Business
AI Robot Chefs: Automated Cooking Could Redefine Food Industry
Technology has revolutionized global networking, communication and traditional work procedures. Then came the Internet of Things or IoT which did the same all over again. In recent years the advancement of AI and robotic technology has reduced many workloads in our day-to-day life. Take cooking for example. Not all people enjoy cooking due to lack of time, skill, or interest. Now, what if we told you, you could get a robot to cook for you? Not just one dish but hundreds of them, all the while maintaining the exact taste every single time. Welcome to the age of AI robot chefs!
Benefits of AI chefs and automated cooking robots
Besides taking up the cooking challenge, AI robot chefs are also streamlining the process of food preparations. It’s making life easier with one less thing to worry about. For the culinary industry, AI robots are a game changer considering the efficiency they bring to the table.
To sum up the benefits, AI and automated cooking robots can
- solve the understaffing problem
- bring smart kitchen collaboration
- avoid the risk of food contamination
- minimize food waste.
Read more: AI & Future of Jobs: Will Artificial Intelligence or Robots Take Your Job?
Best AI Robot Chefs of 2023
Most AI chefs today are made for industrial-scale operations. The main aim is to reduce human interaction and make the process of large-scale cooking easier. While a good number of AI cooking robots are still in the development stages, only a few have moved to industrial operations. Here’s our pick of the most advanced AI robot chefs operating in 2023.
Flippy 2: The AI-powered frying chef
Flippy 2 is the successor of Flippy, a robotic fry cook chef from Miso Robotics based in the USA. The new iteration brings AI integration to the already successful Flippy. And the results are incredible, to say the least.
Flippy 2 is designed for industry-grade frying solutions. The robot uses separate baskets to fry different items at different temperatures. In this robot, the manufacturer has utilized a new feature called the AutoBin technology. This mechanism has been especially designed for low-volume specialty foods that cannot be fried in a large batch. For example, onion rings. The AutoBin automatically can efficiently monitor the raw material, frying size, and time. It can also decide the hot-holding time to wick away the extra oil after frying.
Flippy 2 has undoubtedly reduced human contact ranging from placing the raw foods in the basket to preparing served portions. The closed-loop system increases productivity by 30% as claimed by Miso Robotics.
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Nosh by Euphotic Lab: Automated cooking robot
Healthy home food is just a NOSH away” – that’s the tagline of Euphotic Lab’s home cooking solution. What is interesting about Nosh is that its design has nothing like what we generally see in a robot chef. Usually, the robot chefs are large in shape bearing bulky robotic arms to move around stuff. Nosh is an automated robot chef featuring the design and size of a microwave oven.
Automation behind HATIL's most significant transformation, says Director Shafiqur Rahman
Introducing robotics and automation to HATIL’s manufacturing process was one of the most significant transformations since the furniture brand’s inception, according to HATIL’s Director Shafiqur Rahman.
“There was a time when a carpenter would be responsible for a specific product. If the carpenter was unwell or absent for personal reasons, the operation for that product would come to a halt,” he said.
“Now, if someone is unwell or on a personal leave, another person can finish the work with the help of automation at HATIL, making the process smoother and eliminating extra costs and delays,” Shafiqur Rahman told UNB during an exclusive interview.
HATIL employs a variety of advanced machines and automation to craft their furniture pieces at the factory. The use of technology ensures consistent design and size for every piece, which can be challenging to achieve with manual labor.
HATIL, Bangladesh's top furniture brand, is renowned for its quality and consistency, which has been crucial to the brand's enduring success. Shafiqur Rahman attributes this success to the brand's innovative approach, which incorporated advanced machinery and robotics into its production over the past decade.
“Previously, there was no plan in place to ensure an efficient manufacturing process,” Shafiqur said. “Often, it was seen that all parts for production were ready, but an important material was missing, causing the entire production process to come to a halt which, in turn, would add to the manufacturing cost.”
“Now, due to our streamlined operations, there is no backlog for any product,” he said.
Shafiqur came to be a part of his family’s decade-long wooden furniture business as an “intern.”
