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With Artificial Intelligence (AI) making significant strides in the tech world in recent times, businesses around the globe are increasingly opting for AI technology for better customer connectivity and services.
Bangladesh is also taking all-out preparation to grab the potential market AI has created. As part of it, an “AI-based Innovation Challenge-2023” was recently launched to promote AI-based activities across the country.
Several software companies are providing AI solutions too to both private and public sector entities in Bangladesh.
Sector insiders say that the use of AI solutions to provide customer services in businesses is slowly growing and users are getting good results in many sectors, like telecommunications, financial institutions, banks, healthcare providers, e-commerce companies and agriculture.
They said that the country is not far behind any other neighbouring nations now in harnessing AI potential but if some progressive initiatives are not immediately taken to scale up AI adoption, it will create a huge monopoly in customer services among business entities.
According to the UK-based PricewaterhouseCoopers report “Global Artificial Intelligence Study: Exploiting the AI Revolution,” the global GDP could be up to 14 per cent higher — the equivalent of an additional $15.7 trillion — in 2030 as a result of AI, making it the biggest commercial opportunity in today’s fast-changing economy.
The greatest economic gains from AI will be in China (26 per cent boost to GDP in 2030) and North America (14.5 per cent boost), equivalent to a total of $10.7 trillion and accounting for almost 70 per cent of the global economic impact, said the report.
So far, it added, AI provides 300 types of solutions. The biggest sector gains will be in retail, financial services and healthcare as AI increases productivity, product quality and consumption.
According to an article, titled “Role of Artificial Intelligence in Bangladesh: Current Insights and Future Prospects,” published in the South Asian Journal of Social Studies and Economics, the influence of AI in Bangladesh’s economy can boost gain by 45 per cent.
What’s happening in Bangladesh?
Mohammad Oli Ahad, founder and CEO of Intelligent Machines Limited, said, “Artificial intelligence usage in Bangladesh is at a very early stage for both AI solution providers and service receivers.
“AI mainly works for intelligence for any individual or company. The companies or individuals who are taking AI-based solutions from us are getting unbelievable benefits in terms of cost and time effectiveness, accuracy and efficiency,” he said.
He said they are also providing services to some banks. “Like, when a customer applies for a loan, AI makes a decision based on their data.”
“By our estimations, companies are getting benefitted 32 times better than they previously did.
“For example, if any company spends Tk 1 in AI solution, they are getting back around Tk 32 for their businesses or ventures,” he added.
Ahad explained that they have two clients who deal with 700,000 customers. They can solve any problem with one-third of their resources which means that now they need 33 per cent less manpower.
“Ordinary software works as per its programme while AI itself makes decisions based on any data. AI can make very quick and accurate plans or decisions about anything,” he said.
To date, however, more companies here are not opting for AI solutions hugely. It’s not because they do not have enough infrastructure but because they lack the knowledge or mindset for choosing the service.
“Currently, telecom companies, banks, financial institutions and consumer goods companies, like BAT and Unilever, are mostly taking our services and they have expressed their satisfaction,” he added.
Asked about the probable errors AI-based services make, Ahad said, “Initially, AI would give 80 per cent accurate solutions, and with time, it develops up to 95 per cent.
“We consider any solution production-ready once it’s at 90 per cent accuracy. Even if it is wrong, it is still profitable for users.”
Since they started on June 6, 2018, they have developed 32 live solutions with 38 young professionals working in their team, he said.
“A total of 10 organisations — five local and five global — are our clients. Local expansion of any AI-based service provider depends on how ready consumers are for the technology. I think AI adoption will increase within three-four years,” he added.
Ahad stressed, “We are not behind India when it comes to using AI. But in future, they may get ahead of us if local customers’ interest in AI does not increase significantly. The Indian government is very progressive and taking on a huge number of AI-based projects, which will probably take them ahead.”
He said he is seeing a new form of inequality in AI use that is going to form a new type of colonisation around the world. For example, Unilever has undertaken AI technology hugely and giving the best possible services with less human involvement and more effectively.
This will make the global brand unparalleled to others and no one will be able to compete with them.
REVE Systems Limited is another firm that is giving AI solutions to both local and international clients. The company has developed an AI-powered chatbot that several local and international brands use now.
“Although the market has not been created in Bangladesh, the situation is improving. Many companies have come to realise that AI will be our future,” said Raihan Hossain, chief commercial officer at REVE System.
“Our REVE Chat is being used by a good number of local companies like LankaBangla Finance, Rokomari.com, 10 Minute School, South East bank Limited, Transcom Digital, LG, Othoba.com and Pickaboo to serve their customers,” he said.
“The Mexican government uses our solutions to make public information easily available while protecting the people’s personal data,” he added.
Md Miftah Uddin, head of the Artificial Intelligence Unit at Brain Station 23, said AI use in Bangladesh has not hit the ground at a great scale. “It has not been easy to make people understand its usefulness.
“But after ChatGPT recently came into the picture with huge publicity, individuals and companies started depending on AI-based solutions.”
Brain Station mostly works for business entities outside Bangladesh, as awareness and utility of AI here is still in its infancy, but they are eying the local market and secured some clients like Robi Axiata, Miftah said.
“We have developed an AI solution named Rare Disease Identification, where the AI can diagnose the disease difficulty from radiology images more accurately and inclusively without detection by doctors,” he said.
As it is a new technology, there may need permission or guideline from the government. That is why they are not releasing it in the market yet, he added.
“Also, we have a tool named ‘Digital Influencer.’ It’s our AI-based chatbot that can use Twitter. It can react or post on your behalf,” he said. “Using AI, based on map data, we can also predict probable losses if an earthquake strikes in a particular area.”
“We are efficient enough to do AI-based work and have also been working for companies around the world,” Miftah added.
Artificial intelligence is also being used in agriculture and industries in a small capacity in Bangladesh.
Aqualink CEO Syed Rizwan said, “We have developed an IoT device named Sensometer that can read the temperature and atmosphere of a factory with a remote control. It can check water standards too.
“Our tools are making decisions regarding how much irrigation is necessary for what type of lands.”
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Mohammad Oli Ahad said that companies need to solve the highest-value problems first. They have to come to AI solution providers to know about the probable solutions for their businesses or operations.
“More AI-specific skills should be created academically in the country. The government should make a curriculum for that,” he opined. “If any organisation wants to build in-house capabilities, they must be aware of the necessary things. We need a plan for that.”
Miftah said, “We don’t get much AI-based work from local companies. Big international companies, if they plan to hire us, always want to know beforehand whether we have any experience in doing advanced-level work on big AI-related projects.
“If we can work on more big projects from local companies, we will be able to get the same type of work from global companies easily,” he said.
Rezwan added that a major problem now is the unavailability of potential data as it requires much research and development. “It doesn’t require a lot of money. It needs skill and the ability to adapt to the changes.”
