New Delhi: Last year, NetDragon Websoft, a Hong Kong-based online gaming firm with annual revenue of around $2.1 billion, hired a new CEO – Ms Tang Yu – at its flagship subsidiary. Since his appointment, the company’s shares have outperformed the Hong Kong stock market. reports In business news website, To struggle,
The CEO worked hard, was available 24/7, didn’t get paid and didn’t even sleep! While on the surface this may sound like hiring a good talent for free, the catch is that u are not human.
Last August, NetDragon Websoft announced Yu, an AI-powered virtual humanoid robot, has been appointed as the rotating CEO of its flagship subsidiary, Fujian NetDragon WebSoft Company.
You, To struggle Said was responsible for all of the typical duties of a company head: reviewing high-level analytics, making leadership decisions, assessing risks, and fostering an efficient workplace.
In a press statement issued last year, the company said that U will streamline process flows, enhance the quality of work tasks and improve the speed of execution.
“Tang Yu will also serve as a real-time data hub and analytical tool to enable rational decision-making in daily operations, as well as a more effective risk management system. In addition, Tang Yu will provide opportunities for talent development and all It is expected to play a key role in ensuring a fair and efficient workplace for employees,” the statement read.
NetDragon President Dajian Liu then said that Yu’s appointment “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”. Gives speed.”
“Looking forward, we will continue to expand our algorithms behind Tang Yu to create an open, interactive and highly transparent management model as we gradually transform into a metaverse-based working community, allowing us to access a broad base of talents. Will enable us to attract more people from across the world and put us in a position to achieve bigger goals,” he had said.
So far, being an AI CEO hasn’t had any adverse consequences for NetDragon Websoft. In fact, the gaming company has outperformed the Hong Kong stock market since Yu’s appointment. While the Hang Seng index declined by 2.8 per cent between August 2022 and February 2023, the company’s share price rose by over 18 per cent during the period.
To struggle Also advocated replacing the CEO with an AI system. It was noted that the average CEO salary at Fortune 500 firms was now approximately $16 million per year.
“The incentives for workplace automation are largely financial. So why not start by replacing the highest-paid employee of them all – the CEO?”
The report also states that the average salary of CEOs has increased by 1,460% over the past 45 years, while the average salary of employees has increased by only 18%. “As a result, today’s average CEO is paid as much as 399 average employees,” the report said.
“At larger companies, this ratio is often several times higher: for example, in 2021, Amazon CEO Andy Jassy received a package of $213m – equivalent to the collective salary of 6,474 Amazon employees. The four fulfillment centers have enough staff to operate fully,” To struggle commented.
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