The one book every retailer must read

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



Much of what passes for innovation in the retail industry these days involves 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 Gates 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 affected businesses. A transcript of the conversation is available here.



Bill Gates also commented recently on the issue of long-term employment and structural changes. 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, in addition to the insights in Ford’s book, are quite chilling to anyone in the retail industry counting on the growth of consumer spending.