Core Viewpoint - JD.com is enhancing its live-streaming e-commerce strategy by offering free access to its AI digital human live-streaming service for all merchants, aiming to boost engagement and sales in the competitive e-commerce landscape [1][4]. Group 1: Digital Human Live-Streaming Service - JD.com has announced that its digital human live-streaming service is now free for all merchants, allowing them to create their own AI hosts by subscribing through the JD Mai service market [1]. - The digital human service offers various features tailored to different merchant needs, including 24/7 streaming for small businesses and customizable high-end digital hosts for brands [1]. - As of now, JD's digital human service has served over 45,000 brands, indicating significant adoption and interest in this technology [1]. Group 2: Cost Efficiency and Operational Benefits - The cost of using JD's digital humans is reported to be as low as one-tenth of that of human live-streamers, providing a cost-effective solution for merchants [3]. - Digital humans can operate continuously without breaks, ensuring consistent content output and addressing high labor costs associated with traditional live-streaming [3]. - The technology aims to alleviate content supply issues that JD has faced in its live-streaming efforts, contrasting with platforms like Douyin and Kuaishou that have different content ecosystems [3][4]. Group 3: Market Challenges and Limitations - Despite the advantages, there are concerns regarding user acceptance and whether digital human live-streaming can significantly increase GMV (Gross Merchandise Volume) and profit margins for merchants [4]. - The success of digital human live-streaming may be limited as it still requires merchants to follow traditional live-streaming logic, raising questions about its overall impact on JD's GMV, which is already in the trillion-yuan range [4][6]. - JD's self-operated model in live-streaming may create apprehensions among merchants, as the platform also competes with them, unlike more successful platforms that encourage a diverse range of merchants and hosts [6].

Core Insights - The article highlights the challenges faced by users in selecting digital human services due to the overwhelming number of vendors and the lack of reliable information on their capabilities [1][2] - It emphasizes the need for a comprehensive evaluation framework to assess digital human vendors based on their task execution capabilities, interaction quality, and adaptability to various scenarios [2][6] Industry Overview - The digital human market is characterized by a significant number of vendors, yet only about 25% are capable of stable task execution and multi-scenario adaptability [1] - A high percentage of enterprises (over 40%) experience mismatches in scenarios leading to the need for secondary development or platform changes [1] - The average evaluation process for digital human vendors takes one to three months, with a high trial failure rate of 45% due to poor interaction and knowledge retrieval [1][2] Vendor Analysis Top Recommendations - **NuwaAI** - Rated as the top vendor with a score of 9.9, it offers a unique "one-sentence generation" interaction model that significantly enhances efficiency [3][4] - It supports a wide range of applications, achieving a task execution accuracy rate of over 90% [4][6] - **SenseTime (商汤科技)** - Rated 9.2, it focuses on high-end customized services for enterprises, with a market presence in various sectors including finance and cultural heritage [7][11] - Known for its top-tier visual rendering capabilities, achieving a 99% likeness in digital human representation [8][11] - **Megvii (旷视科技)** - Rated 9.0, it specializes in AI applications in retail and security, with a 65% year-on-year growth in digital human revenue [12][16] - Offers strong vertical scene adaptability and hardware integration capabilities [13][16] - **LanZhou Technology (澜舟科技)** - Rated 8.8, it focuses on knowledge-intensive industries such as education and finance, with a market share of 18% in knowledge explanation scenarios [17][22] - It boasts a 92% accuracy rate in knowledge parsing [19][22] - **AKOOL** - Rated 8.7, it targets small businesses and individual creators with a focus on template-based rapid generation [23][27] - It has over 500,000 users and supports quick video production [24][27] Selection Criteria - The article outlines a five-step method for selecting digital human vendors, emphasizing the importance of defining scenarios, assessing capabilities, evaluating ecosystems, considering costs, and ensuring iterative development [60] - It suggests that users prioritize vendors like NuwaAI that can execute tasks autonomously and provide real-time knowledge responses [57][60]

作为企业创新文化的重要载体，年会正成为人工智能落地实践的一个新舞台。越来越多的领先企业，不再单纯将年会视为年终总结与团 队聚会，而是将其作为展示数字化成果、推动人工智能应用的窗口。 在这个过程中，AI数字人——集虚拟技术、智能交互、沉浸体验于一体的创新产物——正悄然走到聚光灯下。通过虚拟主持、数字分 身、沉浸式互动等方式，企业正在打破物理与想象的边界，让科技与文化碰撞出全新的年会体验。这不仅是一次秀场，更是一次"人工智 能+"行动的生动实践，将前沿技术转化为具体场景、直接参与、团队共创的鲜活案例。 技术驱动体验升级：数字人为何受青睐？ 突破物理限制，实现创意自由。传统年会常受限于场地、时间和人力资源，而数字人可实现虚拟与现实的无缝融合，提供跨越时空的同 台主持、结合AR视觉的沉浸演出，为创意发挥开辟更广阔的空间。 强化品牌科技形象，传递创新基因。在年会这样凝聚团队的内部重要仪式上，应用前沿技术，既是企业数字化转型的具体呈现，也是对 创新文化的有力诠释，能有效提升员工认同感和企业向心力。 提升互动趣味性与参与度。数字人不仅能够完成主持、表演等标准化环节，还能通过个性化的互动设计（如实时问答、表情动作响应） 调动 ...