"Even though I formally joined HATIL's production unit in 2004, my association with the wood industry began well before that," he recalled.
Read more: HATIL’s ‘slim is smart’ has global appeal: Marketing Director Moshiur Rahman
10 Ways to Boost Team Productivity in Workplace
Team performance in offices and organisations plays a pivotal role in determining overall productivity. A highly productive team is an asset, and enhancing productivity is an ongoing endeavour. Let’s take a look into some innovative and cost-effective ways to empower your team while maintaining a harmonious and social work environment.
How to Increase the Efficiency of Your Team at Workplace
Encourage Open Dialogue
Open communication acts as a catalyst, driving the team towards greater efficiency, enhanced problem-solving capabilities, and an overall uplift in the working spirit. It is the secret ingredient for a thriving, successful team.
Encouraging open dialogue within the team is like infusing life into its veins. It is vital for fostering a truly productive environment. This practice invites team members to express their thoughts and concerns freely, creating a breeding ground for fresh and innovative solutions. It not only bolsters collaboration but also instils unity and belonging.
Read more: Antifragile Career: 10 ways to make your profession sustainable
Utilise Communication Tools
In today's fast-paced work environment, embracing these digital tools is one of the keys to maintaining seamless communication and fostering effective teamwork. Through these platforms, sharing information, coordinating tasks, and collaborating on projects become simplified and highly efficient.
Depending on the necessity and style of operations, office management can utilise digital platforms such as Slack, Microsoft Teams, or Trello to enable smooth team communication. These tools can actively create a collaborative work environment by providing a virtual space where team members can interact effortlessly. Thus, team leaders can ensure that team members remain closely connected and well-informed.
Define Clear Goals
Clarity takes precedence. It is necessary to define and communicate precise objectives to guarantee that every team member comprehends his or her roles and responsibilities. A team manager can implement SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) goals to set more attainable and motivating objective.
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These well-defined goals create a roadmap that guides the team's efforts. It makes the tasks and targets of each team member more accessible to grasp and accomplish. By adhering to SMART criteria, a team manager clarify expectations and also infuse a sense of purpose and direction. This propels the team towards greater accomplishments and motivation.
Bangladesh Bank hands over digital bank’s LoI to Nagad
The Bangladesh Bank has given a letter with its seal of approval to Nagad Digital Bank Ltd. for launching the country’s first full-fledged digital bank, thus opening up a new window of opportunities for the digital financial industry to thrive at a faster pace.
Bangladesh Bank Governor Abdur Rouf Talukdar handed over the Letter of Intent (LoI) to Tanvir A Mishuk, founder and managing director of Nagad Ltd., at the former’s office on Wednesday, reads a media release of Nagad Ltd.
Tanvir A Mishuk, founder and managing director of Nagad, said, “Today, we have received approval from the Bangladesh Bank to establish the country’s first digital bank. Nagad Digital Bank aims to serve those who face challenges visiting traditional banks for various reasons. We will bring banking services to people’s fingertips. This exemplifies another facet of financial inclusion for our nation.”
Bangladesh Bank approves 8 institutions to operate digital banks
“We aspire to provide single-digit loans to individuals outside conventional business sectors without collateral requirements. Furthermore, alongside introducing small savings schemes, the digital bank will address the day-to-day needs of common people. This endeavour will pave the way for an even more accessible journey towards a Smart Bangladesh,” he added.
He also emphasised that Nagad Digital Bank will promptly start its services on completion of all formalities and necessary preparations.
BREB bill payments now more convenient through Nagad
Central Bank Governor Abdur Rouf Talukdar extended his heartfelt wishes for Nagad Digital Bank Ltd. and hoped for its continued success.
Bangladesh Bank’s Deputy Governor Abu Farah Md. Nasser, Bangladesh Bank Director (BRPD) Mohammad Shahriar Siddiqui, Additional Director (BRPD) Md. Monirul Islam and Executive Director of Nagad Ltd. Niaz Morshed Elite were present among others.
