Retail roles expected to be replaced by technology in the UK by 2030
According to a recent study, the rapid development in artificial intelligence and automation technologies is expected to replace a significant portion of roles across the retail industry in the United Kingdom (UK) by 2030. Retail technologies are projected to scrap 49 percent of bookkeeping and payroll roles within the decade. Programmers and software development professionals, on the other hand, will not be diminished according to predictions.
Retail technology outlook Retailers in different countries agree that the need for digital transformation has increased in the retail sector. In 2021, over 100 billion U.S. dollars was invested in retail technology financing deals worldwide, a record amount considering the funding momentum observed in the past seven years.
The rise of self-checkout
The projected 46 percent reduction of cashier roles in retail could be explained further by the rapid increase in self-checkout technologies adopted by retailers worldwide. This is not surprising given the fact that a considerable number of consumers all around the world are favoring the self-checkout option while shopping. Self-checkout systems had a global market value of over two and a half billion U.S. dollars in 2019 and is expected to grow further into the future.Retail technology outlook Retailers in different countries agree that the need for digital transformation has increased in the retail sector. In 2021, over 100 billion U.S. dollars was invested in retail technology financing deals worldwide, a record amount considering the funding momentum observed in the past seven years.
