With the fast development of frontier technologies, existing inequalities between the rich and the poor will further widens in the near future. Frontier technologies such as artificial intelligence (AI), robotics, blockchain, big data, biotechnology, and nanotechnology will define global economic development, political and military controls. The Technology and Innovation Report 2021 however showed a grim picture of the least developed countries, including Bangladesh in cutting-edge technologies with a very low score and rank.
The United Nations Conference on Trade and Development (Unctad) on Thursday published the report, where Bangladesh secured the 112th position. Unctad measured five building blocks – ICT deployment, skills, research and development activity, industry activity, and access to finance. Out of the five blocks, Bangladesh only performed well in research and development activities, standing 58th. The country’s positions in other blocks are 133rd in ICT development, 130th in skills, 121st in industry activity, and 80th in access to finance. In the South Asian region, India ranked 43rd, followed by Sri Lanka at 86th and Nepal at 109th. Pakistan ranked 123rd.
Frontier technology is advancing every day. In 2018, frontier technologies represented a $350 billion market, which by 2025 could grow to over $3.2 trillion. The least developed countries are unprepared to equitably use, adopt and adapt to the ongoing technological revolution. The report expressed concerns that frontier technologies will further widen inequalities or create new ones, either by limiting access to more privileged groups and affluent countries or through built-in biases or unintended consequences.
To catch up and forge ahead, Unctad urged developing countries to adopt frontier technologies while continuing the diversification of their production bases by mastering the existing technologies. Bangladesh needs high investment to develop knowledge and digital infrastructure, innovation and university-industry collaboration and supportive policies. Bangladesh needs close cooperation among the industry, government and universities to stay tuned to the global advancement and be visible in the global arena.
