Innovation in the Agricultural Sector

Innovation in the Agricultural Sector

by with No Comment publications

Innovation in the Agricultural Sector:

The agricultural sector is one of the most crucial economic aspects of Bangladesh. Suffering from poverty and starvation to becoming a “medium hunger” country, the rise of the nation’s agro sector is commendable.

However, even after showing remarkable progress in the agricultural sector, the country still needs an “agricultural revolution” to achieve a zero-hunger rate in the near future.

Although implementing various digital solutions in the agro farms has been one of the biggest visions of the government, there is still a need for a sustainable model to revolutionize the country’s agriculture efficiently. And in such case, Bangladesh can gain some valuable insights from the “Dutch Agricultural Revolution.”

As a global leader in agricultural innovation and exports, the Netherlands implemented advanced water management, sustainable farming practices, and technological advancements to transform their agro sector effectively. Bangladesh can adopt these techniques and technologies to expedite its progress and achieve their goals more efficiently.

 

Innovation in Bangladesh agricultural sector: A comparison with The Dutch Agriculture and Innovations

Innovation is the key to an enhanced agricultural system in an economy. Modernization and digitalization in the agricultural sector can not only ensure the food security of the nation but also contribute to sustainable development.

And when it comes to innovation and digitalization in the agricultural sector, the Netherlands has built a name for itself as a pioneer. The Dutch can produce twice as much food using their available resources and technologies.

In 2022, the Dutch agricultural farms produced 4 million cows, 13 million pigs, and 104 million chickens, with nearly 24,000 acres of various crops and others. Such an amount of agricultural production not only fulfilled the Netherlands’ demand but also allowed the country to export worldwide. In fiscal year 2022, the Dutch economy earned an estimated 49.6 billion euros from agricultural exports, which made it the second-largest exporter of agricultural produce in the world.

But then again, Bangladesh isn’t too far behind in achieving self-sufficiency in food production. As the Bangladesh Agricultural Research Institute (BARI) and other research institutions are constantly researching and inventing newer technologies, Bangladesh has achieved remarkable progress in the agricultural sector. It has achieved an astonishing 3.54 percent increase in production per year (1999-2019) and is walking steadily to become like the Dutch agricultural sector.

Although there is a notable difference in agricultural innovation and digitalization in Bangladesh and the Dutch economy, both countries are working to achieve a sustainable environment.

A comparison of Bangladesh and the Dutch Agricultural Sector

Let’s have a look through the table for a quick view at how Bangladesh agricultural sector differs from the Dutch one because of modern innovations and technologies.

IMG_2674

What is the current land area of the Netherlands, including the portion underwater, and how does their production capacity compare to that of Bangladesh?

The Netherlands is a relatively smaller country (41,850 km²) in western Europe, with 26% of its land (approximately 10,881 km²) situated under the sea level.

However, even though a larger portion of its land is underwater, this country still allocated 22.000 km² (2.2 million hectares) of land for agriculture. Using these lands and other necessary resources, the Netherlands produced 4 million cows, 13 million pigs, 104 million chickens, and nearly 24,000 acres of various crops and others. Such a phenomenal number of agro production was possible only because of their Smart Agro techniques and technologies.

However, the same cannot be said about the Bangladesh Agro sector. This nation has a total land area of 148,460 km² with 18,290 km2 of Bangladesh is underwater. Compared to the Netherlands, Bangladesh has more land area and available land for agriculture (79,600 km²). Yet, they fail to produce as many agro-products as the Dutch.

The nation produced 58.5 million tons of rice and other paddy, 14.07 million metric tons of milk, and 8.71 million metric tons of meat in 2023. Still they needed to import agro products worth $15 billion to fulfill the demand of the people of the country.

Discussion on the overall agricultural revolution of the Dutch

Referring to the “Dutch Agricultural Revolution”, the agricultural revolution in the Netherlands not only played a significant role in the country’s overall economic development but also contributed to world food production as a whole. Now, the Netherlands is the Second (2nd) largest agricultural exporter in the world.

However, the scenario was not always as such. During the “Golden Century” of the Netherlands, the population of the Capital grew from 30,000 to 200,000 within a short span of time. Such a dense population indicated that now the Dutch had more people to feed with limited resources, and therefore, they needed to find solutions for increased food production using the resources they had.

During the 17th and 18th centuries, the Dutch researched, invented, and developed more than a few agricultural techniques and technologies, like four-crop rotation, reaping machines, and others, to increase agricultural productivity and efficiency.

Here are some key aspects of the Dutch Agricultural Revolution:

Crop rotation and increased food production

Even though over half of the land in the Netherlands is used for agriculture, they still adopted the crop rotation technique to increase food production and simultaneously enhance the fertility of the soil.

Over the years, they developed a four-crop rotation to cut down the fallow period and increase soil fertility significantly. This technique increased food production (as all fields were used all year round) and enhanced feed for livestock. And when there was more food for livestock, the size of the herd and the production of meat, milk, and fertilizers also increased exceptionally.

Land reclamation and water management

A significant number of Dutch lands was and is still under the water. The Dutch people employed advanced techniques, like extensive impoldering, to reclaim these lands from the sea and inland water bodies for agricultural use. This innovative approach increased the amount of arable land available for agricultural use and hence, facilitated agricultural growth eventually.

In addition to using dikes, canals, and pumps, the nation also used windmills to pump water from agricultural land so that they don’t get affected by floods in any way.

Specializing in commercial agriculture

While increasing food production, the Dutch farmers also paid attention to cultivating high-value crops and livestock products that had high demand in urban markets and for export.

As this country has favorable weather conditions and enriched soil, the Government also aided the farmers with incentives and other facilities to enhance production efficiently. Besides fulfilling the nation’s demand, it also helped them to earn from abroad.

Research and technological innovations

Various technological and digital innovations played a great role in the Dutch Agricultural Revolution, and there is no doubt about that.

The nation invested enormous amount of time and money on Research & Development for their agricultural techniques and technologies. Many agricultural research institutions, including Wageningen University & Research (WUR), focused on innovating new agricultural tools and machinery, newer plant breeding, and sustainable farming practices to increase efficiency as well as productivity.

Besides embracing modern technologies and mechanization, the Netherlands also adopted greenhouse technology to revolutionize agro production. The use of greenhouses allowed the Dutch to cultivate crops all year round (fresh produce) and ensured a steady supply of fresh fruits and vegetables to both national and international markets.

What lessons can Bangladesh learn from the Dutch to effectively overcome their food challenge?

With the government’s support and the private sector’s investment, the agro sector of Bangladesh has shown remarkable progress over the last decade. With a Global Hunger Index of 19.0 in 2023, Bangladesh has now become a nation with a “moderate hunger rate,” while it was under a “serious hunger rate” just two decades ago.

IMG_2673

However, the nation is still not independent in food production. Bangladesh can learn a few things from the Dutch Agro System to effectively overcome its food challenges. Some of the lessons that the country can adopt from the Netherlands are:

Adopt advanced water management and land reclamation

Just like the Netherlands, a considerable amount of land in Bangladesh is also underwater. However, while the Dutch took land reclamation seriously, BD still needs to consider this technique to increase land for agricultural purposes.

The government and related parties can launch land reclamation and water management projects (especially in flood-prone areas and coastal regions) to increase arable land. Advanced irrigation techniques and water management practices can be developed for efficient irrigation infrastructure, ensure water availability throughout the year, and improve agricultural productivity like never before.

Invest in technological innovations

Although the Government of Bangladesh has allocated a huge budget for agricultural innovations and research & development, the nation needs to facilitate modern farming equipment and machinery to achieve the Dutch level of food independence. Advanced agricultural technology and infrastructure, like improved plows, seed drills, threshers, and greenhouses can boost efficiency and productivity in the near future.

