Kathmandu. Former President of Nepal Chamber of Commerce Rajendra Malla has said that AI and information technology could be the major basis for economic prosperity, job creation and digital transformation in Nepal.

Inaugurating ‘Tech Paila’, an information technology-based company in Pokhara of Kaski district today, Malla said that Nepal should invest in infrastructure, research, production of skilled human resources and policy support at a time when the world is fast moving towards an AI-centric economy.

Stating that Nepal has abundant young human resources, talents and potentials, he expressed the view that the IT sector could be made a strong base of national economy through right policy and investment.

“If Nepal can adequately invest in AI infrastructure, research, workforce, and policy support, AI can become a key foundation for economic growth, job creation and building Digital Nepal,” Malla said. ”

He further expressed his confidence that the AI Compute Center will provide access to world-class technology and resources to students, teachers, AI trainers, researchers, and startup entrepreneurs. He believes that this center will play a crucial role in building an environment of AI research, innovation, and entrepreneurship in Nepal.

Malla said that the digital economy of tomorrow will be led by young people learning, using, and innovating AI today, underlining the need to put AI education, research, and innovation in national priority.

Expressing concern over the increasing number of youths migrating abroad, he stressed the need to create opportunities for Nepali youths in the country after completing grade 12. “We need to create an environment in Nepal to build one’s career by earning, enjoying and learning,” he said, adding that the trend of foreign migration could be significantly reduced if the youths were provided with part-time employment, digital skills, internship and entrepreneurship opportunities. ”

Malla suggested increasing collaboration among the information technology industry, educational institutions and private sector to connect youths with employment. According to him, there is no dearth of talented youths in Nepal, but they are compelled to go abroad for foreign employment due to lack of opportunities and appropriate environment.

He was of the view that Nepal could be established as an important digital destination of South Asia in the near future if it could adopt strategies centered on AI, data science, software development, digital services and technology-based entrepreneurship.