Are we ready to embrace digital banks?
Nagad, a leading mobile financial service provider in Bangladesh, has rapidly amassed a substantial customer base of over 8.5 crore and claimed a notable market share through its innovative products and services.
Over the past three years, Nagad diligently pursued regulators for permission to introduce digital banking services in Bangladesh. With the greenlight from the Bangladesh Bank, Nagad Digital Bank Ltd. has already started its preparation to take banking services to people’s doorsteps, added the release.
Digital banks and digital Haldars : Is the Bangladesh Bank ready ?
Deal to force multinational companies to pay a 15% minimum tax is marred by loopholes, watchdog says
An ambitious 2021 agreement by more than 140 countries and territories to weed out tax havens and force multinational corporations to pay a minimum tax has been weakened by loopholes and will raise only a fraction of the revenue that was envisioned, a tax watchdog backed by the European Union has warned.
The landmark agreement, brokered by the Organization for Economic Cooperation and Development, set a minimum global corporate tax of 15%. The idea was to stop multinational corporations, among them Apple and Nike, from using accounting and legal maneuvers to shift earnings to low- or no-tax havens.
Those havens are typically places like Bermuda and the Cayman Islands where the companies actually do little or no business. The companies' maneuvers result in lost tax revenue of $100 billion to $240 billion a year, the OECD has said.
According to the report, being released Monday by the EU Tax Observatory, the agreement was expected to raise an amount equal to nearly 10% of global corporate tax revenue. Instead, because the plan has been weakened, it says the minimum tax will generate only half that — less than 5% of corporate tax revenue.
Much of the hoped-for revenue has been drained away by loopholes, some of them introduced as the OECD has been refining details of the agreement, which has yet to take effect. The watchdog group estimates that a 15% minimum tax could have raised roughly $270 billion in 2023. With the loopholes, it says, that figure drops to about $136 billion.
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Over the summer, the OECD agreed to delay for at least a year — until 2026 — a provision that would have let foreign countries impose additional taxes on U.S. multinational companies that failed to pay at least a 15% rate on their overseas earnings.
The EU Tax Observatory noted that even under the rules of the 2021 agreement, companies would maintain some ability to evade taxes. Companies that have tangible businesses — factories, warehouses, stores and offices — operating in a particular country, for example, could continue to pay a tax rate below 15%. That carveout, the EU Tax Observatory warned, could “give firms incentives to move production to countries with tax rates below 15%."
“This risks exacerbating the race-to-the-bottom with corporate income tax rates,” it said.
Another loophole lets countries offer tax credits, for such things as conducting research and investing in local factories, that can reduce companies’ tax rates below the 15% mark and still comply with the 2021 agreement.
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The Tax Observatory also expressed concern that the race by governments to grant tax breaks for green technologies to fight climate change “raises some of the same issues as standard tax competition. It depletes government revenues."
It also “risks increasing inequality by boosting the after-tax profits of shareholders, who tend to be towards the top of the income distribution,” it said.
The EU Tax Observatory isn't calling for an outright ban on green-technology subsidies. But it is urging governments to consider other policies to offset the financial gains to the wealthy from such tax breaks.
The group said that multinational corporations shifted $1 trillion — 35% of the profits they earned outside their home countries — to tax havens. American companies account for about 40% of such global profit shifting.
Last week, U.S. Treasury Secretary Janet Yellen said the minimum-tax agreement wouldn't be finalized until 2024.
Read: Sri Lanka pay off $200 million loan from Bangladesh with $4.5 million interest
“There are some matters that are important to the United States and other countries that remain unresolved — open issues that still must be resolved before the treaty can be signed,″ she said after meeting with European finance ministers.
The EU Tax Observatory is run by Gabriel Zucman, a leading economist and tax-and-inequality researcher of the Paris School of Economics and the University of California, Berkeley. Its report is based on the work of more than 100 researchers around the world who often work with government tax agencies. It draws upon new sources of data on multinational corporate finances and offshore wealth held by corporations.
