Artificial intelligence (AI) is opening opportunities for retail giants to cut costs and boost efficiency, with many worried about the prospects of job cuts and mass layoffs.
The latest research by the Centre for Retail Research (CRR) highlighted astonishing job cuts in the retail sector, with nearly 15,000 jobs lost so far in 2023. The majority of these losses (11,689) were attributed to two retail giants – Tesco and Asda.
Amid the staggering number of job cuts, Amazon is actively rolling out its “Just Walk Out” technology, effectively eliminating check-out assistants. In 2016, DHL started using collaborative robots that can perform packing, kitting and other manual tasks.
