Upcoming Skill Shifts in the Retail Industry
The retail sector has caught public attention recently, perhaps beginning with the hype around Amazon, which is often called to attention in the media. However, the phenomenon is not just noise but playing out in very real ways to many businesses and their employees.
McKinsey claims that “AI and smart automation will transform the retail experience as self-checkout machines replace cashiers, robots restock shelves, and machine learning improves prediction of customer demand.” In fact, in 2013, Amazon acquired the patent for “anticipatory shipping,” or, the ability to ship items to consumers before they order them.
In light of this transformation, many traditional retail positions will shift or be eliminated all together. Below is an examination of which roles are here to stay, which will go, and what skills will be valued across the board.
As evidenced above, jobs requiring manual labor and lower level cognitive skills, such as restocking shelves or cashiers, will decline in value into the future while jobs that involve higher level and interpersonal skills, such as technology development and customer service, will increase in value.
Where can Expercoin help? As seen above, technological skills are rated to increase as digital systems will need to be built out, and then maintained and improved upon for these businesses. Through AI-enabled personalized learning on the Expercoin platform, users will find upskilling less daunting and more approachable. In addition to this, the platform also presents an opportunity for users who already possess technological skills to monetize these skills while contributing to the digital economy through training others. Companies too can whitelabel Expercoin platform and use them to upskill their employees.
If you are interested in Expercoin, and its mission to build one of the world’s largest decentralized networks of marketplaces to advance learning and create jobs for the digital economy, click here.
If you would like to hear more about how the financial services industry may react to oncoming technological advancements, you can listen to episodes of Masters of Blockchain here.