Promote greenhouse farming

Even though Bangladesh doesn’t suffer from extreme weather conditions, introducing greenhouse farming can be beneficial. Greenhouses can protect the crops from pests and other weather conditions, hence, increasing quality as well as production.

Ensure financial support and risk management

Unlike the Dutch, Bangladesh farmers don’t enjoy easy and accessible credit facilities to invest in their farming. The government of Bangladesh should provide comprehensive farming credit facilities so that the farmers can adopt modern farming practices and technologies for efficiency. Introduction of crop insurance extensively can be a key initiative in this sector.

How can Bangladesh be independent in food production and supply?

Bangladesh holds the 14th position globally for the production of primary crop commodities, with a production of 93.3 million tons in 2021.

However, even after producing such a large volume, the nation is still unable to meet the food demand of the people and requires importing food from around the world. But importing means spending a large amount of dollars, which isn’t right for the economy as a whole.

Here are a few ways that Bangladesh can adopt to become independent in food production and supply:

Enhancing agricultural productivity is the key

One of the primary ways to achieve self-dependency in food production is by simply increasing agricultural productivity. Using improved, disease-resistant, and climate-resilient seeds, adopting modern farming techniques, and enhancing irrigation infrastructure can increase agro production significantly.

However, root-level farmers won’t be able to implement such things. The government of Bangladesh and the related parties should take the initiative to provide all the necessary resources to increase food production efficiently.

Adopting sustainable farming practices helps. Sustainable farming techniques like planting diversified crops and integrating plants and shrubs into agricultural land can reduce the risk of crop failure and improve soil health for enhanced production. By ensuring the best practices on the agro farm, Bangladesh can increase the food production and ensure adequate supply.

Implementing smart agro practices can enhance food production

The nation can also become self-dependent on food production by applying various advanced digital technologies and practices in its agricultural operations. Digital practices like internet connectivity, electricity, and proper devices not only give greater control over production processes but also increases efficiency, productivity, sustainability, and profitability significantly.

Allocating more of the budget to the agro sector in Bangladesh

The government of Bangladesh needs to allocate more of its budget to the agro sector to accelerate growth and increase food production than ever before. Even though the government has allocated Tk43,700 crore as agro budget (5.7% of the total budget) with a subsidy allocation of Tk17,533 crore in FY2023-24, they need to make sure that the money is spent right. Providing affordable fertilizers, better seeds, improved irrigation facilities, and other essential materials to the farmers can help the farming process and eventually increase crop production.

Spending more on research and innovation

The importance of research and innovation in Bangladesh’s agro sector is inevitable. Researching and inventing newer technologies, climate-resilient crops, and sustainable agricultural practices can pave the way for the nation to achieve food independence in the near future.

To fuel the research in the agro section, the government of Bangladesh has allocated BDT 16,336 crore for R&D in the agricultural sector so that they can try better and quicker farming techniques for enhanced food production.

Building better roads and highways

Investing and increasing crop production won’t alone bring food independence to Bangladesh. To make the nation self-dependent on food, better roads and highways need to be built all over the country. Improved communication all over the region would definitely make it easier to transport food to every corner of the nation.

Wrapping up

The agricultural sector is crucial to Bangladesh’s economy, but the country still needs an “Agricultural Revolution” similar to the Netherlands to achieve a zero-hunger rate.

Undoubtedly, Bangladesh has improved and increased its agro sector by adopting and implementing newer innovations and technologies. However, the nation’s progress in agriculture still requires significant innovation to reduce dependency on food imports.

By following the agro model of the Dutch, Bangladesh can surely walk towards food independency in the near future. Besides implementing crop rotation, better land and water management Bangladesh must increase investment in agricultural research, promote modern farming techniques, and ensure better infrastructure and financial support for farmers. By adopting these strategies, Bangladesh can achieve sustainable development and greater food security.

Ahmed Shoyeb Iqbal is head of operations at Dhaka Tribune.

উত্তরার জসীমউদ্‌দীনে ডোমিনোজ পিৎজার ৩৪তম শাখা উদ্বোধন

Domino’s Pizza unveils 34th restaurant in Uttara’s Jasimuddin

by with No Comment news

The world’s leading pizza company and Bangladesh’s number-one pizza brand, Domino’s Pizza, is expanding its roots in Bangladesh with yet another restaurant launch in Uttara’s Jashimuddin.

Domino’s Pizza inaugurated its 34th restaurant today at GQ Shefali Tower in a grand celebration. Bringing a slice of happiness to all pizza lovers, Domino’s Pizza Jasimuddin is offering a 40 % discount on the first online order for new Domino’s customers until the end of September 2024.

The inauguration event was graced by international delegates from Domino’s Pizza, including Gawaine Wong, International Business Manager—Asia, Middle East, and Africa; Noel Soong, Project Lead, International Analytics and Insights; and Alessandro Cara, International Operations COE Manager, along with other esteemed officials.

The launch event featured a ribbon-cutting ceremony, a slicing activity showcasing a giant pizza. Measuring 3 ft x 2 ft, fun games for kids, and fantastic food for all guests.

Weiking Ng, Vice President of International Business, Domino’s Pizza  – Asia, Middle East, and Africa, said for the occasion, “As the largest pizza company in the world. One of the fastest growing Domino’s Pizza markets in Asia. We attribute it to the overwhelming response from the people of Bangladesh. Their patronage inspires us to expand our restaurant network nationwide. And make our global quality, service and experience more accessible through the length and breadth of Bangladesh.”

Gawaine Wong, International Business Manager:

—Asia, Middle East, and Africa. Expressed his enthusiasm for the expansion, “We are excited to bring a wide range of pizza, sides, rice, and desserts to our discerning customers in Bangladesh for all occasions, from celebrations to casual get-togethers and special indulgences. Our commitment to quality and service remains solid as we continue to grow. And expand throughout the country to bring happiness to more Bangladeshis.”

“The Jasimuddin restaurant marks another milestone in our journey of having a Domino’s Pizza restaurant in every residential and commercial area in the country. We hope that more people can enjoy our delicacies and create cherished memories at the new restaurant.” Added Ahmed Shoyeb Iqbal, the Chief Operations Officer of Domino’s Pizza Bangladesh.

As of now, Domino’s Pizza has 33 restaurants in five cities in the country. Dhaka, Chattogram, Khulna, Cox’s Bazar, and Narayanganj. A new restaurant is set to be launched in Sylhet on September 30, 2024.Bangladesh currently employs over 600 people directly.

It also features Oregano Rice Bowl, Saucy & Messy Pizza, a range of Garlic Breads. And other signature dishes, including the iconic Choco Lava Delight.

Founded in 1960, this is the largest pizza company in the world. It ranks among the world’s top public restaurant brands. With a global enterprise of more than 20,900 stores in over 90 markets. To experience the joy of cheesy goodness, order online for home delivery on the Bangladesh app. Available on Play Store and App Store, or directly from the web at m.dominos.com.bd or call 16656.

