The world's biggest hedge fund is creating a secret algorithm to automate management

Ray Dalio speaking at the Delivering Alpha conference in New York on Sept. 13, 2016.
David A. Grogan | CNBC

Ray Dalio, founder of Bridgewater Associates, is leading a secret project that would automate most of the hedge fund's management, The Wall Street Journal reports.

The software engineering project, which Dalio has called "The Book of the Future," would send "GPS-style directions" for how employees should spend their time, down to whether they should make phone calls, according to the article.

The desire to automate the employee activities at and management decisions of a $160 billion hedge fund may seem like the plot of a science fiction novel. But for Dalio, it's a way to make his company work more efficiently.

This isn't the first unconventional leadership tactic Dalio has championed.

As part of Dalio's culture of radical transparency, which he blogs about, almost all meetings are recorded. Bridgewater employees can use an app to rate each other and identify their coworkers' mistakes.

"Through that extreme openness and a meritocracy of thought, we identify and solve problems better," Dalio writes on his blog.

The alleged plan at Bridgewater seems to support Elon Musk's theory that, in the near future, most of our jobs will be taken over by robots.

If robots take your job, the government might have to pay you to live