Last August, Hong Kong-based gaming firm NetDragon Websoft appointed an AI bot as the CEO of its subsidiary. Since then, the company has been outperforming Hong Kong’s stock market.
AI developments have been a hot topic of discussion lately, with everyone from researchers and industry experts to the general public taking notice of the latest breakthroughs in the field. Especially, ChatGPT, an AI model capable of interacting in a conversational way, which was released in December last year, generated a significant buzz.
However, even before ChatGPT became a sensation, Hong Kong-based gaming firm NetDragon Websoft made waves with its unusual use of AI technology in operations – the company had appointed an AI bot named Tang Yu as the new CEO of its subsidiary, Fujian NetDragon Websoft.
As reported by The Hustle, NetDragon's stock has since been outperforming the Hang Seng Index, which tracks the largest companies listed in Hong Kong. Over the past six months, the company's shares have increased by 10%, and its total valuation, according to Google Finance, is approximately HK$9 billion ($1.1 billion).
When announcing this initiative, NetDragon stated that the bot would enhance decision-making and risk management efficiency while also ensuring "a fair and efficient workplace for all employees."
According to the company, the AI CEO is responsible for typical company duties such as analyzing high-level data, making leadership decisions, evaluating risks, and promoting a productive work environment. Additionally, Tang Yu is the first CEO of a company who worked around the clock without receiving compensation.
"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," NetDragon chairman Dr. Dejian Liu said at the time of the announcement.
NetDragon was established in 1999. It developed multiple multiplayer games such as Eudemons Online, Heroes Evolved, and Conquer Online and created China's first online gaming portal, 17173.com.
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