উত্তরার জসীমউদ্‌দীনে ডোমিনোজ পিৎজার ৩৪তম শাখা উদ্বোধন

উত্তরার জসীমউদ্‌দীনে ডোমিনোজ পিৎজার ৩৪তম শাখা উদ্বোধন

by with No Comment news

উত্তরার জসীমউদ্‌দীনে ডোমিনোজ পিৎজার ৩৪তম শাখা উদ্বোধন:

রাজধানীর উত্তরার জসীমউদ্‌দীনে জি কিউ শেফালি টাওয়ারে ডোমিনোজ পিৎজার ৩৪তম শাখা উদ্বোধন করা হয়েছে।

এ উপলক্ষে পিৎজাপ্রেমীদের বিশেষ ছাড় দেওয়া হয়েছে।

আজ সোমবার পর্যন্ত নতুন ক্রেতাদের প্রথম অনলাইন অর্ডারে ৪০ শতাংশ পর্যন্ত ছাড় দেওয়ার ঘোষণা দিয়েছে ডোমিনোজ পিৎজার জসীমউদ্‌দীন শাখা।

ডোমিনোজ পিৎজার জসীমউদ্‌দীন শাখায় মুখরোচক ভিন্ন ভিন্ন স্বাদের পিৎজার পাশাপাশি ওরিগ্যানো রাইস, সসি অ্যান্ড মেসি পিৎজা, বিভিন্ন ধরনের গার্লিক ব্রেডসহ বেশ কিছু মুখরোচক খাবার পাওয়া যাবে, যেমন ভক্তদের পছন্দের চকো লাভা ডিলাইট।

উদ্বোধনী অনুষ্ঠানে উপস্থিত ছিলেন ডোমিনোজ পিৎজার এশিয়া অঞ্চলের ইন্টারন্যাশনাল বিজনেস ম্যানেজার গাওয়াইন ওং, প্রজেক্ট লিড, ইন্টারন্যাশনাল অ্যানালিটিকস অ্যান্ড ইনসাইটস নোয়েল সুং, ইন্টারন্যাশনাল অপারেশনস সিওই আলেসান্দ্রো কারাসহ ডোমিনোজ পিৎজার আন্তর্জাতিক প্রতিনিধি ও দেশীয় কর্মকর্তারা।

ডোমিনোজ পিৎজার এশিয়া, মিডল ইস্ট ও আফ্রিকার ভাইস প্রেসিডেন্ট অব ইন্টারন্যাশনাল বিজনেস উইকিং নং এক বার্তায় বলেন, ‘বিশ্বের বৃহত্তম পিৎজা ব্র্যান্ড হিসেবে বাংলাদেশের ভক্তদের কাছে সুস্বাদু পিৎজা পৌঁছে দিতে আমরা কাজ করে যাচ্ছি।

এশিয়া অঞ্চলভুক্ত দেশগুলোর মধ্যে বাংলাদেশের বাজারে ডোমিনোজ পিৎজা খুব দ্রুত বিস্তৃতি লাভ করছে। ক্রেতা ও ভক্তদের ভালোবাসা আমাদের এই সাফল্যের সূত্র।’

গাওয়াইন ওং এই ব্যবসা সম্প্রসারণে উচ্ছ্বাস প্রকাশ করে বলেন, ‘বাংলাদেশে আমাদের সম্মানিত গ্রাহকদের জন্য যেকোনো উৎসব থেকে শুরু করে নিত্যদিনের আড্ডায় পিৎজা, সাইড মেনু, রাইস ও ডেজার্টের বিস্তৃত সমাহার আয়োজন করতে পেরে আমরা আনন্দিত। আন্তর্জাতিক গুণগত মান ও সেবার নিশ্চয়তা দিতে আমরা অঙ্গীকারবদ্ধ এবং আরও বেশি মানুষের মুখে হাসি ফোটাতে আমরা সারা দেশে ব্যবসা সম্প্রসারণ করে যাচ্ছি।’

ডোমিনোজ পিৎজা বাংলাদেশের চিফ অপারেটিং অফিসার:

আহমেদ শোয়েব ইকবাল বলেন, ‘দেশের প্রতিটি আবাসিক ও বাণিজ্যিক এলাকায় ডোমিনোজ পিৎজার শাখা চালুর লক্ষ্যে এগিয়ে যাচ্ছি।

জসীমউদ্‌দীন রোডে নতুন শাখা উদ্বোধনের মাধ্যমে এই যাত্রায় আমরা আরও একধাপ এগিয়ে গেলাম।

বাহারি স্বাদ, দ্রুত ডেলিভারি আর সাশ্রয়ী দামে বিশ্বমানের পিৎজার অভিজ্ঞতা নিশ্চিত করে ভক্তদের মন জয় করে নিয়েছে ডোমিনোজ পিৎজা।

আমাদের প্রত্যাশা, এখন আরও বেশি ক্রেতা ডোমিনোজ পিৎজার সুস্বাদু খাবারের সঙ্গে নিজেদের প্রিয় মুহূর্তগুলো স্মরণীয় করে রাখবেন।’

বর্তমানে ঢাকা, চট্টগ্রাম, খুলনা, কক্সবাজার ও নারায়ণগঞ্জ—এই পাঁচটি বড় শহরে ডোমিনোজ পিৎজার শাখা আছে।

আজ থেকে সিলেট শহরেও যাত্রা শুরু করতে যাচ্ছে ডোমিনোজ পিৎজা।

ডোমিনোজ পিৎজা বাংলাদেশ বর্তমানে সরাসরিভাবে ৬০০ মানুষের কর্মসংস্থান করছে।

বিশ্বের অন্যতম বৃহৎ পিৎজা কোম্পানি ডোমিনোজ পিৎজা প্রতিষ্ঠিত হয় ১৯৬০ সালে।

৯০টির বেশি দেশের বাজারে ২০ হাজার ৯০০টি দোকান পরিচালনাকারী এই ব্র্যান্ড বিশ্বের শীর্ষ পাবলিক রেস্টুরেন্টগুলোর তালিকায় অন্যতম।

‘ডোমিনোজ পিৎজা বাংলাদেশ’ শীর্ষক অ্যাপের মাধ্যমে গ্রাহকেরা ঘরে বসেই সহজে পিৎজার অর্ডার করতে পারবেন।

এ ছাড়া m.dominos.com.bd ওয়েবসাইট থেকে সরাসরি অর্ডার করা যাবে। ১৬৬৫৬ নম্বরে কল করেও অর্ডার দেওয়া যাবে।

The Big Picture of Online Education Business

The Big Picture of Online Education Business

by with No Comment publications
The pandemic was dreadful Business, but one of the best things that drastically improved was online education. Looking back, in the last two decades, the Internet has evolved into the world’s largest and most accessible database of information.

Apart from online shopping, e-commerce, and every other thing the Internet blessed us with, it also transformed people’s perspectives on online education and training. Online schooling is transforming the look of traditional classroom settings and making education easier and more accessible than ever before.

As a result, many EdTech startups are gradually developing. Though many success stories are written about them, no one usually talks about the big picture of their business.

Evolution of online education 

Online education, also known as e-learning, m-learning, computer-aided distance education (or CADE), is very popular these days. Who doesn’t want to save money, time, and energy, right? Thanks to online education, students may learn from anywhere with internet and electricity connections.

Globally, schools were closed due to the Covid-19 pandemic. Over 1.2 billion students from 186 nations were out of the classroom. As a result, education has evolved tremendously, with the emergence of e-learning, where instruction is done remotely and fully digitally. Some wonder if the acceptance of online learning would continue post-pandemic and how such a transition might affect the global education sector. Let’s look at some data regarding this.

Global EdTech investments reached$18.66 billion in 2019, and the whole industry for online education is estimated to reach $350bn by 2025. Since Covid-19, the utilization of language apps, virtual tutoring, video conferencing, and online learning software has increased significantly.

Pre-pandemic and post-pandemic world 

Prior to Covid-19, distance education was growing slowly but steadily. In 2018, 34.7% of college students took at least one online course, up from 33.1% in 2017. People are now following this online education trend as it is ROI driven. For instance, people, after completing their undergrads, get into jobs, and it becomes difficult for them to balance work and higher studies.

That’s where the EdTech companies are also focusing on; flexibility, affordability, and domain specific skills. Another positive aspect is that earlier, we all had to go through a system of learning, for instance, primary school, secondary, higher secondary, university, and even work and higher studies.

But the concept of education is now broadening thanks to different EdTech platforms, boot camps, and trainings, resulting in lifelong learning and skills development. Children are also now learning coding and robotics.

