McDonald's Hits All-Time High As Wall Street Cheers Replacement of Cashiers With Kiosks (cnbc.com)
McDonald's is expected to increase its sales via new digital ordering kiosks that will replace cashiers in 2,500 restaurants. As a result, the company's shares hit an all-time high, rallying 26 percent this year through Monday. CNBC reports: Andrew Charles from Cowen cited plans for the restaurant chain to roll out mobile ordering across 14,000 U.S. locations by the end of 2017. The technology upgrades, part of what McDonald's calls "Experience of the Future," includes digital ordering kiosks that will be offered in 2,500 restaurants by the end of the year and table delivery. "MCD is cultivating a digital platform through mobile ordering and Experience of the Future (EOTF), an in-store technological overhaul most conspicuous through kiosk ordering and table delivery," Charles wrote in a note to clients Tuesday. "Our analysis suggests efforts should bear fruit in 2018 with a combined 130 bps [basis points] contribution to U.S. comps [comparable sales]." He raised his 2018 U.S. same store sales growth estimate for the fast-food chain to 3 percent from 2 percent.
Running Windows XP Embedded, and connected to the internet for convenient maintenance. What could possibly go wrong?
Irony: Agile development has too much intertia to be abandoned now.
I could use some EXTRA BIG ASS FRIES right now.
Everyone else on Earth cheers as Wall Street replaced with algorithms capable of morality, compassion and empathy.
Everything's moving this direction. I remember a factory I worked at back in 2000 paid new hires $8 an hour and until recently it wasn't much more than that. Then they automated the hell out of everything with more robots than people and pay over $13 an hour to start. And this is in a town with a very low cost of living. If you can keep up with the bots, you can stay.
In a world of the blind, the one-eyed man is king--and the two-eyed man is a heretic.
Spent a month in Madrid and they have them there. Unless you eat at McDonalds way too much per person they are definitely a lot slower. However you can easily have 3 times as many as cashiers. The problem I see is similar to if you've ever seen a 65 year old try to use those touch screen Coke fountain drink machines that give you every combination on Earth. Old people won't like them. I also don't know that it eliminates all that many jobs. It seemed to me that they had just as many people, they were just expediting orders. Not saying they won't work, but questioning them being worthy of a stock boost.
Several fast food chains had those kiosks many years ago. They were ignored by customers who went to the counter anyway. This excites investors because they have never been in a fast food joint. They didn't see the failed system of the past. They have no clue how efficient current employees are. They think that laying off employees is the road to big profit.
Does anybody here see a future where food and drinks served by robots will be more attractive than what we have now? Isn't the personal service a large part of why we go out to eat and drink?
...omphaloskepsis often...
Ontario has a $15 minimum wage coming in. Last time I was at Starbucks, all the employees were panicking they're going to lose their jobs.
Well, now that machines do all the easy jobs, shouldn't the salary be $15/hr, since all the remaining low-wage jobs are probably harder?
Then we could get rid of all the tellers at banks!
Someone should make this.
Ontario has healthcare for all so even at $0 hr I still get a doctor and can walk into the ER and not face 100K bill.
The problem with universal basic income is that many of us will become an expense with zero return. A human's existence will become basically, from the standpoint of finances, a valueless detriment. We already see each other with suspicion especially if they are foreign or from a different race.
At some point someone will want to turn off the faucet. First they will make it easy, that anyone who commits a felony gets pushed off UBI. Most people are not felons so they would prefer the increased income from that. That sounds reasonable. Second, those who are recent immigrants will get kicked off it. Most people are not recent immigrants so they won't care. Next, it will be anyone without high school education. This will be under the guise of "if you are UBI you should at least get an education." Most people will benefit from kicking those people off so they won't object. Nextnit will be people having more than 2 kids. Eventually only an elite group may hold the means of production.
I'd rather live on welfare than have a minimum wage job.
That's primarily the reason why so many people are stuck on welfare. The only thing available to you to come off welfare is a minimum wage job, and it's getting worse and worse each year. As automation increases, even these jobs are gone and the welfare pit gets even deeper.
Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
Also $13/hr isn't much of a raise in 17 years.
Depends on where you live. In 2000, you could live pretty well on $10 an hour. You still can today.
It's worth mentioning that jobs at that factory average out to more than just 40 hours a week, due to the way shifts are structured. Adjusting the same to a 40 hour week would yield an hourly wage of just under $15. On top of that, they tend to have overtime here and there.
In a world of the blind, the one-eyed man is king--and the two-eyed man is a heretic.