Despite its criticisms of what has happened to the minimum tax, the EU Tax Observatory praised a separate effort to stop the wealthy from dodging taxes. In 2017, tax authorities around the world began exchanging taxpayer information from financial institutions to better enforce tax laws. The results, essentially ending bank secrecy, have been dramatic, the Tax Observatory found.
Until the “automatic information exchange,’’ was introduced, it said, virtually all wealth that the world’s rich held offshore went untaxed. Now, only 25% escapes taxes.
Still, the group says, “the effective tax rates of billionaires appear significantly lower than those of all other groups of the population’’ because the richest use tax-avoidance schemes. In the United States, it says, billionaires pay an effective average tax rate of 23%, including all taxes at all levels of government. The poorest 10% of Americans pay more – 25.6%.
The EU TAX Observatory is calling for a 2% global tax on billionaires' wealth, a proposal it says would raise $250 billion annually from fewer than 3,000 people.
Bangladesh Bank approves 8 institutions to operate digital banks
Bangladesh Bank (BB) has approved 8 institutions to form digital banks, for the first such bank in the country.
The central bank’s board of directors gave this approval in a meeting held on Sunday. Among the 8 institutions, Nagad Digital Bank and Kori Digital Bank got approval for the formation of full-fledged digital banks.
Read: Bangladesh Bank expects 2nd part of IMF loan in DecemberThe board has decided to allow three institutions to open digital banking wings. The remaining three institutions will get full digital bank permission, but not right now. After reviewing the services of the two institutions that have been granted permission, Nagad and Kori, the three may or may not get permission.The BB spokesperson Md Mazbaul Haque told UNB that the names of 9 institutions were presented to the board of directors. Among the 9 institutions, 8 were considered by the Board, while one was not as it was associated with an insurance company.
Read: Bangladesh Bank raises lending interest rate to 10.70% to fight inflationHe said that it has been decided to give a full bank to Naqd Digital Bank and Kori Digital Bank.
Apart from this, the meeting has decided to approve 10 banks forming the digital wing of ‘Digiten Digital Bank’, Bkash Digital Bank, and Bank Asia's Digital Bank, he said.Mezbaul Haque said that apart from this, the board has decided to give full digital banks to three more banks after reviewing the services of 6 months of launching two full digital banks (Nagad and Kori).Waiting in the wings with this provisional approval will be Smart Digital Bank, North East Digital Bank, and Japan-Bangla Digital Bank.
Garment workers propose Tk 20,400 as minimum salary, owners propose Tk 10,400
The representative of garment workers on Sunday proposed Tk 20,400 as minimum monthly salary while the owners representatives proposed increasing their minimum salary by Tk 2400 to Tk 10400.
President of Jatiya Garment Sramik Kormachari League (JGSKL) Sirajul Islam Rony, former president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and representative of garment owners Md Siddiqur Rahman submitted their proposals from their respective sides Liaqat Ali Mollah, Chairman of the Minimum Wage Board at his office in Palatan in the capital on Sunday.
After receiving the proposals from both sides, Liakat Ali said that the labour side is asking for Tk 20,400 and the owner side is asking for Tk 10400. “There is quite a gap in the proposals of both parties.”
Read: Bangladesh keen to export readymade garments to Nepal, seeks collaboration to unlock opportunities“The fifth meeting of the wage board will be held on November 1. The meeting will propose reducing the gap,” he said.
Former president of BGMEA Siddiqur Rahman said there is always a difference in the proposals of the workers and the owners.He said, “Keeping in mind the state of the global economy and the various contexts of industrial entrepreneurs, we have made this proposal.”
Read: Bangladesh working to secure strong position as high-value garments sourcing hub: BGMEA chiefHighlighting the rationale of the proposal, he said, that after the Covid-19 pandemic, the Russia-Ukraine war, and then the Israel-Hamas war started. All things considered, wages should be increased.However, “Since the Chairman has asked to reduce the wage proposal of the workers and owners, we will discuss with the owners as soon as possible and inform them in the next meeting,” he added.In addition, private research organization Center for Policy Dialogue (CPD) proposed to make the minimum salary Tk 17565 after evaluating the quality of life of the workers.
