Robots Set to Take Over UK Retail Jobs, New Skills Required

  • UK retail could lose over half a million jobs to robots in the next five years
  • 44% of IT leaders prioritize automation to improve efficiencies
  • Two-thirds (135,000) cashier jobs at high risk of automation
  • John Lewis Partnership trials robot produce harvesting for Waitrose stores
  • 67% of UK retail IT leaders believe new jobs will compensate for job losses to AI/automation
  • Retail sector undergoing massive change with online commerce growth

A recent Harvey Nash/KPMG CIO Survey reveals that the UK retail sector is set to lose over half a million jobs due to automation in the next five years. IT leaders report that automating the industry is a top priority for their boards. The Office for National Statistics estimates two-thirds of cashier jobs are at high risk, while John Lewis Partnership trials robot produce harvesting for its stores. Despite job losses, 67% of UK retail IT leaders believe new roles will emerge requiring digital skills. CEO Albert Ellis highlights the need to attract and develop talent for this automated world.

Factuality Level: 8
Factuality Justification: The article is based on a credible source (the Harvey Nash/KPMG CIO Survey) and provides relevant information about the impact of automation in the retail sector. It also includes quotes from an expert in the field (Albert Ellis). However, it could provide more context or examples to support the claim that new jobs will compensate for job losses due to AI/automation.
Noise Level: 4
Noise Justification: The article provides relevant information about the impact of automation on UK retail jobs and mentions a recent study by Harvey Nash/KPMG CIO Survey. It also discusses the potential for new job growth in digital skills. However, it could benefit from more in-depth analysis or evidence to support its claims and explore the consequences for those affected by these changes.
Financial Relevance: Yes
Financial Markets Impacted: UK retail sector
Financial Rating Justification: The article discusses the impact of automation on the UK retail sector, which can affect companies’ operations and workforce, potentially leading to job losses and changes in the industry. This has financial implications for businesses in the sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk