Industrialists, entrepreneurs stress need to boost Nepali businesses' competitiveness with use of AI

KATHMANDU: Industrialists and entrepreneurs emphasised the need to boost the competitiveness of Nepali businesses through the use of artificial intelligence (AI) at a programme titled 'Industry Deep Dive: AI for Nepalese Priority Sectors' in Kathmandu on Tuesday.

The one-day orientation programme was organised by Federation of Nepalese Chambers of Commerce and Industry (FNCCI) at the FNCCI Secretariat in Teku in collaboration with the US Embassy in Nepal. FNCCI Vice President Prabal Jung Pandey said AI is a vital tool to increase productivity, competitiveness and innovation across Nepal's private sector.

He said Nepal must accelerate technology-based economic development through the responsible use of AI, digital infrastructure, skill development and policy reform, and urged collaboration among the government, private sector and international partners to build an AI ecosystem tailored to the country's needs.

"In Nepal, a growing interest in AI is being seen among young entrepreneurs, startups and innovators. The possibilities for using AI are expanding in customer service, digital payments, fintech, smart agriculture, tourism promotion, healthcare and education. If appropriate policies, digital infrastructure, skill development and investment are ensured, Nepali youth can be made not just consumers of technology, but creators of AI-based solutions," Vice President Pandey said.

David Swicegood, founder and chief AI officer of the American company 7Lift.ai, spoke on commercial applications of AI, global practices and the potential and challenges within Nepal's priority sectors, noting that skills can be built through continuous practical application of AI technologies.

FNCCI Central Member Juna Mathema said that in the current era of digital transformation, AI has become a necessity rather than just an opportunity for the private sector, and that investing in innovation, research and digital skill development while integrating technology into Nepalese industries will enhance the nation's overall economic competitiveness.

Participants, including industrialists, business leaders and sector representatives, raised questions on practical AI usage, implementation challenges, data management, market expansion, customer service and production management. The programme was attended by FNCCI office-bearers, executive committee members, commodity association representatives, entrepreneurs and information technology stakeholders.