McDonald's Unveils $8.5 Billion Modernization Plan

McDonald's plans to spend $8.5 billion over the next decade to modernize its restaurants globally. The company aims to improve restaurant productivity and automate tasks such as inventory management and scheduling, according to Chairman and CEO Chris Kempczinski.

The fast-food giant wants to grab share from competitors and create more demand, said Kempczinski at a meeting with investors in Chicago. To achieve this, McDonald's will introduce hand-breaded chicken, grilled chicken sandwiches and wraps, as well as experiment with products like egg bites and bowls.

McDonald's research indicates that 60 million Americans are actively seeking more protein in their diet. Skye Anderson, the president of McDonald's USA, said this is an opportunity for the company to give customers more reasons to choose McDonald's.

The restaurant modernizations include lockers to handle delivery orders, bigger play areas and improved kitchen layouts. McDonald's will also deploy its ArchIQ system, developed with Google, which improves order accuracy with artificial intelligence and automates tasks like inventory management and scheduling.