Hong Kong-based gaming company appoints AI bot as new CEO

In some scenarios, you can replace humans with AI. Before the AI chatbot ChatGPT became a hit, a gaming company based out of Hong Kong appointed an AI bot as its new CEO. The AI bot named Tang Yu became the CEO of the NetDragon Websoft company. As a result, the company not only saw a massive rally in the stock market but also outperformed the Hong Kong stock market. The company said the AI chatbot was designated to lead the use of AI to transform corporate management and bring operational efficiency to a new level.

Tang Yu, the AI CEO of game company NetDragon Websoft, was assigned typical company tasks that included reviewing high-level analytics, assessing risk, making leadership decisions, and boosting an efficient workplace. Tang Yu was the first CEO of a firm that worked 24/7 without compensation. In naming the AI chatbot as CEO, the company said it would be crucial in developing talent and ensuring a remote and efficient workplace for all employees.

NetDragon Websoft said in a blog post, "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 the 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."

The AI bot helped the company generate revenue. The company reportedly outperformed the Hang Seng Index, which tracks the most prominent Hong Kong-listed companies. According to The Hustle, which tracks the performance of companies on the stock market, the company's shares rose 10 per cent compared to their value six months before. This growth in value can be attributed to several factors, including increased demand for the company's products or services, positive news about the company or improved financial performance. The company's current market capitalisation is approximately HK$9 billion or $1.1 billion.

Speaking to AI CEO Dejian Liu, Chairman of NetDragon, said the company believes AI (Artificial Intelligence) is the fate of corporate management. They are determined to embrace AI to transform how their businesses operate. They appointed Ms Tang Yu to represent their commitment to this goal.