The Chinese company Netdragon Websoft had a turnover of more than two billion US dollars last year. What’s special about it? An AI currently occupies the post of CEO.
In August last year, NetDragon Websoft, a gaming conglomerate from China, appointed Tang Yu as the company’s CEO. However, Tang Yu is not a human person, but the name of an artificial intelligence. Since then, she has been responsible for all typical tasks. She analyzes market situations, evaluates risks and, based on these, makes decisions that are intended to advance the company.
And she seems to be doing it pretty well too. Since being appointed CEO in August 2022, NetDragon Websoft has increased its market value by more than 18 percent. By way of comparison, the Hong Kong Stock Exchange’s Hang Seng index fell by almost three percent in the same period.
Should all large companies be managed by an AI in the future? This could save companies a lot of money, at least in terms of salary. Tang Yu works 24 hours a day, around the clock. She doesn’t take breaks and she doesn’t get paid for her work. A CEO of a US top 500 company, on the other hand, earns around 16 million US dollars a year. As much as almost 400 average paid employees combined.
“We believe that AI is the future of business management,” says a press release from NetDragon Websoft. “Ms. Tang Yu’s appointment represents our commitment to truly leveraging the use of AI to transform the way we run our business and ultimately fuel our future strategic growth.” It remains to be seen whether AI can also achieve long-term success.
Quelle: The Hustle