Gaming company appoints AI bot as new CEO, sees record-breaking growth in stock market

Can AI replace humans? Well, in some scenarios, it certainly can replace them. Much before AI chatbot ChatGPT became a sensation, a Hong Kong-based gaming company appointed an AI bot as the new CEO. The AI bot named Tang Yu was made the CEO of the company NetDragon Websoft. Not only did the company see a massive uptick in the stock market, it outperformed Hong Kong’s stock market. The company said that the AI chatbot was appointed to pioneer the use of AI to transform corporate management and leapfrog operational efficiency to a new level.

Tang Yu, the AI CEO of the gaming company NetDragon Websoft, was assigned typical duties of the company that included reviewing high-level analytics, making leadership decisions, assessing risks, and fostering an efficient workplace. Tang Yu was the first CEO of a company that worked 24*7, without receiving compensation. The company said while appointing the AI chatbot as CEO that it will play a crucial role in the development of talents and ensuring a far and efficient workplace for all employees.

“Tang Yu’s appointment highlights the Company’s “AI + management” strategy and represents a major milestone of the Company towards being a “Metaverse organization”. Tang Yu will streamline process flow, enhance the quality of work tasks, and improve speed of execution. Tang Yu will also serve as a real-time data hub and analytical tool to support rational decision-making in daily operations, as well as to enable a more effective risk management system,” NetDragon Websoft said in a blog post.

Interestingly, the AI bot helped the company in generating revenue. As per reports, the company outperformed the Hang Seng Index, which tracks the biggest companies listed in Hong Kong.

As per The Hustle, which tracks performance of companies in stock market, the company’s shares have increased by 10 per cent compared to their value six months ago.This increase in value can be attributed to various factors, such as increased demand for the company’s products or services, improved financial performance, or positive news about the company and the company’s current market capitalization is approximately HK$9 billion or $1.1 billion.

Talking about the AI CEO, Dejian Liu, Chairman of NetDragon said that the company believes that Artificial Intelligence (AI) is the future of corporate management and they are committed to embracing the use of AI to transform the way they operate their business. They have appointed Ms. Tang Yu to represent their commitment to this goal. The person goes on to say that they plan to continue expanding their algorithms behind Tang Yu to build an open, interactive, and transparent management model. They also mention their plans to transform to a metaverse-based working community, which will enable them to attract a broader base of talents worldwide and achieve bigger goals.

Source: GWFM Research & Study