‘Fourth Industrial Revolution’ will impact jobs, says Foreign Minister Momen

Foreign Minister AK Abdul Momen has stressed the need for skills development programmes to prepare the Bangladeshi workforce for the impending ‘Fourth Industrial Revolution’, or 4IR.

The first wave of the technology-driven 4IR will affect jobs in the country, the minister said.

Speaking at a seminar titled ‘Global Context: Working Towards a Better and Higher Skilled Human Capital in the Developing Countries’ on Saturday, Momen said: “At this moment in time, we are witnessing unprecedented technological and technology-driven human advancements.”

“The rate, scale, and scope of this advancement - also known as the Fourth Industrial Revolution - are yet to be fully analysed and understood. But, one thing is for sure - the first wave of impact will be on our jobs.”

The education ministry’s Technical and Madrasa Education division organised the event which featured over 400 national and international experts.

Many existing jobs are already on the decline and will completely disappear due to the emergence of automation, artificial intelligence and e-business, warned Momen.

“New jobs – completely new ones – such as medical roboticists, simulation engineers, or future forecasters will surface.”

“Moreover, existing jobs that will survive in the future, such as ones involving health professionals, managers, analysts etc, will demand a new set of skills.”

“Thus, there is a possibility that in some cases, a physical labour-based developing country may suffer if its educated youth is not properly trained and skilled to become employable,” he said.

The World Economic Forum, in its 2018 flagship report titled, “Future of Jobs”, also warned about the implications of technology on employment, added Momen.

“If their report is credible, then 75 million jobs will be displaced by artificial intelligence (AI), robotics, and automation,” Momen said.

“But at the same time, the report also estimates that a possible 133 million new jobs will be created. That indicates a net gain of almost 60 million jobs globally with the advent of 4IR.”

The foreign minister also highlighted the Bangladesh government’s schemes to meet the challenges of creating jobs for the youth.

These include the 2011 ‘National Skill Policy’, the 2017 ‘National Youth Policy’, the ‘7th Five Year Plan’, and the strategies, policies and plans to attain the UN Sustainable Development Goals, or SDG.

“These are all geared towards bridging the gap of our existing and future workforce by attaining excellence through skill-based education and training,” he said, adding that Bangladesh has two “great resources” - manpower and water.

“However, unless we manage them effectively and correctly, these could become a cause for concern.”