Daraz ‘11.11’ campaign: Countdown for the biggest sale of the year begins
Daraz Bangladesh, the country’s leading e-commerce marketplace is back for the 6th consecutive season with the much-awaited 11.11 campaign, the biggest sale of the year, taking place from November 11 to November 22, 2023.
The sneak peek for this grand celebration was unveiled during the ‘11.11 Press Conference 2023’ on October 22, at the Grand Ballroom of InterContinental Dhaka, said a press release.
With the proposition of ‘Kine Nao Shobee,’ Daraz 11.11 is all set to light up screens and fill shopping carts, emphasizing the dual delight of celebrations and savings. This year, customers can enjoy 20 lakh deals, massive discounts worth BDT 50 crore, free shipping, up to 70% discount, exclusive vouchers, flash sales and exciting giveaways to further enhance their shopping experience. The focus categories for 11.11 include electronics, home appliances, fashion items, home decor, daily and monthly essentials, regular groceries, mother and baby items, and beauty products.
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Daraz has handpicked and trained its sellers to meet the high standards for 11.11 this year. They have emphasized compliance and urged sellers to provide realistic offers that meet all the necessary regulations for customer satisfaction. Additionally, product authenticity has been ensured through the vigorous implementation of regulations. For example, a double money back guarantee is offered on Daraz Mall beauty products if they are found to be inauthentic. Additionally, delivery staff of Daraz have been specially trained to ensure top-notch service despite high demands.
Talat Rahim, chief Marketing Officer of Daraz Bangladesh, said, “Daraz 11.11 is more than just a sale; it’s a celebration of savings and a chance to score the most substantial deals of the year. Our teams have worked tirelessly to bring this grand event once again, offering the most significant discounts and unmatched shopping experiences. We hope our customers are prepared with their wish lists and are ready to join the celebration of shopping with us.”
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AHM Hasinul Quddus Rusho, Chief Corporate Affairs Officer (CCAO) of Daraz, said, “Daraz’s 11.11 sale has been a remarkable journey of growth and anticipation. This year, we are ready to unlock even bigger deals and a whole new shopping experience. We are expecting unprecedented business opportunities for our seller community by increasing our daily capacity by 200%, doubling the employment of riders for the campaign, with an extraordinary 8 times uplift on buyers response by transforming the shopping experience with shoppertainment. While doing so, we are dedicated to rigorous compliance across sellers selection, product authenticity and delivery time for a seamless customer experience during the biggest shopping fest in the country.”
Brands like Unilever Bangladesh, Parachute Advanced - Marico Bangladesh, Dettol – Reckitt Benckiser Bangladesh and Motion View have joined the celebration as Diamond Sponsors. Along with them, Homel, Ugreen, LouisWill, SKMEI, Harpic-Reckitt Benckiser Bangladesh and Godrej Household Products Bangladesh have joined as Gold Sponsors and Wiresto, Singer Bangladesh, Ogerio, WOW Skin Science, Skin Cafe Limited, RiBANA, Beardo-Marico Bangladesh and Veet- Reckitt Benckiser Bangladesh as Silver Sponsors.
Read: Turaag Active teams up with Daraz, Foodpanda to promote 'active lifestyle'
To ensure an easy cashless shopping experience Daraz has collaborated with payment partners like bKash and Nagad and bank partners like Bank Asia, Brac Bank, City Bank, Eastern Bank Limited (EBL), Daraz-EBL Co-brand, First Security Islami Bank, HSBC, Lanka Bangla Finance, NCC Bank, Pubali Bank, Prime Bank, Southeast Bank, and United Commercial Bank.
Indra Mani Pandey of India to join as next Secretary General of BIMSTEC soon
Indra Mani Pandey will be the next Secretary General of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation(BIMSTEC).
He is an Indian Foreign Service Officer of 1990 batch and is presently the Ambassador/Permanent Representative of India to the United Nations and other International Organisations in Geneva.