We've had the kiosks in Canadian McDonald's for at least a year now and:
- It's a much nicer way to order, no lines and no shouting to be heard
- No worries that the clerk screws up your order
- There doesn't seem to be less staff behind the counter, just more of them filling orders rather than taking them
Overall, it works well enough that we prefer going to McDonald's.
When it comes to dining payment technology, it seems like Canada is light years away (as well as well into the future) than the US. Payment is made at the table with chip reading cards that take debit or credit and we have had the McDonald's kiosks and Canada's economy hasn't collapsed.
Yet when these things are talked about in the US, it seems like they are job killing ideas coming from the devil himself.
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When you can just order through an app?
I don't understand the desire to install all this infrastructure. A group of friends could scan the barcode on their table and all order separately and at the same time.
Also don't get why Chili's put in ziosk. Just use an app!
There's your $15/hour minimum wage. Certain groups wanted this, now here it is. Good luck kids getting that first job to learn how to have a job so you can go out and get a real one.
What's the alternative? No strikes, and they still get replaced with machines a couple years later?
The lower tiers (welfare and minimum wage) break even, the rich win exactly as TFA says. The middle class is financially ruined...
So liberal politics at its finest.
Ticket style, vending machine style, and probably kiosks too, who knows.
I'm not sure how long this has been common there but it seems like quite a while.
Random sample:
http://jpninfo.com/31417
I've had family who sorta tried (illness in the family made it impossible for the single parent to work) and you get about $200/mo if you're destitute with a note from a doctor saying you're a full time caregiver for a sick relative. There's no housing assistance to be had either. What little there is has 8 year wait lists.
I don't know if the dole ever existed in America, but I can sure as hell tell you it doesn't now. While I'm on the subject there's no such thing as welfare queens either. UBI would be nice, but I don't see us getting it because of the aforementioned welfare queens. That myth's got legs and no amount of evidence seems to kill it.
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Ask the student how important it is to have minimum wage jobs be paid a "living" wage.
Yup, society at present is very F'd up. Nope, communism/socialism won't fix anything, in fact it does the opposite.
-The wise argue that there are few absolutes, the fool argues that there are no probabilities.
Seriously, it is LONG past time for America to refocus on automating our lower-end work, like we used to. Oddly, starting with reagan and esp during W's time, we have been instead focused on using illegal labor to replace American labor. That has created one of the nightmares that America is suffering in.
A good example of robotic need would be animal husbandry for dairy and other farms. A lot of that labor is devoted to simple mucking out the stalls. That is easily automated.
I prefer the "u" in honour as it seems to be missing these days.
It seems that technology is little by little erasing every daily occasion of interaction with other humans that we still have. I don't want to sound like a luddite, but I must admit that I'm a bit worried that in the long run this process is going to make humans less and less able to interact with each other; which is a problem, because in the end we are social animals, we literally die without some form of exchange with other members of our species.
It should be mentioned that if you get a job, even the lowest paying job around, then you lose your welfare. So by getting a job, people get less money than they would on welfare.
"First they came for the slanderers and i said nothing."
And let's also point out that many brainy jobs don't have much market demand. For example, theoretical physicist. Or how about aerospace engineer. There are only so many jobs for those folks - that's why if you have a colleague with an engineering degree slinging code, it's probably an aerospace engineer.
Folks above cite economic theory "Broken Window Fallacy" and whatnot, but let's remember modern economic theory was created during the Industrial Revolution. We are now in a new Industrial Revolution or as some economists argue, Phase II of the Industrial Revolution that started in the late 18th century (1770s). Modern Economic theory is not wrong, but it is incomplete.
Economic theory today is where physics was before Faraday/Maxwell or something like that.
And back in the Industrial Revolution, the folks who displaced by automation were screwed. And that's when the riots started. We are seeing the same social unrest. Other reasons are blamed (immigrants or billionaires) but there are some serious economic changes happening in the USA and the World. And folks are being pushed DOWN the socioeconomic ladder. My standard of living has been declining since 2001. I'm working harder and longer but the rewards are declining - I'm working harder for less. And it's happening to everyone.
The owner and ruling classes are gonna have to buffer the transition or there is going to be some very nasty stuff happening. Venezuela today? Russia 1917?
Hey, I'm sure all those cashiers will retrain to be lawyers and doctors, thusly increasing their earning potential. Everybody wins! /S
the preceding comment is my own and in no way reflects the opinion of the Joint Chiefs of Staff