Experts Emphasise Combined Power of Human Insight and AI to Transform Bangladesh’s Financial Sector

Industry leaders and financial experts have stressed the need for integrating human knowledge with the analytical power of artificial intelligence (AI) to ensure transparency, speed, and accuracy in Bangladesh’s financial sector. According to them, “AI will make the financial industry more competitive.”

They shared this view at a daylong seminar titled “The Future of Professional Excellence and Artificial Intelligence,” held on 8 December at the BIAM Auditorium in Eskaton. The event was organised by the Bangladesh Institute for Professional Development (BIPD) and attended by hundreds of academics, technologists, and top executives from various financial institutions.

Across its three sessions, speakers highlighted AI-driven risk assessment, data-driven decision-making, and the technological prospects of Bangladesh’s financial market. They also outlined new directions for AI-enabled transformation in the sector.

Experts at the seminar agreed that for Bangladesh’s financial sector to remain sustainable and competitive, it must immediately adopt AI-integrated strategic planning. They emphasised enhancing human resource skills, investing in research, strengthening data-technology infrastructure, and ensuring transparency through technology—factors they described as the driving forces of tomorrow’s financial systems.

The seminar was presided over by BIPD Chairman and North South University Professor Dr. Mohammad Shahadat Hossain. Bangladesh Insurance Association President and Global Insurance PLC Chairman Saeed Ahmed attended as the chief guest. BIPD Director General Kazi Md. Mortuza Ali delivered the welcome speech, while BRAC University Professor and BIPD Academic Council Chairman Dr. Mohammad Kaykobad presented the closing remarks.

Throughout the event, experts presented papers and senior executives from banks, insurance companies, and financial institutions joined the discussions.

In his speech, Dr. Shahadat Hossain said that with the rapid financial transformation driven by AI, Bangladesh’s professionals must be prepared for the changes ahead. “AI is no longer a concept of the future; it has already entered the operational reality of the financial sector. Strengthening human capacity is essential to use it effectively,” he added.

Chief guest Saeed Ahmed highlighted that combining human intelligence with AI’s analytical strength is essential to ensure transparency, accuracy, and speed in financial services. He said that making insurance claim settlements technology-driven would significantly improve service quality and strengthen customer trust.

BIPD Director General Kazi Md. Mortuza Ali noted that professional excellence today means the ability to adapt to technology. “AI is not a replacement for humans; it amplifies the capabilities of skilled professionals,” he said, warning that without proper research and practical expertise, the sector may struggle to stay competitive.

Dr. Md. Shahidul Islam Zahid, Chairman of the Department of Banking & Insurance at the University of Dhaka, discussed the potential and challenges of Bangladesh’s insurance sector. He pointed out that a large rural population still lacks access to quality financial services. Technology-driven insurance could change the security landscape for these communities, he added. He also stressed that the sector remains technologically behind global standards and must prioritise research, innovation, and AI-based risk analysis to compete internationally.

Discussions at the seminar also highlighted the importance of cybersecurity, fraud prevention, and strengthening digital banking frameworks amid the rapidly evolving financial landscape. Speakers noted that ensuring security in technology-driven financial services will be one of the biggest challenges of the future, and AI-powered defence systems are essential. They also stressed AI’s importance in data-driven decision-making and advanced risk assessment in the financial markets.

Participants expressed that AI-driven transformation will not only increase efficiency but also help elevate Bangladesh’s financial sector to global standards. With proper planning, training, and technological integration, a higher level of advancement is achievable.

Notable speakers included former Chairman of Jiban Bima and Sadharan Bima Corporation and former Bangladesh Bank Deputy Governor Dr. Mohammad Sohorab Uddin; advisor of Bangladesh General Insurance Company A.K. Azizul Haque Chowdhury; Director General of Bangladesh Institute of Bank Management S. M. Abdul Hakim; and Dr. Md. Shahidul Islam Zahid of Dhaka University, among others.

In the first session, papers were presented by Dr. Md. Anowar Hossain Bhuiya (National University), Md. Abdul Kadir (Reliance Insurance), Sharmin Tajria Anannya (Agrani Bank), and Altaf Uddin (Chief Information Security Officer, Kansas Secretary of State, USA).

The second session, moderated by Sonali Bank PLC’s CITO Md. Rezwan Al Bakhtiar, featured presentations from Dr. Zahiduzzaman Zahid (Sonali Bank), Khandaker Shahid Haider (Agrani Bank), Abu Said Md. Ashrafuzzaman (former CDO, NRB Bank), and Faisal Ahmed (Bengal Commercial Bank). Discussions focused on fraud detection, cybersecurity, and secure digital banking.

The third session, moderated by MD & CEO of Pragati Life Insurance Md. Jalalul Azim, included papers by microinsurance specialist and former CEO of Chartered Life Insurance S. M. Ziaul Haque, Bengal Commercial Bank AVP Md. Saiful Alam Talukder, and Md. Imdadul Islam, Head of Training & Solution at Netcom Learning. The session addressed AI-based risk assessment, data-driven decisions, and the technological prospects of Bangladesh’s financial market.

DBTech/KK/EK/OR