The one book every retailer must read

Even if overuse of the words disruption and transformation hadn’t diluted their meaning, they would still come up short when describing global economy altering trend envisioned by some that could have a devastating impact on consumer spending.



Much of what passes for innovation in the retail industry these days relates to a mobile device and new ways to access information, connect with others or control devices. Being able to order a pizza by texting an emoji or to view the location of an approaching Uber driver on a smart phone have certainly disrupted markets and transformed behaviors. However, that’s nothing compared to changes on the horizon envisioned by none other than Microsoft founder Bill Gate and the author of a new book by Martin Ford titled, "Rise of the Robots: Technology and the Threat of a Jobless Future."



Ironically, the amazing technologies that have changed so many aspects of daily life, also threaten to displace millions and millions of workers. In Rise of the Robots, Ford offers a detailed look at the ways in which technology and innovation will displace workers. He appeared recently on Wharton Business Radio on SiriusXM channel 111 to talk about how the robot revolution has affect businesses. A transcript of the conversation is available here.



Also commenting recently on the issue of long-term employment and structural changes, was Bill Gates. On a Feb. 21 episode of Charlie Rose, Gates and Rose engaged in a wide ranging discussion, but around the 27 minute mark the conversation turned to artificial intelligence and labor substitution.



Gates comments, as well as the insights in Ford’s book are quite chilling to anyone in the retail industry counting on consumer spending to growth.