家用电器行业深度报告：AI+家电：跨越智慧家居，拥抱万物拟人

Investment Rating - The report suggests that the home appliance industry is entering a new phase driven by AI+ consumption, indicating a positive investment outlook for companies involved in this sector [4][6]. Core Insights - The integration of AI with consumer products is expected to transform the home appliance industry, enhancing user experiences and creating new market opportunities [6][21]. - The report highlights the emergence of embodied intelligent products, particularly in the realm of household service robots, which are evolving to meet consumer demands for automation and efficiency [26][30]. - AI technology is anticipated to significantly improve the interaction and functionality of audio-visual devices, such as smart TVs and smart speakers, addressing current limitations in user experience [53][58]. Summary by Sections AI+ Consumption as a Key Investment Direction - The report emphasizes that the intersection of technology and consumer markets is generating innovative products, with AI+ consumption becoming a crucial growth area [6][8]. - Government policies are encouraging AI+ consumption, particularly benefiting the home appliance sector through subsidies and support for new consumption models [8][10]. Emergence of Embodied Intelligent Consumer Products - Current consumer-grade robots are noted to have sufficient automation and digitalization but lack advanced AI capabilities [26]. - The development direction for household service robots is identified as combining mobile bases with robotic arms, enhancing their functionality in domestic tasks [30]. AI Empowering Audio-Visual Interfaces - The report discusses the advancements in smart audio-visual devices, noting that while they have achieved significant functionality, there is still room for improvement in user experience [53][54]. - The integration of AIGC technology into smart speakers and TVs is highlighted as a potential game-changer for enhancing user interaction and satisfaction [58][64]. Transformation of the Home Appliance Industry - The report outlines how AI is set to revolutionize various segments of the home appliance supply chain, from marketing to production and distribution [6][19]. - Investment recommendations include companies that are already leveraging AI in their products, such as Hisense and Roborock, while also highlighting the importance of global market strategies for companies like Midea and Haier [6][21].