IMPACT OF ARTIFICIAL INTELLIGENCE AND DIGITAL ECONOMY ON INDUSTRIAL REVOLUTION 4: EVIDENCE FROM BANGLADESH
Keywords:
Artificial Intelligence, Digital Economy, Industry Revolution 4, Bangladesh, Labor Market, Policy.
Abstract
This research investigates effects of artificial intelligence and digital economy on the 4th industry revolution from the perspective of Bangladesh. Artificial intelligence affecting the labor market both positively and negatively. Because of artificial intelligence, few existing jobs have been demolished and few new jobs have been emerged as well. Digital economy in Bangladesh is now an emerging issues with the blessings of artificial intelligence. Few employment opportunities will be created in Bangladesh because of emerging digital economy. The objective of this research is to analyze these opportunities and come out with few policy recommendations to implement towards industry revolution 4. Secondary data have been used along with recent relevant literatures to achieve the above stated objective as this is an empirical research. Ideas regarding revised national plan, financial tools, emerging digital economy in Bangladesh are the prominent outcome of this research. The policy recommendations of managing the gap between digital economy and industry revolution 4 regarding artificial intelligence could be helpful to The Government of the Peoples’ Republic of Bangladesh to implement policies.
JEL Classification Codes: L0, D74.
References
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Statista.com. (2020, October 24). Leading countries based on Facebook audience size as of October 2020. Retrieved from https://www.statista.com/statistics/268136/top_15-countries-based-on-number-of-facebook-users/
Walcott, S. M. (2017). Chinese Science and Technology Industrial Parks. Routledge. https://doi.org/10.4324/9781315198170
World Economic Forum. (2020). Bend, don’t break: how to thrive in the Fourth Industrial Revolution. Retrieved from https://www.weforuhttps//www.weforum.org/agenda/2020/01/the-fourth-industrial-revolution-is-changing
Zhong, R. Y., Xu, X., Klotz, E., & Newman, S. T. (2017). Intelligent manufacturing in the context of industry 4.0: a review. Engineering, 3(5), 616-630. Retrieved from https://www.sciencedirect.com/science/article/pii/
Zhaltyrbayeva, R., Shalkharov, Y. S., Bitemirov, K. T., Ismailova, B. S., Kurmanova, A. K., Berdibaev, Y. M. & Zayed, N. M. (2021). THE LEGAL STATUS OF THE DESIGNATION OF ARTIFICIAL INTELLIGENCE IN A SYSTEM OF MODERN LAW. Journal of Legal, Ethical and Regulatory Issues, 24(4), 1-8.
Arntz, M., Gregory, T., & Zierahn, U. (2016). The risk of automation for jobs in OECD countries. Retrieved from https://www.oecd-ilibrary.org/social-issues-migration-health/the-risk-of-automation-for-jobs-in-OECD-countries_5jlz9h56dvq7-en
Bahrin, M.A.K., Othman, M.F., Azli, N.N., & Talib, M.F. (2016). Industry 4.0: A review on industrial automation and robotics. Jurnal Teknologi, 78(6-13), 137-143. Retrieved from https://www.researchgate.net/publication/304614356_Industry_40_A_review_on_industrial_automation_and_robotic
Berawi, M.A. (2018). Utilizing big data in industry 4.0: Managing competitive advantages and business ethics. International Journal of Technology, 3(1), 430-433. Retrieved from https://www.researchgate.net/publication/324831345_Utilizing_Big_Data_in_Industry_4 0_Managing_Competitive_Advantages_and_Business_Ethics
BoostDot. (2020). Current trends of digital marketing in Bangladesh. Retrieved from https://boostdot.net/digital-marketing-in-bangladesh/
Deloitte. (2018). The rise of the platform economy. Amsterdam: Deloitte. Retrieved from https://www2.deloitte.com/content/dam/Deloitte/nl/Documents/humancapital/deloitte-nlhc-reshaping-work-conference.pdf
Ezenwa, O., Stella, A., & Agu, A.O. (2018). Effect of competitive intelligence on competitive advantage in inn son technical and industry limited, Enugu State, Nigeria. International Journal of Business, Economics & Management, 1(1), 28-39. Retrieved from https://doi.org/10.31295/ijbem.v1n1.25
Fintech BD. (2019, May 22). Digital Economy for a Digital Bangladesh. Retrieved from http://www.fintechbd.com/digital-economy-for-a-digital-bangladesh/
Frey, C. B., & Osborne, M. A. (2017). The future of employment: How susceptible are jobs to computerization? Technological forecasting and social change, 114, 254-280. Retrieved from https://www.sciencedirect.com/science/article/abs/pii/S0040162516302244
Ghobakhloo, M., & Fathi, M. (2019). Corporate survival in Industry 4.0 era: the enabling role of learning digitized manufacturing. Journal of Manufacturing Technology Management. Retrieved from https://www.researchgate.net/publication/338204494_Industry_40_ Digitization_and_Opportunities_for_Sustainability
Gilchrist, A. (2016). Introducing Industry 4.0. Apress, Berkeley, CA. Retrieved from https://link.springer.com/chapter/10.1007/978-1-4842-2047-4_13
Hughes, T. P. (2004). A Century of Invention and Technological Enthusiasm. Retrieved from https://www.amazon.com/Thomas-Hughes-Invention-Technological-Enthusiasm/DP/B008VQVM66
Iyer, V. G. (2018). Strategic Environmental Assessment (SEA) Process for Sustainable Industrial Automation, Electrical, Mechanical, and Robotics Systems Sustainability Excellence Achievements. DEStech Transactions on Engineering and Technology Research.
