虎嗅APP·2025-03-22 03:33Core Viewpoint - Meituan is focusing on AI transformation, particularly in three key areas: unmanned delivery, AI large models and applications, and embodied intelligence, aiming for significant growth in the future [2][11][19]. Group 1: AI Strategy and Investment - Meituan's AI strategy is divided into three main areas: unmanned delivery (including drones and automated delivery vehicles), AI large models and applications, and embodied intelligence [2][11]. - The company is investing heavily in AI, with R&D expenditure reaching 21.1 billion yuan in 2024, the highest since its inception [4][5]. - Meituan is restructuring its workforce to prioritize AI-related roles, reducing positions in operations while increasing algorithm and hardware engineering roles [5]. Group 2: Unmanned Delivery - Unmanned delivery is seen as a critical focus for Meituan by 2025, with two main divisions for automated vehicle delivery and drone delivery, both of which have been in commercial operation for years [12][13]. - The company adopts a "self-research" model for these projects, establishing its own production facilities and attracting talent through external collaborations and university competitions [13]. - Meituan is focused on increasing user engagement and operational metrics for unmanned delivery, recognizing its long-term potential despite current low order volumes [13]. Group 3: AI Large Models and Applications - Meituan's AI product offerings are categorized into foundational products, such as the Meituan AI platform, and consumer-facing products, including the Wow AI community app [16][17]. - The company aims to leverage AI tools to enhance core business operations and has set specific growth metrics tied to AI advancements [17][18]. - Following the success of the DeepSeek product, Meituan is exploring new AI consumer applications, indicating a shift in strategy towards direct user engagement [18]. Group 4: Embodied Intelligence - In the field of embodied intelligence, Meituan is focusing on investments in companies that align with its core business scenarios and ecosystem [19]. - The company has publicly disclosed over 19 investment projects related to robotics, emphasizing a strategy that integrates with its operational needs [19]. - Meituan's investment logic in this area revolves around creating a closed-loop ecosystem that supports its core business [19]. Group 5: Competitive Landscape - Meituan is currently facing intensified competition from JD.com and Douyin, particularly in the areas of food delivery and local services [7][9]. - Despite the competition, Meituan's market share remains stable, with its daily order volume significantly higher than that of its competitors [23]. - The company is actively engaging with key merchants to strengthen partnerships and maintain its competitive edge against rivals [26].