Appointing AI Robot as CEO, a Chinese company's Share Price Increases by 10%

In August , the Chinese gaming company NetDragon Websoft appointed an “AI-powered virtual humanoid robot” named Tang Yu as the CEO of its subsidiary, Fujian NetDragon Websoft. According to the company, Tang Yu’s appointment as CEO is intended to increase efficiency in decision-making, risk management, and ensure a fair and efficient workplace for employees. The appointment of Tang Yu is a clear sign of the company’s commitment to embracing AI for corporate management.

NetDragon’s chairman, Dejian Liu, said that Tang Yu’s appointment as CEO demonstrates the company’s commitment to embracing the use of AI for corporate management. “We believe AI is the future of corporate management, and our appointment of Ms. Tang Yu represents our commitment to truly embrace the use of AI to transform the way we operate our business and ultimately drive our future strategic growth,” he said in a press release. “We will continue to expand on our algorithms behind Tang Yu to build an open, interactive, and highly transparent management model as we gradually transform to a metaverse-based working community.”

NetDragon was founded in 1999 and has developed several popular multiplayer games, including Eudemons Online, Heroes Evolved, and Conquer Online. The company also created China’s first online gaming portal, 17173.com. Since the appointment of Tang Yu, NetDragon’s stock has outperformed the Hang Seng Index, which tracks the largest companies listed in Hong Kong. According to Google Finance, the company’s shares have increased by 10 percent over the past six months, and are now valued at approximately HKD 9 billion.

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While some experts argue that there are several jobs that could eventually be replaced by AI, Chief Executive was not among them. However, Alibaba founder Jack Ma predicted in 2017 that “a robot will likely be on the cover of Time magazine as the best CEO in 30 years,” as reported by CNN. Meanwhile, ChatGPT listed ten jobs that it thinks AI cannot replace, including social workers, healthcare professionals, teachers, artists, scientists, lawyers, writers, personal care workers, customer service representatives, and entrepreneurs. It should be noted that AI is still in its nascent stage, marked by pilots and prototypes, before industry-wide adoption is seen across the globe.

NetDragon’s decision to appoint an AI-powered virtual humanoid robot as the CEO of its subsidiary, Fujian NetDragon Websoft, has generated mixed reactions from the public and industry insiders alike. While the company believes that the appointment of Tang Yu as CEO will increase efficiency and transparency, there are still concerns about the impact of AI on jobs and the workforce. The decision highlights the potential benefits of AI in the workplace, and as the technology continues to evolve and become more advanced, it is likely that we will see more companies experimenting with AI-powered solutions in various aspects of their operations.

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