Major players of online education in the international markets 

The market is flooded with online learning platforms that serve millions of people. While Skillshare caters to creatives with animation, photography, and lifestyle courses, Coursera caters to academics with university courses. The world’s top universities are also democratizing education by offering online courses.

Both Stanford and Harvard offer online courses in computer science, engineering, mathematics, business, art, and personal development. All of this shows that people want to learn online.

The rapid change of the world may be the reason for the high demand and rapid market growth. Udemy president Darren Shimkus says, “The biggest challenge for learners is to figure out what skills are emerging, what they can do to compete best in the global market.”

Let’s look at some of the popular EdTech platforms and their features.

edX

  • Founded by Harvard and MIT
  • 2,500+ online courses for free
  • About 145 of the courses are from Harvard, ranging from public health to history to programming and poetry
  • These classes are free to audit, but you can pay $50-200 for features like graded homework and completion certificates for your resume or LinkedIn profile

Coursera

  • An online learning platform with lecturers from prominent colleges including John Hopkins and Stanford
  • There are over 4,300 courses, 450 specializations, 440 projects, and 20 degrees available on Coursera’s website
  • Due to the pandemic, platform users grew by 66% in 2020

Udemy

  • Over 40 million students, 70,000 teachers, and 155,000 courses offered in 65 languages
  • It is an open marketplace where anyone can build a course
  • Students and instructors from over 180 countries have enrolled in over 480 million courses

Capturing the EdTech market 

The Indian EdTech ecosystem has also matured. According to KPMG, India has around 3,500 EdTech startups, and these Indian EdTechs have already made a mark on the global EdTech market. In 2020, Bengaluru-based Byju’s became India’s third decacorn and the highest valued unicorn at $16.5bn.

By 2018, US EdTech businesses had raised $1.45 billion. Moreover, 44.1%, equivalent to $16.34bn, of global investment in EdTech in 2018 came from China. The Chinese EdTech sector has grown exponentially, with 423 million online education users in March 2020.

By January 2020, a few EdTech companies were worth over $1bn. According to the EdSurge financing database, the US EdTech industry raised approximately $2.2bn in 130 acquisitions. Globally, EdTech investment is expected to reach $8 trillion by 2025.

Company Country Last Round Type Valuation
ByJu’s India $350M Series F $16.5B
Yuanfudao China $300M Series G Top Up $15.5B
Zuoyebang China $1.6B Series E+ $10.0B
VIPKid China $150M VC/PE Round $4.5B
Articulate United States $1.5B Series A $3.75B
Unacademy India $440M Series H $3.4B
Udemy United States Series F Top Up $3.3B
Emeritus India $650M Series E $3.2B
ApplyBoard Canada $300M Series D $3.2B

 

Financial and non-financial benefits

Online education is frequently less expensive to students. Online programs eliminate the need for expensive campus accommodation, transportation, and other expenditures such as student fees, gyms, computer laboratories, etc. Hence, an online student can save hundreds of dollars per month.

However, EdTech platforms made creating and selling courses more effortless than ever. Many of the tools and equipment required to develop a course are easy to use and produce excellent results. Online courses also provide a passive income source. Creating and selling a course can help you financially business.

If your course is online, you can have students from any time zone. However, quality online courses take time to prepare. Your success depends on the demand for your course and your ability to attract your target market. Unfortunately, it’s difficult to optimize your profits while keeping your course cheap for students.

Looking on the bright side, online learning provides teachers and students greater convenience, access, and flexibility. It also makes classrooms more engaging. Many teachers indicate that students perform better in online courses. Online courses that are well-run tend to boost student retention and satisfaction. Online education also reaches a large audience. These classes are not age, class, or location restricted.

On the other hand, for teachers or trainers who have been using traditional teaching methods for several years, learning about online learning may be difficult and complex. Online learning does not necessitate significant technical abilities, but participants must be comfortable using computers and the internet. Slow internet can also be frustrating, especially in rural locations for business.

What are the challenges?

The EdTech market is bound to have some competition. The providers must fight for the right to sell their products to customers. The most notable examples include technological challenges in education due to a lack of funding. And this is in a market where potential demand far outnumbers supply, with millions of schools, thousands of colleges, and universities waiting for the right time to upgrade technologically.

There are also contentious EdTech business issues, such as whether scaling or monetization should be the top priority for providers in the field. Investors prefer to work with long-standing, established businesses that can consistently generate consistent profits.

As a result, the scale-first-monetize-later business development strategy is becoming more popular in the field. Some of the other challenges include a long sales cycle, limited budget, over-saturated market, slow-moving in accepting innovation, non-sustainable monetization model, achievability for non-technical users, finding competent tutors etc.

Bangladesh in EdTech 

EdTech is currently thriving in Bangladesh. 10 Minute School is a Bangladeshi EdTech pioneer. The company tested an EdTech operation in Bangladesh in 2014. The company was founded by Ayman Sadiq as a YouTube channel. It quickly evolved into the country’s most popular EdTech company.

Many EdTech companies have arisen; some have acquired financing, gained traction, and begun expanding. Tracxn and Crunchbase estimate that at present there are 90 EdTech startups in Bangladesh. Let’s look at some of the popular ones.

10 Minute School

  • Offers online video lectures for students in grades 1–12, university examinations, IELTS, and GRE prep
  • Has 1.79 million subscribers
  • 20,000 video tutorials and 50,000 quizzes,
  • The 10 Minute School mobile app has been downloaded over a million times

Interactive Cares

  • Launched in 2019
  • Includes over 40 courses and 30,000 students
  • They have courses on Python, JavaScript, Django, Full Stack Web Development, IELTS, GRE
  • Launched Complete Preparation on ISSB, a military training course
  • Raised seed funding through BYLC Ventures’ start-up accelerator program

Shikho

  • Launched in 2018
  • Have 80 animated video lessons totaling 700 minutes, 3500 questions and answers, 700 notes, and 1000 illustrations for SSC General Mathematics business
  • Raised a pre-seed fund of $175,000 in December and a seed investment of $1.3m in July, the greatest money collection for a Bangladeshi EdTech business

Upskill

  • Debuted in Bangladesh in 2016
  • Bridges the technical skills gap between job seekers and employers
  • Offers over 34 video lessons for Tk3,000 per year
  • Upskill Library now has over 22 certified trainers
  • The company raised over $100,000 in seed capital in February 2021

However, in Bangladesh, we don’t really have enough online courses and platforms for the kids compared to college and university-level students. This gap can be reduced if more platforms take initiatives for kids.

Now, what might the future of the EdTech community in Bangladesh look like? Well, in the first half of 2021, Bangladeshi Edtech startups raised approximately $2m. Edtechs had a 5% market share in the education market prior to the pandemic, and it is expected to increase to 10% after the pandemic. Experts predict that the market for Edtechs in Bangladesh will reach 700 million USD by 2025. In the near future, this rapidly growing industry is expected to be the torchbearer of the Bangladeshi start-up community.

The future of EdTech industry 

Tech-based learning is the future of education. Establishing an effective environment that helps learners develop industry-relevant skills was previously optional, but now it’s possible just by a few clicks. This pandemic has demonstrated how useful and necessary online learning tools are; when the world came to a halt. Hence, online EdTech companies were highly benefited as their products became popular and also a necessity to the students.

Because of the sudden demand for online education, experts in education and learning believe the EdTech industry will only increase in the coming days. Entrepreneurs will use technology to develop highly tailored learning opportunities, make education available to all, and scale the industry in new and unexpected ways. EdTech has the potential to fundamentally alter education as we know it.

