunities," she added.
Chairman of Business Initiative Leading Development (BUILD) Abul Kashem Khan said there are challenges like lack of skilled workforce, incentives, governance and research that need to be overcome with proper plan of actions.
The existing outdated education system should be revived in accordance with the demand of the 4IR and the teachers need to be well trained for better outcomes, he added.
Chief information officer of Robi Axiata Ltd Dr Asif Naimur Rashid suggested prioritising most potential investment areas instead of going all features of 4IR.
"We probably need a plan that will not be activity-oriented but also outcome-oriented."
Planning Minister MA Mannan said the government has been chalking out various plans to stay competitive economically in the global market even in the era of 4IR.
For bringing more outcomes of the plans, the minister called upon people, even those living outside, having enough knowledge of technology to come forward in hands.
Executive chairman of Bangladesh Investment Development Authority (BIDA) Md Sirazul Islam, BUET vice chancellor professor Satya Prasad Majumder and Ambassador Riaz Hamidullah also spoke at the webinar.
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