Since the debut of self-checkout machines in 1986, there has been a significant shift in the retail landscape, with over 217,000 terminals in operation globally. This advancement, while aiming to increase profitability and ease labor shortages, has also led to an estimated 35 to 40 percent reduction in entry-level jobs within a year of implementation. Meanwhile, since Gen Z is entering a labor market increasingly influenced by AI, rising unemployment rates among recent graduates highlight the challenges posed by the decreasing availability of entry-level positions, particularly in STEM fields.
The introduction of self-checkout machines in 1986 marked a significant shift in retail, aiming to increase profits and reduce labor costs as an alternative to hiring workers.
A recent report underscores the troubling trend of rising unemployment among college grads, as entry-level positions are increasingly displaced by advancements in artificial intelligence.
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