From 2010 to 2019, EdTech VC investments grew to $7bn. HolonIQ predicted $87bn in VC funding over the next decade (2020-2029). So far in 2021, EdTech VC funding has reached $26bn with $10bn in the first half. So the initial $87bn prediction may reach $200bn by 2030. A $10 trillion global EdTech market is expected by 2030, according to HolonIQ. China leads the world in VC fundraising, with over 50% of funds raised, followed by the US and India. Check

We can all agree that the transition from onsite to online learning was inevitable. However, after seeing the above data, we can all believe that we will still continue using online platforms to make learning effective and useful.

Conclusion 

David Warlick said, “We need technology in every classroom and in every student and teacher’s hand, because it is the pen and paper of our time, and it is the lens through which we experience much of our world.” I hope by now we all know the importance and the future of the EdTech industry. Last but not the least, we all must be welcoming to the new changes and new innovations.

Meena Bazar Brand, and Meena Bazar's eCommerce Strategy With Ahmed Shoyeb Iqbal, GM, Brand, Communication, and Business Development, Meena Bazar

Meena Bazar Brand, and Meena Bazar’s eCommerce Strategy With Ahmed Shoyeb Iqbal, GM, Brand, Communication, and Business Development, Meena Bazar

by with No Comment publications

Meena Bazar Brand, and Meena Bazar’s eCommerce Strategy With Ahmed Shoyeb Iqbal, GM, Brand, Communication, and Business Development, Meena Bazar

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Ahmed Shoyeb Iqbal, General Manager of Brand, Communication, and Business Development, Meena Bazar, on Meena Bazar’s brand and communication strategy, Meena Click and Meena Bazar’s eCommerce ambition, digital payment, the business of retail, and the art of marketing and communication.

Future Startup

Thank you for agreeing to do this interview. What is your background and what are you working on?

Ahmed Shoyeb Iqbal

I have been working at Meena Bazar for almost nine years now. Previously, I worked at Grameenphone. After leaving GP and before joining Meena Bazar, I went to the UK to do my MBA from the University of London where I studied Marketing Management. I returned in 2009 and joined Meena Bazar.

Meena Bazar, a relatively smaller retail chain at that time, was at the beginning of a new phase. The company had already conceived an expansion plan.

Although I studied Marketing Management, initially, I joined in a different role in the training and development department as Manager, Training, and Development.

We had about seven outlets at that time. Overall supermarket business was a nascent concept in Bangladesh. In fact, the age of supermarket business in Bangladesh is about 18 years. The people with domain expertise in supermarket business was in short supply. Hence, training and development was an important department for Meena Bazar in order to scale the business.

The department was responsible for preparing and improving the skills of salespeople and store managers, which was particularly critical during that formative phase.

Since I had foreign exposure and a degree in Marketing Management, I used to train staff and store managers on customer service, developing customer service framework, working on different modules and other relevant aspects.

After working for a year in that department, I moved to my core function which is brand and communication. I started as Manager, Brand, and Communication for Meena Bazar. Currently, I look after the Brand, Communication and Business Development as General Manager.

I work with different vendors such as Pran, Unilever, GSK, Shajeeb, and others to launch joint promotional campaigns.

Most of the promotions that you see from us, such as 10% discounts on a particular product or 5% on another, these are not our promotions per se, these discounts come from our vendor partners. We ensure that it reaches to our customers so that they purchase these products.

One of my responsibilities is to bring these sorts of communications by working with our partners.

Generally speaking, we have two priorities at brand and communication department at any given time. One is to increase footfalls in our stores which means growing the number of customers visiting our outlets daily; and secondly, increasing the basket size of our existing customers through offers and promotional campaigns.

Apart from regular communication works, we also look at how we can build the lasting relationship with our customers. Over the past years, we have successfully introduced Meena Bazar Club Card, a membership platform for Meena Bazar customers where we currently have over a hundred thousand members. We launched it in 2012. It has been growing consistently since then.

We also launched Meena Bazar website, www.meenabazar.com.bd, in 2012. We were the first grocery chain in the country to launch a fully dynamic e-commerce website in Bangladesh. Our ecommerce endeavor has evolved over the years. Recently, we’ve rebranded our ecommerce platform to www.meenaclick.com.

Besides Meena Bazar, our parent company, Gemcon Group, operates another retail chain called Gourmet Bazar. I and my team also look after the branding and marketing of it.

We have two Gourmet Bazar outlets: one at Banani and another at Gulshan. Both of the outlets are very well received. Our Banani Gourmet Bazar has a community-centric positioning. We have been able to establish it as an event-based, community-centric outlet. It has a nice coffee section, a grocery section and it attracts different types of people. On the other hand, our Gulshan branch has made its mark as a premium grocery shop.

These are some of the things that we do. Apart from these, there are regular campaigns and promotional activities. There are a lot of events these days that warrant for our attention. We also run event-specific promotional campaigns.

As a supermarket, we sell products of other brands. We do have some home brand or private label brands such as tissue, water, and a few others, but mostly we aggregate brands. Bring them under one roof and in the process offer convenience to our customers. Consequently, when it comes to communication, we often require to walk a tightrope and find a balance that serves my purpose as well as delivers the result.

Digital Disruption and Its Impact on Business

Digital Disruption and Its Impact on Business

by with No Comment publications

Digital Disruption and Its Impact on Business:

By Ahmed Shoyeb Iqbal

Imagine you are in a super shop queue to pay for the things you bought. Did you ever notice all the products you buy from a super shop are scanned by a bar code reader? Super shops use barcodes to keep track of all in-stock and out-stock products and quickly generate the invoice and checkout. The benefit of using a barcode is if a product is less than a certain number, for example, 10, a notification or alert message will directly go to the manufacturer to send over the product before it stocks out. Amazing, right?
This is just one example of digital disruption that’s happening around us. If you look carefully, you’ll notice a lot of such examples. From super shops to the telecom industry, garments sector, mobile banking, digital payment platform, you name it, you see it! Like with time, the human race is evolving, and we’re moving towards a digital future. And digital disruption is one of the first steps towards moving to a digital future! By definition, digital disruption is an effect that changes the expectation and the operations in an industry, market, or process caused by digital assets and capacities.

Digital disruption might be helpful or harmful depending on the type of business and other associated factors; while some companies can be benefitted, others can be affected. And it is applicable for both SMEs and big players. The main game is when you can take advantage of the disruption and act accordingly.

So, if you are an entrepreneur looking for ways to save your business from digital disruption, or you are here to know how you can take advantage of this disruption, then you are at the right place!

 

Traditional vs. Digital business model

Before we jump into the advantages of disruption, let’s look at different types of business models first. For an entrepreneur, it is tough and challenging to run a business. But for now, I would want you to take a minute and imagine being a customer. Keeping in mind the current pandemic situation, you would like to shop, order, even pay bills online, right?
So, if you go back to being an entrepreneur, which business model would you prefer? I hope you have found the answer to your question!
Traditional Business Model
Organizations with any kind of office setup and selling products and services through physical stores fall under Traditional Business Model. In a traditional business model, the role of manufacturer, distributor, and the retailer is significant. Here, B2B and B2C models are followed to make the business smooth.

How Netflix and Amazon Prime Video are Revolutionizing

How Netflix and Amazon Prime Video are Revolutionizing Home Entertainment

by with No Comment publications

How Netflix and Amazon Prime Video are Revolutionizing Home Entertainment:

People have been obliged to stay inside their homes to stop the spread of the coronavirus since Covid-19 has negatively impacted the majority of the global economy and industries.

People have also been utterly bored due to the lack of activities.

In this locked-up situation, your Netflix account, which has thousands of exciting films, series, and shows, might have been your closest confidant.

How Netflix and Amazon Prime Video are Revolutionizing Home Entertainment:

Whether it’s a major service like Netflix, Disney Plus, or HBO Max or specialized streaming service for kids or enthusiasts of anime like Crunchyroll, horror films, or Asian dramas like Rakuten Viki, streaming TV dominates entertainment in homes all over the world.

