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Prepare well to sail thru' 4th industrial revolution

Corporate leaders say at Dhaka CXO Summit 2019

Star Business Report
Enterprises should stay ahead of the curve in understanding the impacts of the fourth industrial revolution, identifying future challenges and possibilities and ensuring tailored governance, corporate leaders said yesterday.
"Business intelligence is required to understand the impact of the fourth industrial revolution. We have to find out the side effects of the technology along with its benefit in business," said Mamun Rashid, managing partner of PwC Bangladesh.
Emphasis should be given on digitalization of businesses and cyber security to face the challenges, he told a session at the daylong Dhaka CXO Summit 2019, al Radisson Blu Dhaka Water Garden.
It is the country's biggest congregation of top executives, according to Lighthouse Bang adesh, the organiser of the event, the theme of which is "In pursuit of governance".
Mahtab Uddin Ahmed, CEO of Robi, stressed the need for a minimum standard of compliance in governance. He believes audits should be responsibly carried out by the professionals.
Adil Islam, managing director and CEO of Meghna Bank, said artificial intelligence would make it easy to do business, so skilled professionals would be highly sought after.
Ershad Hossain, managing director and CEO of City Bank, said global corporate governance standards should be maintained in-house and for clients to ensure sustainability of business values.
MM Mominul Alam, managing director of Guardian Life Insurance, said the benefit that clients get is also important for the sustainability of the businesses.
In another session on "strategic management", speakers highlighted the importance of understanding the ways of marketing and revenue generation alongside changing scenarios.
"Management has to understand when the business will have to expand or shut down," he said, adding, "Continuous development is mandatory to face global combativeness."
Shwapna Bhowmick, country manager of Marks and Spencer,
said establishments need to uphold common values from the top to the bottom to establish positive mindsets among colleagues.
Bhowmick stressed the need for focusing on transparency and integrity along with creation of company cultures and sharing of common practices.
Sayem Haq, managing director of Lighthouse Bangladesh; Anis A Khan, former CEO of Mutual Trust Bank; Syed Naimul Abedin, CEO of Peakward Bangladesh; Asadul Haque Sufyani, chief operating officer at Bengal Cement, and Asif Mahmood, chairman of ADN Telecom, also spoke in different sessions.