Knowledge sharing among commonwealth countries stressed to tackle 4IR challenges: FBCCI

Mahbubul Alam, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) today laid emphasized the importance of knowledge, technology, and skills sharing among commonwealth nations to effectively address the challenges posed by the Fourth Industrial Revolution (4IR).

He made these comments during a roundtable discussion on 'Tech and Innovation: Enabling Trade' held at the Glaziers Hall in London, UK, on the second day of the Commonwealth trade and investment summit, said a press release.

FBCCI president attended the discussion as a panelist. Mahbubul Alam highlighted Bangladesh's vision to transform into a Smart Country by 2041 under the leadership of Prime Minister Sheikh Hasina.

The successful realization of the Digital Bangladesh goal has laid the foundation, with the integration of technology and artificial intelligence being the linchpin for future progress, he added.

Emphasizing the need for ethical and responsible technology use, Mahbubul outlined steps Commonwealth countries can take, including encouraging innovation through investment, protecting innovators' rights, and enacting comprehensive regulatory frameworks.

Discussing the rapid advancements in Artificial Intelligence (AI), the FBCCI President called for Commonwealth collaboration to ensure knowledge transfer and the equitable use of Generative AI, suggesting the establishment of a common digital trade information platform to foster collaboration among the member countries.

Mahbubul emphasized the need for collaborative efforts between governments and businesses to facilitate infrastructure development, encouraging private investment and public-private partnerships.

He urged the Commonwealth to share best practices and provide a platform for such as, 'Commonwealth Connectivity Agenda for Trade and Investment'.

The FBCCI President also emphasized the importance of collaboration between the Commonwealth nations in policymaking, knowledge sharing, and financial support to ensure widespread access to technology, protection of rights, and the realization of a connected and prosperous future for all Commonwealth nations.

Vice President of FBCCI Shomi Kaiser, FBCCI Directors, and Business leaders from the Commonwealth countries were present at the program.