Turbotodd

Ruminations on tech, the digital media, and some golf thrown in for good measure.

Retail Therapy

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The retail industry makeover continues.

According to various reports, clothing retailer Forever 21, Inc. may or may not file for Chapter 1 bankruptcy protection as early as Sunday. And according to a WSJ report could close some 700 of its stores in any case.

Yet another online retail outfit, Shopify, has acquired another e-commerce automation startup, 6 River Systems, for some $450M.

6 River System uses its Chuck autonomous vehicles that can move packages around warehouses, and according to VentureBeat, believes those robots can increase the speed and reliability of its warehouse operations “by empowering on-site associates with daily tasks, including inventory replenishment, picking, sorting, and packing.”

Considering the tight labor market, these AI and automation deals I’ve recently written about make a lot of sense. If companies can’t find employees to take those jobs, they hire robots and increase automation. But what happens in a down labor market?

See a recent report published by IBM’s Institute for Business Value: As many as 120M workers from the world’s largest economies may need to be retrained as a result of AI and automation. Summary of that post here. 

Written by turbotodd

September 13, 2019 at 12:13 pm

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