In a bid to curb market volatility and pre-empt supply gaps, the government is moving to launch an Artificial Intelligence (AI)-driven data analysis system to monitor and manage the supply of essential commodities, Commerce Minister Khandakar Abdul Muktadir announced on Tuesday.
Muktadir said the platform will integrate data from various sectors to ensure a steady flow of sensitive products.
The minister made these remarks at a meeting on e-commerce implementation held at the Ministry of Commerce conference room, presided over by Commerce Secretary Md Ataur Rahman Khan.
Muktadir emphasised that an integrated management system is now essential to analyse local production, import dependency, and the necessary coordination between the two.
Identifying supply shortages as a primary driver of price hikes, Muktadir mentioned the need for advance preparation to prevent sudden deficits at production or import sources.
“Whether the government will reduce prices by providing subsidies is a separate issue,” he added. “But our main goal is to ensure that market instability is not created due to a cessation of supply.”
Muktadir noted that for agricultural products like pulses and onions, it is vital to regularly analyse local production, seasonal deficits, and the export capacities of international markets.
The proposed AI platform will be designed to analyse 10 years of market data, including production, imports, exports, and international conditions, to facilitate rapid decision-making.
Muktadir pointed out that while current data collection requires lengthy inter-ministerial meetings and hours of discussion, AI can highlight potential situations in minutes.
“Once, it took an inter-ministerial meeting and hours of discussion to reach a decision based on a single piece of information. AI can highlight a potential situation in minutes by analysing 10 years of data,” he said.
The system is expected to predict when shortages might occur, identify the most suitable import sources, and determine the best timing for purchases based on global market prices.
The initiative will be a coordinated effort involving the Ministries of Agriculture, Food, and other relevant agencies, all of whom will have access to the information.
To ensure technology’s effectiveness, the government plans to build a comprehensive database using official records alongside international open-source and subscription-based data.
While acknowledging that developing the system would take time, Muktadir expressed confidence that it would eventually provide analysis faster and more effectively than human efforts. The primary objective, he concluded, is to strengthen market management and protect consumer interests through accurate, data-driven decisions.
The meeting also featured discussions on e-commerce sector development, technology-dependent market management, and future action plans.
