NEW YORK—Expressing confidence that the new technology wasn’t a threat, FinCorp Solutions CEO Charles Markham reportedly expressed relief Wednesday that artificial intelligence could never replace him if he already contributed nothing to the company. “I actually don’t do anything, so there’s nothing the computer can…
CEO would probably have to sign off on replacing the CEO. Or the shareholders could vote them out but that’s just as unlikely at any big company…CEOs have a lot of money and shareholders like rich people
Board of directors would replace the ceo. AI doesn’t have a risk of sexual harassment lawsuits or the need of a golden parachute. That sort of risk assessment equals real dollars for a board. There are already a few companies that have AI CEOs. This will most likely become common
I mean there’s also just the sheer financial savings of not having to pay an exorbitant CEO salary and package as well. That’s massive savings, and the company gets an office back to give to someone who needs it. There’s seriously no downsides for boards of directors to keep replacing CEOs with algorithms.
I can’t imagine “AI CEO” is free. Assuming there is a cost parallel of salary to AI subscription. The savings is in the risk/lawsuits etc.
I was imagining a one-off cost, but you’ve very likely right in that any software like this will be subscription-based. I guess my point still stands RE: salary package - while the base salary might end up being similar, you don’t have to pay an AI bonuses or any other tax avoidance crap like a company car etc.