Bangladesh's economy is undergoing rapid transformation, but the labor market is not evolving at the same pace. Artificial intelligence (AI) is changing the nature of work and the employment landscape, with potential implications for the country's young generation. Experts believe narrowing this gap requires creating quality employment, expanding job opportunities, and developing a skilled workforce capable of adapting to technological shifts.

Experts Speak at Book Launch Event

The remarks came at a book launch ceremony held on Tuesday at Brac University. The event was organized by the university's Department of Economics and Social Sciences. The book, "The Labor Market in Bangladesh: Emerging Challenges, Future of Work and Policy Direction," authored by Professor Farzana Munshi of the department, was unveiled at the event. The book has been published by Routledge.

Longstanding Labor Market Issues

The book highlights several longstanding problems in Bangladesh's labor market, including the vast number of workers engaged in the informal sector. Additionally, unemployment among educated youth remains alarmingly high. According to the International Monetary Fund (IMF), 36 out of every 100 highly educated young people in the country are unemployed.

AI's Impact and Future Challenges

Experts note that the rise of AI has created fears of job losses, with Bangladeshi youth among those at risk. They stress the need to assess how deeply AI will affect the workplace and what future challenges may emerge. Without a workforce equipped to adapt to technological change, Bangladesh's position in the global labor market could weaken, they warned.

The Way Forward

Experts recommend prioritizing technology-driven skill development within the education and training systems. Simultaneously, creating quality employment opportunities for young people is essential. They have called for effective policy-level measures to address these pressing issues.