Core Viewpoint - The article highlights the strategic shift of Fenbeitong towards AI, particularly focusing on the development of Agent products to enhance corporate travel expense management [1][4][20]. Company Development - Founded in 2016, Fenbeitong has experienced ups and downs, evolving from proposing an "enterprise consumption platform" in 2017 to launching "integrated travel expense control" in 2022 [2][5]. - The founder, Lan Xi, has been recognized as a leading figure in the corporate spending management sector, leveraging his investment background to drive product and model innovation [2][6]. AI Strategy - Lan Xi predicts that Agents will become the mainstream form of AI products in the next two to three years, prompting Fenbeitong to rapidly adjust its strategy and resources towards this goal [4][7]. - The company is developing multiple Agent products simultaneously, aiming to create a comprehensive next-generation product by integrating various AI capabilities [18][20]. Product Development - Fenbeitong's approach involves breaking down the travel Agent into three key steps: determining travel reasons, generating itineraries, and integrating transportation options [14][15]. - The complexity of the travel Agent requires consideration of both individual preferences and corporate spending control rules, which Fenbeitong aims to address through structured data and advanced algorithms [15][17]. Market Positioning - The company intends to transition from focusing on medium to large clients to also targeting small and micro enterprises, expanding its market reach [20]. - Fenbeitong has achieved profitability this year, with a healthy cash flow and double-digit growth in GMV, indicating a solid foundation for future expansion [20].