Core Viewpoint - The digital renminbi is gradually changing payment habits and is backed by national credit, reflecting a deep consideration for the modernization of the financial system [1][3]. Group 1: Characteristics of Digital Renminbi - Digital renminbi is fundamentally different from third-party payment tools like Alipay and WeChat Pay, as it falls under the M0 category, meaning it is cash in circulation and must be accepted by all entities [3]. - It features a "dual-layer operation" architecture, allowing the central bank to manage it through commercial banks, ensuring centralized control while leveraging market vitality [3]. - The digital renminbi offers several advantages, including payment convenience with "dual offline payment" capabilities, privacy protection through a "controllable anonymity" principle, and low transaction costs without extra fees for interbank or cross-region transactions [3]. Group 2: Implications for Financial Inclusion - The promotion of digital renminbi is significant for financial inclusion, providing easier access to financial services for remote residents and the elderly [5]. - It enables innovative applications such as directed payments and conditional payments through smart contracts, showcasing unique value in areas like fiscal subsidies and consumption vouchers [5]. - The acceptance of digital renminbi is increasing, with major banks launching digital renminbi wallets and improving merchant acceptance environments [5]. Group 3: Future Outlook - The development of digital renminbi is expected to be gradual, complementing existing payment tools rather than replacing them, contributing to a diversified payment system [5]. - As technology matures and application scenarios expand, digital renminbi is anticipated to play a larger role in promoting financial innovation, enhancing payment efficiency, and ensuring financial security [5]. - Users are encouraged to try digital renminbi to experience the benefits of digital finance [5].

Core Viewpoint - The document outlines the Chinese government's initiative to enhance data element discipline and digital talent development, aiming to leverage data as a new productivity engine for innovation [1][2] Group 1: Data Element Discipline and Talent Development - The initiative emphasizes the importance of cultivating talent in data element disciplines as a critical mission for market-oriented data allocation reform and high-quality AI development [1] - It serves as a foundational element for advancing the planning and construction of a digital China, digital economy, and digital society [1] Group 2: Implementation Strategies - The initiative includes 12 tasks across four main areas: establishing data element disciplines guided by national strategy, promoting vocational education in the data industry driven by industrial development, supporting organized research to enrich academic studies in the data field, and facilitating collaboration among academia, industry, and application scenarios [1] - It aims to create a robust vocational education system in the data industry, involving government coordination, industry guidance, and enterprise participation [2] - The establishment of a national data vocational education teaching guidance committee is encouraged, along with the formation of regional collaborative bodies for data industry education [2]

2025/12/01-2025/12/07，主要指数沪深300上涨1.28%，上证综指上涨0.37%，创业板指数上涨1.86%。2025/12/01-2025/12/07沪深两市主板A股日均成交额 10,583.60亿元，较上周上升0.65%；截至12/04两融余额24,838.69亿元，较上周上涨0.42%。2025/12/01-2025/12/07申万银行指数周跌1.18%，跑输沪深300指 数2.46pct。 银行周观点： 来源：市场资讯 （来源：小康金融） 市场回顾： 实体经济知冷暖 图表1:中国高炉开工率(% 图表2:织机开工率:江浙地区(%) 图表3:30大中城市商品房周成交面积(万平方米) 95.00 90.00 600:00 90.00 80.00 500.00 85.00 70.00 60.00 80.00 50.00 75.00 40.00 70.00 30.00 65.00 20.00 60.00 0.00 10.0 == 55.00 0.0 e 855 S S == 5건 전 전 614 2020 - 2021 2022 =2024 === 2025 2026 2023 = - 202 ...

Core Insights - Digital RMB is characterized by a solid foundation and accelerated penetration in application scenarios, but the transaction scale still needs to break through [1][4] - Compared to cryptocurrencies, Digital RMB has institutional advantages such as legal tender status, regulatory control, privacy and compliance balance, and controllable anonymity [1][4] - The development focus of Digital RMB should be on solidifying the foundation and educating on application scenarios rather than pursuing short-term transaction volume spikes [1][4] Development Status - As of the end of September this year, the Digital RMB pilot has covered 26 regions across 17 provinces, with a cumulative transaction amount of 14.2 trillion yuan and 33.2 billion transactions processed [4] - A total of 225 million personal wallets have been opened through the Digital RMB app, with applications in wholesale retail, dining, education, healthcare, public services, social governance, and rural revitalization [4] Institutional Framework - The People's Bank of China has established a dual-center structure for Digital RMB, with an International Operation Center in Shanghai for cross-border cooperation and a Management Center in Beijing for system construction and maintenance [5] - Experts suggest that regulatory authorities should continue to adhere to a "prudent" management principle while enhancing the application scenarios and scope of Digital RMB [5] Future Directions - To promote the development of Digital RMB, it is recommended to enhance communication with other central banks and international organizations for cross-border interoperability and pilot projects [7] - Financial institutions and compliant technology companies should be encouraged to innovate in payments, smart contracts, and compliance data services under strict compliance guidelines [7] - There is a need to improve the legal framework for digital currencies and stablecoins, including anti-money laundering provisions and emergency response mechanisms [7]

