Private sector must explore economic potential of digitization

Private sector must explore economic potential of digitization

ISLAMABAD (APP): Chairman UK-Pakistan Business Council Mian Kashif Ashfaq Sunday urged the private sector to fully explore economic potential of digitization for boosting export by timely overcoming global multi-diamentional challenges.
Talking to a delegation of faculty of Institute of Fashion and Design led by Ms Fauzia which called on him here Saturday he said world needed to work on these lines as it had changed the working of the global system due to its multi dimensional impacts including time efficiency and accuracy, said a press release.
He said digitization and artificial intelligence (AI) had changed the world pattern of working and it was more importance of using technology for people to create a fair and competitive economy as well as an open, democratic and sustainable society.
Mian Kashif who is also member senate of this institute said digital transformation for economic growth and recovery required close collaboration,shared learning and exploring to work together on areas such as health, governance and satellite mapping.
He underlined the need for regulation of the digital space to ensure respect for human rights, including the rights to privacy and freedom of speech and safety of vulnerable groups such as women and children.
He said sharing best practices and legislative approaches between the international players and Pakistan would create opportunities for dialogue, partnership and investments promoting regional and global connectivity.
He said the covid-19 pandemic was accelerating the digital transformation and also exposing its challenges. He highlighted how digitization had impacted infrastructure, education and social system worldwide which promised potential venues for cooperation.
Fauzia emphasized the importance of taking full benefits of expertise of French designers of their Fashion industry and equipped our Pakistani young designers with latest global trends by fully utilization of modern means of digitization technology.

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