Fourth Industrial Revolution May Displace 5.4 Million Bangladeshi Workers
Bangladesh may face significant employment shifts due to the Fourth Industrial Revolution (4IR), with an estimated 5.4 million jobs at risk. However, alongside these challenges, new economic opportunities are anticipated, according to experts at a seminar titled "Fourth Industrial Revolution: Opportunities and Challenges for SMEs in Bangladesh," organized by the SME Foundation and the German development organization Friedrich-Ebert-Stiftung (FES) at Agargaon, Dhaka.
Citing research by Access to Innovation (a2i) under the ICT Division and the International Labour Organization (ILO), experts noted the need for new policy frameworks to mitigate potential risks and harness the benefits of 4IR. In the keynote address, Professor Dr. Kazi Muhaimin-us-Saqib of the University of Dhaka’s IT Institute presented findings that estimate job losses in various sectors: 2.7 million in the ready-made garments industry, 1.4 million in furniture, 1.2 million in agriculture and tourism, and 100,000 in leather, totaling a projected 5.4 million displaced workers.
Representatives from key sectors, including the ICT Division Secretary Shish Haider Chowdhury, SME Foundation Managing Director Anwar Hossain Chowdhury, and FES Bangladesh Resident Representative Dr. Felix Gardes, highlighted the necessity of enhancing skills and infrastructure to ensure the resilience of the SME sector in adapting to 4IR.
Despite SMEs’ significant role in economic growth and job creation, their adoption of ICT remains limited. A comprehensive national strategy could empower SMEs with new business models, increase exports, and create jobs, say experts. Attendees included government officials, SME representatives, financial institutions, researchers, and economists.
The SME Foundation, established in 2007 under the Ministry of Industries, implements programs aligned with Bangladesh’s National Industrial Policy 2022, the UN SDGs, and the government’s five-year plans, benefiting approximately two million SME entrepreneurs across the country.
