
Group 1 - The core viewpoint is that the prerequisites for AI application development are now mature, including advancements in information technology, computing power, and network communication, leading to a significant reduction in AI application costs and a rapid increase in penetration rates [1] - The report suggests that the value of AI will be realized at the application level, potentially replicating the market structure of traditional products, where the application layer dominates software industry revenue and cash flow [1] - The Guotai AI ETF (159388) tracks the ChiNext AI Index (970070) and is characterized by high elasticity, with daily price fluctuations reaching up to 20%, making it a noteworthy investment option in the ChiNext segment [1]