Automation is increasingly prevalent in the modern business landscape, yet the role of the CEO remains largely untouched by this trend. This is despite the fact that CEOs are one of the most costly aspects of a company, with their high salaries and benefits packages. A possible solution to this could be to automate the role of the CEO, reducing costs and potentially increasing efficiency.
The idea is not as far-fetched as it may seem. Many tasks performed by CEOs, such as analysing data and making strategic decisions, could be done by artificial intelligence. A study by the Massachusetts Institute of Technology (MIT) found that machine learning algorithms could perform better than humans in certain decision-making tasks.
However, there are also arguments against CEO automation. Critics argue that a CEO’s role involves more than just decision-making and data analysis. They must also manage relationships, inspire teams, and handle crises – all tasks that require a human touch.
The debate around CEO automation is complex and multifaceted. While there are clear potential benefits, such as cost savings and increased efficiency, there are also significant challenges and potential risks to consider. As such, it remains to be seen whether the role of the CEO will ever be fully automated.
Go to source article: https://www.newstatesman.com/business/companies/2021/04/ceos-are-hugely-expensive-why-not-automate-them