Dante Vitoria On Automation & the Retail Industry
Why Artificial Intelligence is the Future
The World’s top retailers are in the process of utilizing automated technology to reduce costs and increase productivity. However, given the prominence of innovative checkout systems, retailers are at risk of losing their jobs as the transition will likely lead to a significant reduction in labor. According to a recent survey by Cornerstone Capital, an estimated 6 to 7.5 million retail jobs will be lost in upcoming years. Dante Michael Anthony Vitoria, Founder, and CEO of the Vitoria Group located in New York City states that this seemingly competitive advantage may require individuals to alter their skill set long-term if they wish to remain employed. Ultimately, the automation of various retail tasks will have a significant impact on future employment opportunities in the industry.
A Loss of Jobs
It is inevitable that the changing retail landscape will have a tremendous impact on labor. Dante Vitoria states that Costco is the fourth largest pizza chain in the United States as the company utilizes a sauce-dispensing robot rather than relying on employees to assemble food products. This shift towards automation has the potential to render a significant amount of tasks as redundant.
In 2018, Amazon founded the first ever automated grocery store, utilizing advanced technology so individuals could avoid checkout lines. Through the use of artificial intelligence, customers can now scan an item they wish to buy on a mobile application and exit the building. With the development of innovative technology, cashier jobs may become obsolete due to advancements in automation.
New Skill Sets & Preparing for Change
According to some experts, the objective of transitioning to automated checkouts is not to eliminate labor and employees will continue to play a valuable role in the retail sector. Likewise, there are various routes large retailers could take when choosing to automate their services. For example, if retailers choose to use technology in combination with workers, many companies could avoid layoffs and preserve jobs long-term. However, most analysts believe that retailers will utilize the technology to reduce labor costs.
Finding a Balance
Dante Vitoria believes that the recent innovations in the retail industry put thousands of individuals at risk of becoming stranded workers. According to Cornerstone Capital’s report, approximately 16 million Americans work in the retail industry which represents ten percent of the workforce. Ultimately, retailers that take the initiative to develop strategies to balance technological advancements with current employees through training and skill development programs, will save thousands of individuals from having to find an alternate line of work.
