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Industrialists and businessmen stress on the effective use of artificial intelligence to enhance competitiveness of Nepali businesses

लगानी न्यूज

Kathmandu. KATHMANDU: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the US Embassy in Teku organized a one-day orientation program on ‘Artificial Intelligence for Nepal’s Priority Sectors’ at the FNCCI Secretariat, Teku. On the occasion, the industrialists and businessmen stressed on the need to enhance the competitive capacity of Nepali businesses through the effective use of Artificial Intelligence (AI).

Speaking on the occasion, FNCCI Vice-President Prabal Jung Pandey said that AI is an important means to enhance the productivity, competitiveness and innovation of the private sector of Nepal.TAG_OPEN_div_22 He was of the view that Nepal should accelerate technology-based economic development through responsible use of artificial intelligence, development of digital infrastructure, skill enhancement and policy-level reforms. He also stressed on the need to develop artificial intelligence systems as per Nepal’s needs through collaboration among the government, private sector and international partners.

Noting that Nepal’s young entrepreneurs, innovators, and startups are increasingly attracted to AI, he said there is a huge potential for its application in customer service, digital payments, financial technology, smart agriculture, tourism, health and education sectors.TAG_OPEN_div_20 Nepali youths can not only become consumers of technology but also artificial intelligence-based solution creators if appropriate policies, digital infrastructure, skill development and investment are ensured.

David Swissgood, Founder and Chief Artificial Intelligence Officer of Lift.ai, gave a presentation on the commercial application of AI, global practices and its potential and challenges in Nepal’s priority areas.TAG_OPEN_div_18 He also expressed the view that necessary skills could be developed through the regular practice and use of artificial intelligence.

Juna Mathema, central member of FNCCI, said that in the present era of digital transformation, AI has become a necessity and not just an opportunity for the private sector.TAG_OPEN_div_16 He was of the view that investing in innovation, research and digital skill development linking Nepali industry and business with technology would further strengthen economic competitiveness of the country.

{{TAG_OPEN_div_14} Industrialists, businessmen, and representatives of various sectors had put forth various queries related to the use of AI in their business, challenges of implementation, data management, market expansion, customer service and product management.

The program was attended by FNCCI office-bearers, executive committee members, representatives of various commodity associations, industrialists and entrepreneurs and stakeholders of the information technology sector.TAG_OPEN_div_12

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