They appoint an artificial intelligence CEO and it increases the value of the company by 10%

In the first six months of management, AI has driven up the value of shares at zero cost

Last year, during the month of August, the Chinese company NetDragon Websoft, specialized in multiplayer games and mobile applications, appointed as CEO (or executive director) an artificial intelligence at one of its main subsidiaries, Fujian NetDragon Websoft. Six months later, the management of this AI made the company grow by 10% on the stock market.

Artificial intelligence and especially ChatGPT are coming to produce a type of anxiety, ‘AI-nxiety’, which is leading thousands of people to think that this technology will replace thousands of jobs all types. Something like Henry Ford’s assembly line, but on a grand scale. Claims such as the one from the World Economic Forum, which in 2020 predicted that approximately 85 million jobs could be displaced by 2025, acknowledging that automation in the workforce has increased at a faster rate than anticipated, are hardly reassuring. While it was initially taken for granted that the heavier and mechanical workChatGPT, Midjourney, DALL-E or Stable Diffusion came to show that the arts, literature and even programming are also a matter of machines.

Now, the artificial intelligence Tang Yu, the CEO appointed by NetDragon, comes to instill fear in the upper echelons as In his first six months in office, he has managed to increase 10% in the stock market of Hong Kong raising the value of the company, they are even outperforming the Hong Kong Stock Exchange in general, according to the data shown in The Hustle.

Although the AI ​​in positions of power comes from afar. Already in 2018, a robot was presented to the Tokyo ward mayor’s office to end corruption. In fact, this robot, called Michihito Matsuda, managed to come in third place with 4,013 votes. A scenario that was already anticipated by the anime series ‘Evangelion’, where decision-making rests with MAGI, a superintelligence that governs Tokyo-3.

“We believe that the AI is the future of corporate managementand our appointment of Ms. Tang Yu represents our commitment to truly embrace the use of artificial intelligence to transform the way we we operate our business and ultimately drive our future strategic growth,” NetDragon Chairman Dejian Liu explained in a press release last August.

“We will continue to expand our algorithms behind Tang Yu to build an open, interactive, and highly transparent management model as we gradually transform into a metaverse-based work community, allowing us to attract a much broader base of talent across everyone and put us in a position to achieve bigger goals “he adds in the document.

Impeccable leadership at zero cost

At NetDragon, whose annual revenue is close to 2.1 billion dollars (around 1.95 billion euros), AI Tang Yu is responsible for all typical functions of a front man of the companyreviews high-level analysis, makes leadership decisions, assesses risks, and fosters an efficient workplace.

The difference is that she doesn’t need to rest, she doesn’t have a family to take care of, and she doesn’t get sick. works 24 hours a day, 7 days a weekYou don’t need to sleep, eat, or have a coffee break, and your salary has nothing to do with the fees that equivalent positions usually charge. Tang Yu receives zero euros gross per year for her work.

Keep in mind that in ‘Fortune 500’ companies (the five hundred largest US companies) the average salary for CEOs is now around $16 million per year (more than €14 million). In fact, in the last 45 years, the average salary of CEOs has increased by 1,460% while that of workers has only increased by 18%. The result is that an executive director receives on average the equivalent of what 399 workers earn.

The larger the company, the higher this difference is. For example, in 2021, the CEO of Amazon, Andy Jassey, received a package worth 213 million dollars (more than 197 million euros), equivalent to collective salary of some 6,474 Amazon employees. A salary force that will be enough to fully manage four logistics centers of the company. Tang Yu’s successful management for now is unique, but who knows if when accounting for the cost of maintaining senior human positions, other large companies choose to imitate NetDragon’s model.

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