外滩大会一线投资人热议Agent投资路径：通用与垂类智能体的路径权衡

Group 1 - The core viewpoint of the articles revolves around the rapid development and potential of AI agents in various sectors such as finance, healthcare, and education, with a focus on their transition from digital to physical realms [1][3][4] - The expectation for AI agents has significantly surpassed previous generations, with the possibility of AI exceeding human intelligence, particularly in high-tolerance scenarios like emotional companionship [3][4] - China is leading in AI applications, with many of the world's first AI agents emerging from Chinese startups, attributed to the country's strong product management capabilities and rapid technological advancements [3][4] Group 2 - The current landscape of AI agents is characterized by a lack of established valuations and early-stage commercialization, with two main categories: general-purpose and vertical-specific agents, each with distinct risk and return profiles [5][7] - Investment strategies are diversifying, with a focus on vertical AI agents that have large market potential and strong willingness to pay, while also considering foundational infrastructure like computing power [7][8] - A "dumbbell strategy" is suggested for investments, balancing between high-risk general-purpose applications and more stable, workflow-integrated business-to-business (B2B) applications to mitigate technological iteration risks [7][8]