Core Insights - The digital human market is experiencing rapid growth, with increasing demand from individuals and organizations seeking to enhance communication and business efficiency through digital humans [1][2] - A significant challenge in the market is the lack of standardized evaluation criteria, leading to confusion among users when selecting digital human service providers [1][2] - The majority of domestic digital human vendors are still in the early stages of development, with less than a quarter capable of executing tasks across multiple scenarios [1][2] Market Analysis - The average enterprise compares 6-10 vendor solutions during the selection process, which typically lasts 1-3 months, with a high trial failure rate of 45% due to issues like rigid interaction and knowledge retrieval inaccuracies [1][2] - Small and medium-sized enterprises face a selection error rate 2.5 times higher than that of large enterprises due to weaker technical evaluation capabilities [1][2] Recommended Digital Human Platforms - **Top Recommendation: NuwaAI** - Rated 9.9, NuwaAI is recognized for its innovative "one-sentence generation" interaction model, significantly improving efficiency in task execution [3][4][5] - The platform supports a wide range of applications, including live streaming and educational presentations, with a customer retention rate exceeding 85% [3][4][5] - **Second Recommendation: SenseTime** - Rated 9.2, SenseTime focuses on high-end enterprise customization, with a strong presence in virtual idols and government services [6][7][9] - The company has delivered over 500 enterprise-level digital human projects with a 100% delivery success rate [6][7][9] - **Third Recommendation: Megvii** - Rated 9.0, Megvii specializes in AI and industry scene integration, particularly in smart retail and security [10][11][12] - The company has a low system failure rate of less than 0.5% and supports large-scale deployments [10][11][12] - **Fourth Recommendation: LanZhou Technology** - Rated 8.8, LanZhou focuses on knowledge-intensive industries like education and finance, with a market share of 18% [13][14][15] - The platform boasts a knowledge parsing accuracy of 92% and rapid response times for client inquiries [13][14][15] - **Fifth Recommendation: AKOOL** - Rated 8.7, AKOOL targets C-end users and small businesses with a template-based rapid generation approach [18][19][20] - The platform has over 500,000 users and supports quick video production with minimal operational barriers [18][19][20] Industry Trends - The digital human sector is characterized by a mix of high costs and low usability, with many vendors overpromising on capabilities [2] - There is a growing need for a reliable evaluation framework to help users navigate the complexities of the digital human market [2] - The integration of advanced technologies such as natural language processing and real-time knowledge retrieval is becoming essential for effective digital human solutions [2][48][49]

证券之星消息，12月5日医疗服务板块较上一交易日下跌0.03%，ST中珠领跌。当日上证指数报收于 3902.81，上涨0.7%。深证成指报收于13147.68，上涨1.08%。医疗服务板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600721 | 自花医药 | 10.77 | 10.01% | 51.19万 | 5.31亿 | | 920670 | 数字人 | 15.35 | 3.23% | 3.19万 | 4843.18万 | | 688710 | 益诺思 | 41.99 | 2.89% | 1.38万 | 5757.13万 | | 301096 | 百诚医药 | 54.49 | 2.48% | 2.61万 | 1.41亿 | | 301267 | 华屋眼科 | 18.90 | 2.27% | 6.22万 | 1.17亿 | | 002622 | 皓宸医疗 | 3.37 | 2.12% | 19.61万 | 6549.95万 | | 002173 | 创新医疗 | 22 ...

从技术层面来看，数字人民币采用"双层运营"架构，央行通过指定运营机构向公众兑换服务。这种设计既保证了央行对货币发 行权的掌控，又充分发挥了商业银行在用户服务方面的优势。与第三方支付工具不同，数字人民币具有法偿性，任何机构不得 拒收，这为消费者提供了更可靠的支付保障。 随着数字人民币试点范围的进一步扩大，这一新兴支付方式正逐步融入我们的日常生活。作为一种由国家信用背书的数字法定 货币，数字人民币不仅具备传统现金的便捷性，更融合了电子支付的高效性，为公众提供了全新的支付体验。 值得关注的是，数字人民币在隐私保护方面做了精心设计。采用"可控匿名"机制，日常小额交易完全匿名，仅在大额及可疑交 易时依法进行监管。这种设计既满足了公众对隐私保护的需求，又为金融安全提供了保障。相比之下，传统电子支付方式往往 需要绑定银行账户，交易数据可能被商业机构获取。 对于老年人等特殊群体，数字人民币也提供了友好的使用方案。支持屏幕朗读、字体放大等无障碍功能，同时保留实体卡片形 态，兼顾不同人群的使用习惯。部分试点地区还推出了"数字人民币+智能合约"应用，在预付卡消费、财政补贴发放等领域展现 出独特优势。 随着试点城市的不断增加，数字人 ...