Artificial intelligence (AI)-driven technologies can be harnessed for climate action and significantly advance environmental and market performance in the fast fashion industry, according to a new study by an international team of researchers.

Research by the University of New South Wales (UNSW) Business School's David Grant found AI-powered climate service innovation models can improve energy efficiency, reduce emissions and increase renewable energy sources.

The former head of the central bank critiqued his fellow economists who suggested that the success in remittance and export earnings justifies withdrawing government support even as he argued against this approach, while presenting a keynote paper titled ‘Post LDC Graduation: Opportunities, Challenges, and the Way Forward.’

The paper highlighted challenges Bangladesh would face post-graduation, such as stringent Rules of Origin and the need for the pharmaceutical sector to comply with Trade-Related Intellectual Property Rights obligations.

Atiur warned that the loss of preferential market access could result in a 7-14 per cent reduction in baseline exports and to address these challenges, Atiur recommended stabilising the exchange rate, containing inflation, promoting export diversification, and strengthening remittance inflow.

He also called for improving financial sector governance and boosting overall business confidence while calling for enhancing human capital development through private sector collaboration with academia and other training providers.

By Fibre2Fashion
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