Also read: BIMSTEC Summit: High-profile Bangladesh business delegation to visit Thailand in November
"My immense gratitude to Prime Minister Narendra Modi and External Affairs Minister Dr S Jaishankar for entrusting me with prestigious and challenging assignment of Secretary General of BIMSTEC, the key Regional Organization in Bay of Bengal," said Pandey on Saturday.
This is the first time that an Indian will hold the position of the Secretary General of BIMSTEC, said the Indian Ministry of External Affairs.
Indra Mani Pandey will take up the assignment shortly.
Also read: PM to attend BIMSTEC Summit later this year in Thailand
Tenzin Lekphell, the outgoing BIMSTEC Secretary General, assumed office as the Secretary-General of BIMSTEC on 06 November 2020.
He is the third BIMSTEC Secretary-General.
Also read: Enhancing growth, promoting prosperity: BIMSTEC retreat held in Bangkok
Ambassador Pandey served as Additional Secretary in Ministry of External Affairs in-charge of Disarmament & International Security Affairs Division.
Earlier, Ambassador Pandey had served as Ambassador of India to the Sultanate of Oman. Before Muscat, he had served as Deputy Ambassador of India to France and Consul General of India at Guangzhou in China.
Ambassador Pandey has also served in various capacities at Indian Missions in Cairo (Egypt), Damascus (Syria), Islamabad (Pakistan), Kabul (Afghanistan) and Permanent Mission of India to Conference on Disarmament in Geneva (Switzerland).
During his earlier stints at Ministry of External Affairs, Government of India, in New Delhi, Ambassador Pandey had handled assignments in West Asia North Africa Division; Consular, Passport and Visa Division; Counter Terrorism Cell; Americas Division; Bangladesh, Sri Lanka, Maldives and Myanmar (BSM) Division.
During 1998-99, Ambassador Pandey attended Foreign Service Programme at Oxford University. In 2009, he attended 49th Course on National Security and Strategy, conducted by National Defence College of India.
Bangladesh receives $900 million in FDI in 2023: BIDA Executive Chairman
Bangladesh has received foreign investment of $900 million so far in calendar year 2023.
The Executive Chairman (acting) of Bangladesh Investment Development Authority (BIDA) Mohsina Yasmin said this in a press conference, held at a city hotel on Saturday.
The press conference was organized by the Foreign Investors Chambers of Commerce and Industry (FICCI) on the occasion of the two-day long Investment Expo-2023 which will be held from November 8-9 to celebrate its 60-year journey.
She said BIDA has been working with FICCI for a long time to promote FDI and improve the investment climate in the country. In continuation of this, we are delighted to be the strategic partner of this mega event of FICCI.
FICCI president Naser Ezaz Bijoy said, "The investment expo will be held at Radisson Blu Water Garden to commemorate the six decades anniversary of the chamber."
Prime Minister Sheikh Hasina has given her schedule to inaugurate the event as the chief guest, he said.
Bangladesh Investment Development Authority (BIDA) is the strategic partner of the investment expo.
Bijoy said, the key objective of this event is to highlight FICCI's contribution towards developing the country's economy since its inception and the transformative journey of our economy with policy support to ensure an enabling business environment.
BIDA’s Executive Director Yasmin said that a one-stop service has been launched to increase investment and solve investment-related problems of businessmen. Now 90 types of services are provided here. As a result, traders are freed from both harassment and cost.
She said BIDA has been working with FICCI for a long time to promote FDI and improve the investment climate in the country. In continuation of this, we are delighted to be the strategic partner of this mega event of FICCI.
She said that foreign investment is significant for the economy of any country and Bangladesh has always welcomed it.
“I believe this event will encourage existing foreign investors in the country and attract potential investors to invest in Bangladesh in the future,” she added.
Regarding the expo FICCI Board of Directors and Convenor of the event, Mahbub ur Rahman said, "The 2-day long investment expo will showcase economic resilience, competitiveness, and sectoral investment opportunities of the country within around 40 stalls."