We are living in some of the fastest changing times in the history of humankind. Job security is becoming a privilege of the past and household debt is at an all-time high.
Bankruptcy rates are increasing and even the largest companies are failing and either filing for bankruptcy or closing 100’s of stores.
Here is a partial list of prominent companies that have either entered bankruptcy protection or closed stores.
Abercrombie & Fitch, Aerosoles, American Apparel, Bebe, Bon-Ton Stores Inc., The Children’s Place, Guess, Gymboree, J.C. Penney, Macy’s, Payless, RadioShack, Sears/Kmart and Toys R Us.
None have adapted to the new culture of a self-serving society that is shifting to buy online instead. Amazon has taken around 50% of the market and has toppled not just big business but hundreds of thousands of mom and pop type small businesses. Very sad.
Add the millions of chat bots that are programmed to prompt questions and respond to online visitors, the need for real humans is declining rapidly.
Artificial Intelligence is becoming so popular it’s said that in the next five years over 200 million jobs are at stake. That’s because these Bots can replace call center staff and answer every question required.