And now more options than ever are available to us, and they are always evolving.

Their algorithm helps us categorize all our favourite genres.

From our recent watches, they develop the most similar watchlists within seconds.

 

With a much larger subscriber base than HBO Max (74 million) and Disney+ (87.6 million), which is offered in fewer countries, Netflix has 220.6 million users worldwide. More than 190 different countries provide Netflix streaming.

Their collection of TV series and films differs by region and is subject to periodic modification.

Notably, China, Crimea, North Korea, Russia, and Syria do not have Netflix.

Case study of Netflix

Marc Randolph and Reed Hastings came up with the concept for launching a service that offered online movie rentals on August 29, 1997, in Scotts Valley, California, where Netflix was first established.

With only 30 employees and 925 titles accessible when it first opened its rental stores, the business used a pay-per-rent model with rates and due dates.

This represented nearly the complete selection of DVDs that were then available in print.

With a $2 delivery fee, rentals cost about $4. Netflix opted to transition to a subscriber-based business after experiencing tremendous growth.

There were 4.2 million Netflix subscribers by the year 2005.

On October 1, 2006, Netflix announced a $1,000,000 award for the first person to create a video recommendation system that could outperform Cinematch, the company’s current algorithm, by more than 10% in predicting consumer ratings.

Three Primetime Emmy Awards were given to Netflix’s “House of Cards” series in 2013.

By 2014, Netflix had expanded into six European nations and had won seven creative Emmy Awards for its work on “House of Cards” and “Orange Is the New Black.”

With the emergence of streaming services, Netflix amassed more than 50 million subscribers worldwide.

By 2016, Netflix had a global audience, and the corporation has since pushed to increase its subscriber base while producing more original content.

From that moment on, Netflix was unstoppable, and today it dominates the video-on-demand market on a global scale.

Netflix’s business model

The platform now uses streaming technologies, which have elevated and enhanced Netflix’s overall organizational structure and financial performance.

The following major trends, which are incorporated into Netflix’s current business strategy, are fueling its exponential growth:

  • Technology: allows for smooth content viewing across a variety of platforms;
  • Comfort: People who frequently rent movies, enjoy movies, and want to get the best value for their money do not have time to go out and browse for movies; they want comfort when content is provided to them;
  • On demand: having access to content wherever you are and whenever you want;
  • Subscription: dependency, minimal monthly costs, and a straightforward framework;
  • Data-driven creation: proactive content creation that takes into account individual preferences, in addition, to use for recommendations.

How does Amazon Prime make money?

One of the most popular video streaming services is Amazon Prime Video.

When it comes to earning money, it’s also one of the more complicated hybrid SVOD (subscription video on demand) and TVOD (transactional video on demand) businesses.

The service’s parent firm, Amazon, receives a revenue report from the service.

The absence of a set monthly price is another factor.

Instead, Amazon Prime Video relies on the sizable annual subscriber base of Prime members, who pay $119 annually to make use of all that Prime has to offer.

At the end of 2019, sources indicated that Amazon Prime Video had 96.5 million subscribers and was still growing.

Among the numerous divisions of the business, Prime Video has comparatively low overhead expenditures.

However, with Amazon hiring swiftly to grow the Prime Video team in 15 offices across international countries, those are soon changing.

However, Prime Video’s utilization of the widely used Amazon Web Services may be its most advantageous resource for developing its video streaming technology.

The platform can compete with the major television networks by streaming NFL games live and without interruption thanks to AWS.

Comparative analysis of the business models of Amazon Prime Video and Netflix

  • Netflix broadcasts 4K and HDR content and it stands out in the video and sound quality
  • Amazon Prime Video cannot play high-resolution HD content on a low-speed internet connection
  • One can only stream movies or TV series on it
  • One can get extra benefits such as Amazon Prime Music and faster Amazon delivery
  • Netflix supports a wide variety of devices including gaming consoles
  • Amazon Prime does not support devices like Gaming consoles
  • Netflix has an extensive library of titles including many renowned in-house documentaries also series
  • The content library of Amazon Prime isn’t as enormous as compared to Netflix
  • Netflix is comparatively expensive
  • Amazon Prime is cheaper than Netflix
  • Only 897 Netflix movies are not rated yet
  • 31,066 of Amazon Prime’s movies are not rated, meaning, the movies are too old for a rating or are too small for going through the rating procedure
  • Netflix allows limited downloads to the user
  • Amazon Prime Video does not limit the user for video downloads

Will the business model for Amazon Prime Video persist?

Amazon Prime has grown to be the world’s largest and most profitable subscription model, offering Free Shipping (same-day, 2-day, or 2-hour delivery), Prime Video, Prime Reading, Prime Music, Gaming, attractive discounts, and so on.

It’s a one-way ticket to all of Amazon’s benefits, including the greatest selection of products and services.

Amazon Prime has created a business model that encompasses the entire range of services that its users rely on in their daily lives.

It’s safe to say that, Prime Video will continue to exist for as long as Amazon does at this point.

The global revenue of Amazon’s subscription services is around $31.8 billion.

Competitive content development

When it comes to Netflix vs. Amazon Prime Video, the content battle is fierce.

Unexpectedly, Prime Video outperforms Netflix in terms of the number of unique titles.

With over 24,000 movies and 2,100 TV shows, the Prime Video Library is enormous.

Comparatively speaking, Netflix has about 15,000 original content, however, this figure fluctuates as third-party titles enter and exit the platform.

Competitive content development

Netflix still outpaces Amazon Prime in terms of content, though.

Netflix offers higher quality content than Prime Video. Compared to Prime Video, Netflix has developed a lot more original shows.

Both have excellent original content, but Netflix constantly offers more new series and movies at a higher standard while Prime Video has more titles, among which many of them are older movies and TV shows.

By 2022, Netflix will have produced nearly 2,000 original films, which will have received hundreds of nominations and 15 Academy Awards.

Features Prime Video Prime Membership + Prime Video Netflix Basic Netflix Standard Netflix Premium
Monthly price $8.99/mo. $14.99/mo. $9.99/mo. $15.49/mo. $19.99/mo.
Free trial 30 days 30 days 30 days 30 days 30 days
Streaming speed 15 Mbps 15 Mbps 3 Mbps (SD) 5 Mbps (HD) 25 Mbps (4K)
Simultaneous streams 2 2 1 2 4
Offline watching Yes Yes Yes Yes Yes

The popularity of some of Netflix’s content speaks for itself even without accolades.

One of the most popular streaming programs of all time and one of Netflix’s first significant original productions is “Stranger Things.”

In the first month after its release, the second season of “Stranger Things” alone racked up over 400 million hours of viewing.

Over the course of its two seasons, the drama series “13 Reasons Why” has amassed far over twice that amount.

In addition to dominating media headlines and trending pages over the past year, other films and TV shows like “Bridgerton,” “Squid Games,” and “Arcane” have also raised aesthetic standards in film and television.

When comparing the number of subscribers for each platform, it becomes further clearer which service is better: Netflix or Prime Video.

Despite being among the top 10, Netflix, which has more than 213 million subscribers to Prime Video’s 175 million, still surpasses Prime Video in popularity.

Despite the greater costs, millions of customers prefer Netflix’s programming to that of Prime Video.

Competitors who need each other

Amazon and Netflix are both competitors and business partners.

Last year, during the keynote address of Amazon’s cloud computing division’s first user conference, the company featured Reed Hastings, president, and CEO of Netflix, to discuss how much he loves using Amazon’s cloud to run his business – a business that competes with Amazon’s video streaming service.

Competitors who need each otherEstimated number of SVOD subscribers worldwide from 2020 to 2027, by service (Source: statista.com)

Many technology companies are both partners and rivals.

