AI and Automation Offset Shrinking Restaurant Labor Pool

3 Min Read By MRM Staff

A shrinking labor pool is driving heightened interest in AI and automation among restaurant operators, according to data from TD Bank. In fact, 40 percent believe labor efficiency, training and scheduling are the top areas where AI can deliver meaningful improvements, followed by consumer data analysis/market trend prediction (34 percent) and customer experience/personalization (28 percent.)

“Most people would argue that AI application is just beginning to be fully realized,” Mark Wasilefsky, Head of TD Bank’s Restaurant Franchise Finance Group, told Modern Restaurant Management (MRM) magazine. “In the restaurant space, the ability to manage data collected through digital services and delivery platforms will be a significant AI use case."

Labor management will also be a key area for the adaptation of AI, helping restaurants become more efficient, he noted. 

“Retention of talent has always been critical and it will be increasingly imperative to maintain managerial staff who…