ASSIGNMENT NUMBER: 1

SUBMITTED BY

Name :

ID:

Course: Bus 101

Section: 4

SUBMITTED TO

Senior Lecturer, Department of Business Administration,

Faculty of Business and Economics, East West University

Semester: Spring 2024

Date of Submission: 18, May, 2024

4 TH INDUSTRIAL REVOLUTION: CHALLENGES FOR BANGLADESH

The 4th industrial revolution is a new term which is also known as the industry 4.0.
This term refers to the transformation of many types of industries in many
aspects. These transformation are the cause of integration among the industries
and advanced technologies.

1. Artificial Intelligence: Machine systems can provide the task what is given
by human intelligence like, decision making, language , visual
representation.
2. Internet of things : Devices that connects to the internet that can collect
and exchange data, home appliances, wearable devices and industrial
sensors.
3. Block chain : It is a digital ledger that gathers information and transaction
histories and often associated with cryptocurrencies.
4. Virtual or Augmented Reality : Digital technologies that invents digital
experiences and overlays digital info for the real world
5. Robotics : Advanced Robotic technologies that can perform complicated
task easily and that can easily risk full work that a man can do hardly
6. 3D printing : Inventing third dimensional objects from technological
models, that allows for rapid prototypes and customized manufacturing.

In easy terms, the 4th Industrial Revolution is about how these advanced
technologies are changing the things, our livelihood, workspace, interacts with
each others. Industrial factories are becoming more and more smarter and
efficient, healthcare that is becoming more personalized and everyday objects are
becoming more interconnected. This evolution is building processes quicker, and
more logical and workable.
In terms of scenery in Bangladesh, there are various types of challenges ;

1. Technological Infrastructure
 Digital Divide: The division between urban and rural areas in term of
access to swift internet and innovative technological infrastructure is
perfect. Bridging the gap is the most essential to make sure
nationwide support from 4IR technologies.
 Electric and Power supply : Unbreakable power supply is the most
important for supporting industrial manufacturing and digital
services. Bangladesh is facing the biggest challenge to ensure
uninterrupted power supply.
2. Education and Skill Development
 Incompatible of Expertness: The on going educational framework is
poor to align with the ability required for 4IR. There is no necessary
for any broad reforms in curriculum to focus on critical thinking ,
education, digital education.
 Workforce Retraining : The changes to automate and digitalise
workforce set retraining of the ongoing workforce. Retraining plan
should be evolved to equip staffs with new expertness relevant to
appear industries.
3. Economic and Industrial Transitions
 Faith on Traditional Industries : The economy of Bangladesh do
strongly depends on traditional plots such as textiles and garments.
Shifting these industries to include 4IR technologies requires notable
investment and innovation.
  Job Replacement : AI machinery and automation is replacing a
significant amount job in sectors which have high employee rates.
Different strategies are required to handle this transition and create
new employment opportunities.
4. Regulatory and Policy Framework
 Regulatory Dares : Evolving a regulatory structure that assists
revolution while protecting data privacy and security is complicated.
Bangladesh need to upgrade this to encourage contributory
environment for 4IR technologies.
 Policy Execution : Successful execution of policies and lead
supporting technological progress is often harmed by corruption
bureaucratic disorganization.
5. Research and Development
 Low Investment : Investment in Research and Development is the
crucial point. Lack of investment hampers in research and
development. So, it is needed to encourage public and private
sectors to invest in research and development.
 Innovation environment : Creating a strong innovation environment
that supports flare up and incubators can drive the development of
4IR technologies.
6. Social and Cultural Facts
 Digital learning : Notable part of the population shortages the digital
literacy necessary to catch with 4IR technologies fruitfully. To
improve digital literacy all age groups should put effort in it
  Cultural Resistance : Resistance to the technology which have
changed due to established cultural and convention poses an
importer border to the assumption of 4IR technologies.
7. Environmental supportability:
 Supportable evolution : Blending 4IR technologies in a way that
encourages supportive evolution which is crucial for environmental
supportability. Bangladesh faces this challenge such as pollution,
resource exhaustion that required to be addressed alongside
technological advancement.

There are some strategic recommendation that can navigate the complexities of
the 4th Industrial Revolution, Bangladesh can adopt the following approaches ;

 Enhance education and training

 Invest in infrastructure
 Support Research and Development and innovation
 Strengthen Regulatory work
 Promote Public and Private Partnership

In this case, By directing all of the problems with well planned and well
synchronized attempts, Bangladesh can tack the transformative likely of the 4 th
Industrial Revolution to operate economic widening and make better of
communal well-being and make sure continual growth.

After all if we can manage the whole pros and cons we will be able to come to a
solution. So, Bangladesh can overcome the challenge.