For years, Google and Apple have wandered this line with software applications running on Apple hardware devices.

And Netflix does not rely solely on Amazon; it also has a number of other partners and services.

The company does everything apart from storing its video content in Amazon’s cloud; instead, it uses a large content delivery network (CDN) to host the movies.

Everything else, however, is managed in Amazon’s cloud, including customer account history and bookmarks, call center operations, and all controls for managing and monitoring video streaming through the CDN.

While it has less content than Prime Video, Netflix has higher-quality shows and movies, which are especially appealing to families and 4K streaming enthusiasts.

Netflix is also the best streaming service for those who want new content in a variety of genres on a regular basis, with thousands of original titles.

Viewers’ acceptability

Personal taste determines the quality of the consumer experience on Netflix vs Amazon Prime. This applies to the platforms’ apps and websites, as well as the content they contain.

Some viewers, for example, may prefer “The Marvelous Mrs. Maisel” to any other Netflix content.

Similarly, some Netflix subscribers may never want to close their subscriptions as long as a new season of “Stranger Things” is on the way.

Netflix offers a better visual experience because it supports 4K Ultra HD on all of its content with a premium subscription, whereas Prime Video only supports HD.

For those who choose to stream from an 85-inch TV setup, Netflix will provide a more theatrical experience.

Viewers' acceptability

Netflix may also be a better service for families because it has more excellent children’s shows and movies, as well as unique interactive shows.

Netflix’s dedicated children’s site features shows and movies from some of the most well-known family franchises.

Kids can watch movies and shows like “How to Train Your Dragon,” “Pokemon,” “LEGO,” “The Magic School Bus,” “Jurassic Park,” “A Series of Unfortunate Events,” “Lost in Space,” “Despicable Me,” and thousands of more kid-friendly shows.

Streaming is killing broadcast TV

The transition to streaming is accelerating.

According to an NMS and Nielsen Bangladesh study, the number of television watchers in Bangladesh was 42% in 1998 and 74% in 2011.

Furthermore, the percentage of watchers has climbed to 82.9% by 2016. However, since 2017, the number of television channel watchers has dropped to 80%.

The tastes of the viewers evolved with time. Furthermore, the scarcity of high-quality content has dramatically reduced the demand for cable TV channels.

And sitting in front of the TV for an extended period of time with heavy advertising is inconvenient for the viewers.

According to media insiders, ads are consuming the majority of our entertainment space on local channels in exchange for lower per-minute rates negotiated based on viewership.

With so many local and foreign TV channels, it’s already difficult to keep a loyal audience turning on their televisions to watch a specific program on a specific channel.

When most of our 30-plus local channels lack a consistent plan to attract viewers, the situation deteriorates.

In light of this, Information Minister Hasan Mahmud said that the airing of Bangladeshi ads on downlink international television networks was costing TV broadcasters Tk500–1,000 crore in lost advertising revenue annually.

A downlink is a transfer or communication from a satellite to one or more receivers on the ground stations.

Local advertisements on foreign networks are now prohibited by the government.

 

How can local TV channels remain relevant?

The quality of any content is important, but only when it is presented and promoted well, as with soap packaging and marketing campaigns.

Because, unless people know what a program is about and want to spend time watching it, who can judge its quality?

The person sitting in front of the television may be looking for something entertaining to distract him from his mundane daily routines.

So he quickly flips through the channels, hoping to find something worth watching, and comes across a long series of commercials.

These low-cost advertisements essentially serve no one’s needs.

Making the content of the local TV stations accessible on online streaming services is one way to address this issue.

They can also support various TV networks by providing live TV streaming services.

Local stations will be able to tailor their news, sports, live events, and shows by combining over-the-air antenna TV with the Internet.

 

Ahmed Shoyeb Iqbal.

One Step Ahead, Two Step Back

One Step Ahead, Two Step Back

by with No Comment publications

 

One Step Ahead, Two Step Back: If you visit the official website of the Bangladesh Government, you will see a few apps listed as
“necessary apps” including Bangladesh Directory (for Android and iOS), Bangladesh Tourist Spot, Uttoradhikar, and Ogrojatra (Election Manifesto). But how many of these apps fulfill their true purposes is a real question.
If you browse through the Bangladesh Directory app, you will notice different sections that hold supposed contact information of important personnels. After using the app for only a little while,
you will be able to see what is wrong with it. Many of the information are incorrect while some are quite vague.

For example, if you scroll through the BGB section, you will see a person named Rob pops up who supposedly has a contact number that is surprisingly presumptuous. His phone number is: 1234567. Most of these apps were developed with technical help from the ICT division, a2i, Cabinet Division, or the UNDP. Another Government app developed by a2i, named EkPay is claimed to serve the purpose of digital payments, like bill payments through cards, or bank transactions. It has a download number of 10K+ with an average rating of 2.8 stars. The problem with the app is that the billing information doesn’t get updated even once you pay the bill. A similar problem was faced by a reviewer, who wrote, “Poor performance. DESCO meter was not recharged but amount was deducted from account.”

Do any of these apps work?

The general idea behind a successful app is the proper implementation of its purpose. From this perspective, the most successful Government app is undoubtedly the Surokkha app. The app has a 5M+ number of downloads with a 4.3 star rating. Romana Khan, a housewife from Dhaka, said, “The Surokkha app is very easy to use. The app produced my data and I could successfully register for the vaccine.”
Although questions can be raised about how the app was failing multiple times whenever it got overflowed with traffic. Some people even complained that they noticed glitches in the app. One Step Ahead, Two Step Back

How many unsuccessful apps are still there?

Did you know that BD Sugar and Food Industries is an app? It was developed in 2015, and has not received an update since 2016. If you open the app, you will notice a homepage that is supposed to lead you to information on this field. But if you click on the avatars, it doesn’t work anymore.
The Hospital Finder app is an application to find nearby hospitals around the user. If you open the app, a Google map of the streets pops up. But due to its incorrect location detector, it won’t be able to produce

results of nearby hospitals, failing in its only purpose. The NBR Tax Calculator is another app that calculates total amount of taxes based on user input. Unfortunately, the app is stuck in the year 2016-17, and cannot be used to calculate the tax anymore. It could prove useful if only it was updated with time.
There were a total of 600 apps developed in the time period between 2013 to 2015, which took an estimated budget of 18.35 crores. All of these apps fall under these two projects. Only 44 of them are still available online.
Around 300 of the 600 apps created by two projects were designed to allow people to directly access the services of specific government offices or agencies. Although most of them have since become obsolete, some apps have been developed on the agencies’ own initiative.

 

 

Exploring the Future of AI

Exploring the Future of AI

by with No Comment publications

Exploring the Future of AI:

In today’s world, technology has become an integral part of our lives, transforming how we live, work, and communicate. From smartphones to social media, technology has revolutionized the way we interact with the world around us, making our lives easier, more efficient, and more connected than ever before. Automation has given us more time than ever before to pursue our hobbies and interests.

Despite not always feeling like it, we have more free time now than ever before, allowing individuals more leisure time to socialize, create, and unwind. In recent years, the advancement of automation has been largely driven by the emergence of artificial intelligence (AI). The rise of AI has led to significant improvements in efficiency and productivity across various industries. With the ability to automate mundane tasks that people would rather not do, AI has become an increasingly popular tool for people around the world.

In recent years, there has been a great deal of interest in the field of AI. However, people’s views on AI differ according to their familiarity and knowledge. In this article, we will examine how different people’s familiarity with AI leads to varying interpretations of this field. This article compares and contrasts popular beliefs about AI with the truth about this emerging technology. The future of AI in the workplace is also discussed, along with its potential in Bangladesh.

