With 4IR knocking on the door, is Bangladesh ready?

The early advent of the 4th Industrial Revolution (4IR), caused by Covid-19, has posed a threat to our productivity, employment, and the overall socio-economic condition, leading to a paradigm shift in work habits last year.  The lockdowns forced us to work from home, which later turned into the norm even after workplaces started opening. The gig economy gained popularity and people started doing multiple part-time jobs remotely. Work hours also became flexible, and employers began to focus  on result-oriented jobs rather than routine-based ones.  And technology enabled us to complete more tasks, resulting in far greater yields.  The digital lifestyle changed our way of life — digital commerce, over-the- top (OTT) streaming services and mobile financial services (MFS) made our lives dependent on technology, and slid further into 4IR territory. As 4IR becomes more integral to our lives, there are many challenges ahead for Bangladesh, where infrastructural and skilled HR support is inadequate. Unfortunately, the arduousness of these challenges has yet to be realized by not only most policymakers, but also by most leaders in the business community.  Then there is the RMG industry, which being the largest industry of the country also faces the biggest challenge.  In the last four decades, this entire industry grew capitalizing on the fact that the country can offer cheap labour. Hence the clothing merchants and retailers around the world sent their clothes to Bangladeshi RMG factories to be cut and sown and folded and packed, and then shipped back to their stores. 

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