ChatGPTPulse：从被动问答到主动推送，驱动用户增长与商业潜能

Investment Rating - The report indicates a focus on the consumer (to-C) model, suggesting a positive outlook for OpenAI's ChatGPT with the introduction of the Pulse feature [17]. Core Insights - The launch of the Pulse feature marks a shift from input-driven to push-driven user engagement, enhancing accessibility for a broader audience [11][12]. - Pulse is expected to significantly increase user engagement metrics, potentially raising the daily active users (DAU) to monthly active users (MAU) ratio from approximately 30-40% towards full utilization [13]. - The feature's ability to provide personalized recommendations based on deep contextual understanding positions OpenAI to compete with major players like Meta and Google in e-commerce and advertising [14][16]. Summary by Sections User Experience - Pulse transforms the user experience by proactively delivering results, thus lowering the barrier for less experienced users [11]. - This evolution signifies ChatGPT's transition from a specialized tool to a mass-market product [12]. User Engagement - The combination of Pulse and Memory features is expected to create a dual flywheel effect, enhancing user stickiness and retention [12]. - As users provide more data, the accuracy of recommendations will improve, reinforcing user loyalty [12]. Commercial Potential - Pulse is anticipated to serve as a new engine for precision recommendations, significantly improving product relevance and conversion rates in e-commerce and advertising [16]. - The integration of Pulse with e-commerce platforms could unlock new monetization pathways for OpenAI [16]. Technological Trends - The report discusses the potential rise of edge AI, with smartphones becoming central to personal data management, which could lead to the development of AI-driven mobile devices [15]. - While cloud solutions remain dominant in the short term, increasing demand for personalization and privacy may lead to a reevaluation of edge AI's strategic value [15].