Perception vs reality

AI is a tool that has the potential to enhance human capabilities and boost productivity. AI is a term used to describe the ability of a computer system to perform tasks that typically require human intelligence. These tasks can include decision-making, problem-solving, and learning new information. AI relies on various techniques, such as machine learning methods, neural networks, and natural language processing, to analyze data and generate predictions.

If the general public had the impression that the technology was unreliable, they would be less inclined to trust it.

AI’s future is a mystery. “One can imagine such technology outsmarting financial markets, out-inventing human researchers, out-manipulating human leaders, and developing weapons we cannot even understand,” stated renowned scientist Stephen Hawking. Is robot control a real threat? How much should we worry?

Let’s examine many prevalent AI danger beliefs and see if they’re accurate.

  • Robots will rule

  • The idea dates from 1965 through 2023 to 2045. We’re not there yet. AI  has been used in a narrow range so far, and while we’ll continue to improve technology, robots taking over in 50 years seem doubtful. The New York Times states: “You won’t be obsolete for a long time, if ever”

  • We’ll be replaced by robots

  • AI will change work. How firms and governments react to AI’s growing ability to manage human occupations will determine the impact. Two-thirds of Americans expect robots to do most human work in 50 years, according to Pew Research. But technology’s expected impact on jobs is different, comparing studies on how many jobs technology will kill (and create) shows that no one knows. Technology Review states: “Predictions range from optimistic to devastating, differing by tens of millions of jobs even when comparing similar time frames.” According to Gartner, AI will eliminate 1.8 million jobs by 2020 but create 2.3 million

  • AI will invade privacy and cause persistent surveillance

  • Video algorithms can detect and track humans and objects. Google, MIT, IBM, and DeepMind are constructing video databases for facial recognition and behavior analysis. Current AI technology can replicate human voice and alter video with outcomes indistinguishable from real life, threatening privacy, safety, and honest news reporting.
  • AI is great at spying and invading personal data, but scientists argue computers can’t understand media like humans. We’re getting closer to programmers that can watch and participate in surveillance and data systems.

AI technology can be scary, yet it’s easy to trust sophisticated tech that can surpass human abilities. Better tech that solves human problems requires transparency.

The impact of AI on the work domain

One of the fastest-growing industries today is AI. The ultimate goal of this field is to create systems as sophisticated as the human brain.

  • Financial Services: AI was early adopted in this industry. Data and difficult use cases are the reasons. The history of banking and finance shows that this sector is vital to human development and takes a lot of effort to avoid fraud and failure. Avoiding this requires a well-trained computer, AI algorithms and initiatives to protect the system and generate big profits. Designing digital payment channels with AI agents
  • Health care: AI has a big impact on health care. We can see that AI is used in various kinds of health care procedures, from daily ones to high-level ones that require accuracy. The fit band or iWatch, which collects data from body sensors, is a simple example of AI in health care.
  • Education: AI has expanded education’s potential. AI can grade instructional content faster and easier than humans. AI may also automate processes, personalize learning, universally access, create smart content, teach, optimize class performance, and provide 24/7 assistance. Online classes are one of the best instances of AI in education.
  • E-Commerce: AI works well in e-commerce. AI currently attracts and boards customers safely through E-commerce. AI can forecast demand and supply, assist customers, recommend products, personalize chatbots, and more in e-commerce. Amazon, the largest e-commerce site, develops AI to stay profitable.
  • Agriculture: AI is now employed for crop monitoring, predictive analysis, and robot tasking in agriculture. Soil, seed, and atmospheric characteristics are measured using various systems. Drones can distribute water, fertilizer, and detect crop defects using AI

AI is improving every field daily. As we mentioned the market potential, every organization would invest time and money in the industry to improve their work and earnings.

Getting ready for the next generation of AI

In order to maintain a competitive edge in the employment market, it is necessary to acquire these abilities.

Placing an emphasis on creative thinking and emotional intelligence: As was said previously, AI is unable to reproduce the abilities associated with creative thinking and emotional intelligence. To complement AI and maintain a competitive edge in the workplace, it is imperative to place a strong emphasis on the development of these talents.

Investing in AI Research: Both private companies and public administrations need to put money into AI research if they want to remain at the forefront of AI development and adoption. In order to accomplish this, investments will need to be made in AI startup companies, research institutions, and cooperation with other nations.

Developing Ethical and Legal Frameworks: As AI becomes more pervasive in society, there is a need to build ethical and legal frameworks to guide the development and use of the technology.

ChatGPT and its Future

The use of chatbots by businesses to communicate with their customers has increased dramatically in recent years. Using natural language processing, ChatGPT may provide responses to text inputs that sound disturbingly human.

Textual communication predominates in the realm of extension and operations for ChatGPT. Thanks to its modular design, the product works with numerous messaging apps. These include Facebook Messenger, Slack, and Telegram. Using ChatGPT, you can provide assistance, address frequently asked questions, and carry on discussions with clients across many channels. The speech-generating models developed by OpenAI have made it possible to integrate ChatGPT with other voice-based communication methods in addition to text. The availability of speech-generating models paved the way for this.

OpenAI regularly releases updates to the model, which contribute to ChatGPT’s ever increasing accuracy. But it has limitations and can make mistakes, the same as any other machine learning system. One of ChatGPT’s limitations is how reliant it is on the quality of the training data provided. Therefore, it is crucial to curate and monitor the training data to ensure ChatGPT produces correct and ethical replies.

The potential for ChatGPT to transform the way humans interact with machines is enormous. Because of its ability to understand and respond to natural language, it can provide clients with fast, efficient, and personalized service.

AI in Bangladesh

Bangladesh is still in the early stages of AI research, with only a handful of uses for the technology across a wide range of industries. However, businesses and the government are increasingly showing an interest in AI, and there are initiatives underway to increase AI use across the country.

Bangladesh is not as advanced in its AI preparations as more developed nations like the United States, Japan, or China. However, businesses and the government are increasingly showing an interest in AI, and there are initiatives underway to increase AI use across the country. The government of Bangladesh has established the Bangladesh High-Tech Park Authority and taken other measures to foster the growth of the country’s technological sector.

In terms of AI implementation, Bangladesh lags far behind India. India has become a leading hub for AI thanks to its growing number of AI-related firms and active AI research community. The Indian government has also taken initiatives to expand the country’s AI industry.

By Ahmed Shoyeb Iqbal

Meena-Bazar-now-at-Hirajheel-in-Siddhirganj

Meena Bazar now at Hirajheel in Siddhirganj

by with No Comment news

The outlet was inaugurated by the councilor of Narayanganj City Corporation Anwar Islam and Meena Bazar’s Expansion, Brand and Online COO Ahmed Shoyeb Iqbal.

Besides, the investor of the outlet Masud Khan, Meena Bazar’s Operations and Supply Chain COO Shameem Ahmed Jaigirder, Head of Expansion and Corporate Sales of Meena Bazaar Md Razibul Hasan and other officials were also present in the opening ceremony.

Meena Bazaar’s mission is to ensure international standards of customer service and quality products and services at affordable prices.

Meena Bazar started its journey in 2002 and is currently serving customers through 37 outlets across Dhaka, Chittagong, Narayanganj, Tangail and Mymensingh.

This outlet of Hirajheel will be no exception. Apart from grocery products, customers can get various products including household essentials under the same roof.

There are also attractive offers including buy one get one free.

Due to rising commodity prices, this new outlet of Meena Bazar has taken steps to ensure market-best prices on daily necessities to maintain a seamless relationship with customers.

Besides, to bring relief in the busy civic life, residents of Hirajheel can enjoy the home delivery facility by ordering on Meena Bazar hotline number 01933117755.

Apart from Meena Bazar outlets, customers can shop online through meenabazaronline.com.

Customers have access to the super shop’s call center to address their queries and feedback.