Long ago, man dwelled in caves, independent and free. Slowly, they started living socially, in groups. Various professions emerged — some became blacksmiths, tailors, hunters, and warriors. Over time, humans developed in their professions and technologies. Human civilization, over hundreds of years, became irretrievably linked to various professions. If we consider contemporary civilization today, we find humans occupied with various fields — economic, social, religious beliefs — and also creating technology that keeps on increasing human demands.
But what happens when the same technology, which had previously made our lives easier, begins to be a cause for worry?
For those of us who were raised reading or viewing science fiction, the term “AI” is a household name. In fiction, AI was presented as either a danger to humanity or a means of its evolution. Though it was largely depicted as a danger in films, in our present life, AI has emerged as an undeniable force.
So what is AI? What does it do? And how will AI impact our future economy? Let us try to find out.
AI, or Artificial Intelligence, is a technology that enables machines to think and act like human beings. While it has yet to perfect human emotions, intelligence, or independent thinking, it is evolving at a very fast pace — created and taught by humans. What AI will or won’t do is yet to be determined, but one thing is sure — the way we utilize AI will determine the future it makes for us.
1. A New Era of Productivity and Efficiency
Wherever AI has been employed, productivity, speed, and accuracy have greatly enhanced. McKinsey Global Institute puts the figure at an estimated $13 trillion to be added to the global GDP by 2030 through AI-based automation.
Large firms such as Amazon, Google, Microsoft, and Tesla are employing AI to automate customer support, supply chains, and manufacturing. In agriculture, precision farming is employing AI to analyze land and crop data, leading to higher yields. According to the OECD, new AI applications can render certain tasks up to 20–40% more efficient, which has the potential to boost productivity across sectors spectacularly.
McKinsey also discovered that automation and generative AI can now manage as much as 70% of the time workers devote to repetitive tasks. This implies that labor founded on repetitive processing (such as small data entry, typical customer inquiries, or factory work) may contract. For example, roughly 40% of employers worldwide anticipate cutting jobs where AI can assume work.
The IMF calculates that 40% of all jobs in the world (and 60% in high-income economies) are likely to be impacted by AI, half of them potentially for the worse.
But new opportunities and new jobs are also being created. AI will have created an estimated 170 million new jobs (in areas such as data science, AI development, engineering, healthcare, and green industries) by 2030 although about 92 million jobs will have been lost — a net gain of about 78 million.
Artificial intelligence in medicine is transforming drug discovery and diagnosis of diseases by enabling quicker and more precise decision-making. Artificial intelligence is applied in the majority of hospitals to aid in quick diagnosis and treatment planning.
2. Work and Occupational Change
While AI threatens to steal numerous conventional jobs through automation, AI is also bringing about new career paths such as Data Analyst, machine learning engineer, prompt designer, AI Trainer, and AI Security Specialist.
The World Economic Forum’s “Future of Jobs Report 2023” estimates that AI and automation can displace 85 million existing jobs but can create 97 million new jobs by 2025.
This means that upskilling and reskilling are a necessity. Lifelong learning is no longer just a necessity for students alone but even for those in their mid-career. AI skills that are trending today will be the must-haves in the future in five years’ time.
3. Redefining Creativity
One of the largest impacts of AI has been on creativity. The most essential distinction between machines and humans is human freedom and imagination. There are some who think AI murders creativity, yet actually, it’s helping to open up creativity for people who never imagined themselves as artists, writers, or musicians.
Examples include:
ChatGPT, JasperAI — for content creation
Midjourney, DALL·E — for generating images
Soundraw, AIVA — to compose music
These are content creator and artist tools. 74% of creative professionals say that AI improves their work, according to Adobe. But it will take some time more before it’s able to replicate the emotional resonance, cultural sensibility, and human intuition that creative work requires — although with advances arriving at an accelerating rate.
Google’s Veo 3 model has been making the rounds on the internet lately to generate video scenes from prompts that resemble scenes from Hollywood movie clips. Down the line, there might be less need for conventional actors — but not completely.
4. Social Structure and Policy Changes
As AI grows, it demands structural societal and economic reforms. Concepts like Universal Basic Income (UBI) are becoming more popular as jobs are replaced by automation. While in the meantime essential matters such as ethical use of AI, data protection, algorithmic fairness, and workers’ rights need to be addressed through new policies.
For example, the European Union (EU) has already proposed a draft AI Act, setting out to establish requirements for responsible use of AI — delineating restrictions and rules on AI adoption.
Bangladesh, just like other nations, also needs concrete AI policies to make the technology helpful and secure for all. On the bright side, Bangladesh’s young generation is already exploring AI at a rapid rate.
5. New Opportunities for Small Startups and Entrepreneurs
Earlier, it took a lot of money and manpower to start an enterprise. Nowadays, one individual can start an online enterprise with the support of AI tools. Examples:
Shopify or Wix — to create websites and web stores
Canva + AI content — for social media design and management.
ChatGPT — for business writing, customer service, or business planning
AI is helping business owners from developing countries enter the global economy. Even in freelancing, AI is enhancing the quality, pace, and professionalism of work done.
6. Transformation in Education and Skill Development
To prepare for the future of AI, our education system needs to evolve. Rather than learning through memorization, the following need to be emphasized:
Critical thinking
Technological literacy
Problem-solving
Creativity Coding skills, data analysis, prompt design, design thinking, tech policy, and AI ethics will be the most important skills. Websites such as Coursera, edX, Udemy, and even Google now provide micro-credential courses in AI and other allied subjects — so both students and professionals can keep themselves updated.
6. Bangladesh’s Economy and Future AI
In a developing country like Bangladesh, the economy is a major factor. Moving forward without embracing AI is like shooting ourselves in the foot. Here, we lack a skilled workforce — yet AI is advancing rapidly. If Bangladesh doesn’t see AI as a threat but rather as a tool for support, then the youth of this country can become skilled more easily. In the near future, companies will look for AI specialists or individuals who can effectively use AI in their work.
We have a high number of unemployed people in our country. AI could quickly become a threat to them if they fail to adopt it in time. After all, “if AI can do a task for me in 10 minutes, why would I need an employee who takes 30 minutes to do the same thing?” — this mindset might not be widespread yet, but it will be in the future.
7. Final Thoughts
AI is not just a technology — it’s a transformative force that is reshaping economies, education, art, and the way we work and live. It’s up to us whether we make it a blessing or a curse, depending on what we opt to do with it. It’s less about fearing what AI will take away from us — but rather getting ready for what we can create with it.
