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21 September, 2021 04:26:11 PM
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Conference on Fourth Industrial Revolution held

Staff Reporter, Dhaka
Conference on Fourth Industrial Revolution held

A two-day long conference titled The Fourth Industrial Revolution (4IR): Reshaping Business for Sustainable Development in Bangladesh was held on Friday last virtually. The Bureau of Business Research (BBR), Faculty of Business Administration (FBA), University of Chittagong (CU), organised the event. The conference was divided into three sessions, according to a press release. 

The sessions were inaugural session, business session and valedictory session. In the inaugural session Prof Dr Shireen Akhter, Vice-chancellor, CU, was present as the chief guest. Prof Dr Md Abu Taher, member of University Grants Commission (UGC) of Bangladesh, attended as the guest of honour. Prof Benu Kumar Dey, Pro-vice-chancellor CU, Prof SM Salamatullah Bhuiyan, dean, Faculty of Business Administration, and Prof Dr Sultan Ahmed, ex-chairman of Department of Banking and Insurance attended the conference as special guests.  Mahtab Uddin Ahmed, MD & CEO of Robi Axiata Limited, attended the conference as the keynote speaker. Prof Dr Mohammad Ayub Islam, convener of conference committee, delivered welcome speech. The conference was anchored by Prof Dr Md Salim Uddin, FCA, FCMA, the chairman of BBR and also the chairman of Bangladesh House Building Finance Corporation (BHBFC). The programme was moderated by Prof Dr S M Sohrab Uddin, director, BBR. The chairman and faculty of different public and private universities participated in this conference. The conference was sponsored by the CU Centre for Business Administration and Heidelberg Cement Bangladesh Ltd.  

In the welcome speech, Prof Dr Mohammad Ayub Islam, thanked all for attending the conference. He shortly discussed the background of industrial revolutions and said that the conference on the fourth industrial revolution (4IR) would help us to know the impact of 4IR on the business and job market.

This conference would facilitate us to the required changes in the academic curriculum to cope up with the ongoing changes in the different industries due to 4IR, he added.

Mahtab Uddin Ahmed presented on the digital age –How to reshape business for sustainable development. He said, “The digital era is characterized by technology, which increases the speed and breadth of knowledge turnover within the economy and society”.

In this regard, he discussed how digital technology works in the context of entertainment, transportation, communication, etc. and argued that the future depends on how we use this blessing. He also added that the fourth industrial revolution is able to reduce the social inequality and disruption cycle. He also focused on transformation, top global perceived risks, and how single innovation changes the industry landscape. 

Prof Dr Sultan Ahmed focused on sustainable development and said how sustainable development can be ensured through social, economic and environmental development. He introduced the future prospects of Bangladesh by highlighting the backward and forward linkages. Prof S M. Salamatullah Bhuiyan said, “The fourth industrial revolution is characterised by the diffusion of technology and evolving at an exponential rather than linear phase.

Although the fourth industrial revolution is disrupting almost every industry, however, it has the potentiality to enhance the quality of life through different applications, reduction of transportation and communication costs, the effectiveness of logistics and supply chain, and diminishing the cost of trade”. 

Prof Benu Kumar Dey, mentioned this conference as a very timely one. He said, recently all the electronics have been produced by silicon chips, and very soon, these will be replaced by nano-particles. He added that the concept of the 5th industrial revolution may appear soon and will be driven by DNA materials.

He also said that such conference will be helpful to exchange knowledge and how to prepare and adopt the radical changes. Prof Dr Md Abu Taher said, technological changes are inevitable and it has an impact on human capital transformation. 

The CU-VC said that, this conference on the fourth industrial revolution is a timely and demanding topic that will be helpful for the successful transformation of the local and national business organisations.

She also added that although the fourth industrial revolution will replace few jobs and routine tasks, however, it will create new job opportunities. Keeping this in mind, Bangladesh government also implementing digital Bangladesh and focusing on ICT based entrepreneurship, training and vocational education, launching 5G, and updating industrial policies.

She hoped that arranging such a conference would provide useful insights into the successful adoption of the fourth industrial revolution. Finally, Dr Md Salim Uddin, as the chairman of BBR & BHBFC, concluded the inaugural session of the conference by thanking all the guests and participants.

On September 18, faculties and students of different public and private universities of Bangladesh presented 47 research papers in the 10 business sessions. The business session covered Sustainable Development Goal and 4IR, Financial Technology, Digitalization in Business, Behavioral Management in 4IR, Inclusive Growth, Role of Social Media, Corporate Social Responsibility, Impact of COVID-19, Accounting & Finance, and Management & Marketing. In every session, the session chairs, participants and discussants exchanged their knowledges and shared their views and opinions. The conference concluded by a valedictory session, where Prof Dr S M Sohrab Uddin, presented the conference report and Prof Dr Md Salim Uddin, gave a concluding speech on the conference.

KK

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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