Kim, N. (2018). Prospects of Least Developed Countries meeting the graduation criteria by 2030. UN CDP Policy Review, (8). Retrieved from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3299977
Macpherson, C. B. (1962). The Unfinished Revolution: An Essay on the Sources of Influence of Marxism and Communism. Retrieved from https://www.jstor.org/stable/2146334?seq=1#metadata_info_tab_contents
Oxera. (2015). Benefits of Online Platforms. Oxford: Oxera. Retrieved from https://www.oxera.com/wp-content/uploads/2018/07/The-benefits-of-online- platformsmain-findings_October-2015.pdf.pdf
Park, S. C. (2018). The Fourth Industrial Revolution and implications for innovative cluster policies. AI & SOCIETY, 33(3), 433-445. Retrieved from https://link.springer.com/article/10.1007/s00146-017-0777-5
Philbeck, T., & Davis, N. (2018). The Fourth Industrial Revolution. Journal of International Affairs, 72(1), 17-22. Retrieved from https://www.jstor.org/stable/26588335?seq=1#metadata_info_tab_contents
Rashid, M.H. (2020). Prospects of digital financial services in Bangladesh in the context of the fourth industrial revolution, Asian Journal of Social Science, 2(5), 88-95. Retrieved from https://doi.org/10.34104/ajssls.020.088095
Schwab, K. (2017). The fourth industrial revolution. Currency. Retrieved from https://www.penguinrandomhouse.com/books/551710/the-fourth-industrial-revolution-by-klaus-Schwab/
Smil, V. (2005). Creating the twentieth century: Technical innovations of 1867-1914 and their lasting impact. Oxford University Press. Retrieved from https://www.jstor.org/stable/40061298?seq=1#metadata_info_tab_contents
Statista.com. (2020, October 24). Leading countries based on Facebook audience size as of October 2020. Retrieved from https://www.statista.com/statistics/268136/top_15-countries-based-on-number-of-facebook-users/
Walcott, S. M. (2017). Chinese Science and Technology Industrial Parks. Routledge. https://doi.org/10.4324/9781315198170
World Economic Forum. (2020). Bend, don’t break: how to thrive in the Fourth Industrial Revolution. Retrieved from https://www.weforuhttps//www.weforum.org/agenda/2020/01/the-fourth-industrial-revolution-is-changing
Zhong, R. Y., Xu, X., Klotz, E., & Newman, S. T. (2017). Intelligent manufacturing in the context of industry 4.0: a review. Engineering, 3(5), 616-630. Retrieved from https://www.sciencedirect.com/science/article/pii/
Zhaltyrbayeva, R., Shalkharov, Y. S., Bitemirov, K. T., Ismailova, B. S., Kurmanova, A. K., Berdibaev, Y. M. & Zayed, N. M. (2021). THE LEGAL STATUS OF THE DESIGNATION OF ARTIFICIAL INTELLIGENCE IN A SYSTEM OF MODERN LAW. Journal of Legal, Ethical and Regulatory Issues, 24(4), 1-8.
Published
2021-12-13
How to Cite
Iqbal, M. M., Islam, K. M. A., Zayed, N. M., Beg, T. H., & Shahi, S. K. (2021). IMPACT OF ARTIFICIAL INTELLIGENCE AND DIGITAL ECONOMY ON INDUSTRIAL REVOLUTION 4: EVIDENCE FROM BANGLADESH. American Finance & Banking Review, 6(1), 42-55. https://doi.org/10.46281/amfbr.v6i1.1489
Section
Research Paper/Theoretical Paper/Review Paper/Short Communication Paper
Copyright (c) 2021 Mohammed Masum Iqbal, K. M. Anwarul Islam, Nurul Mohammad Zayed, Tahrima Haque Beg, Shahiduzzaman Khan Shahi
This work is licensed under a Creative Commons Attribution 4.0 International License.
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