AI行业点评：看好AI应用持续，三大预期差

Investment Rating - The report rates the AI industry as "Overweight," indicating a positive outlook for the sector's performance compared to the overall market [1]. Core Insights - The report highlights three key expectations regarding the AI sector: 1) Significant advancements in AI agent technology, with major players continuing to drive innovation 2) Current AI agent products are limited by data security and hardware performance, indicating they have not yet reached their final form 3) Future developments in B2B products and multimodal applications are anticipated to bring substantial changes [1][4][18]. Summary by Sections Market Perception and Technological Advancements - The market perceives AI as a short-term trend, but the report argues that there are substantial advancements in reasoning technology, with large models evolving from simple dialogue capabilities to complex task planning [4][6]. - Key advancements include task planning, memory capabilities, and tool usage, which are essential for AI agents to perform complex tasks [4][6]. Current Limitations of AI Agents - The report notes that current AI agent products are not user-friendly due to limitations in model capabilities, data security, and mobile performance, suggesting that they are far from their ultimate potential [4][7]. - The existing implementation path for AI agents involves reading UI elements, which slows down interaction and limits the agent's ability to learn from user history [9][11]. Future Developments and Market Opportunities - The report anticipates significant changes in B2B products and multimodal applications, with companies like ServiceNow and Atlassian enhancing their AI functionalities [18][19]. - Major companies are launching new AI agents, with Microsoft introducing ten new agents for its Dynamics 365 applications, which are expected to enhance productivity significantly [19][20]. Key Companies and Valuations - The report identifies several key companies in the AI sector, including: 1) Fanwei Network and Dingjie Zhizhi for B-end applications 2) Wanjing Technology and Hongsoft Technology for multimodal applications 3) iFLYTEK for AI education 4) Kingsoft Office and Foxit Software for AI office solutions 5) Xinzhi Software for AI finance 6) Rundar Medical for AI healthcare [21][22]. - Valuation data for these companies is provided, indicating their market capitalization and projected earnings [22].