Core Insights - The core value of future internet companies lies in "human" contributions, especially in complex fields like philosophy, art criticism, and emotional consulting, where human perspectives and experiences remain irreplaceable [1][5]. Group 1: Impact of AI on Traditional Internet - By 2025, AI technologies such as chatbots and AI agents are expected to reshape workflows, indicating a significant transformation in traditional internet operations [2]. - Zhihu, a representative of traditional internet communities, reported a decline in total revenue from 960 million yuan in 2024 to 730 million yuan in 2025, a decrease of 24%, despite achieving profitability [2]. - The emergence of generative AI has fundamentally challenged the UGC (User Generated Content) ecosystem, affecting not only community platforms but also search engines like Google [2][3]. Group 2: Changes in User Behavior and E-commerce - AI is altering content production methods and reshaping user behavior, providing seamless information services that redefine traditional search logic [3]. - E-commerce platforms are experiencing a transformation due to AI, with advancements in smart recommendation systems and virtual shopping assistants, leading to higher conversion rates but blurring the roles of intermediaries [3]. Group 3: Strategic Responses to AI Revolution - Traditional internet companies face a critical juncture where failure to adapt to the rapid technological changes could result in obsolescence [4]. - Companies must rethink their positioning and strategies, integrating AI capabilities into existing products or developing independent AI projects to keep pace with technological advancements [5]. - The challenge lies in maintaining the value of "human" contributions in an AI-dominated environment, as AI excels in standardized tasks while humans remain essential in creative and emotional domains [5].

新浪科技讯 5月29日下午消息，近日，字节跳动"筋斗云人才计划"升级后再度开启。与去年相比，开放 的前沿课题数增加30%，招聘目标群体的毕业年限范围进一步放宽。 据悉，"筋斗云人才计划"是字节跳动面向优秀技术人才推出的专项，职位涵盖全职和实习。希望在全球 范围内吸引和招募一批顶尖人才，发挥潜力，成为前沿难题的破局者。该招聘专项首次启动于2024年7 月。 今年的招聘在不限专业的基础上，大幅放宽目标博士生群体的毕业年限，全职岗位面向2022年9月至 2026年8月期间毕业的博士生，2025年9月及以后毕业的在校博士同学可以投递实习岗位。字节跳动官方 微信公众号称："不对专业做限制，不因工作年限卡定薪定级，欢迎有探索前沿技术想法的你投递。" 相关招聘计划的官网显示，本次招聘涵盖大模型应用、搜索/推荐/广告、计算机体系结构与系统优化、 安全/AI Safety、硬件、AI Coding、视频架构、AIGC等8大领域；向目标招聘群体开放的课题数量由 2024年的31个增加至42个。这些课题分布在学术研究和科研应用两个方向，支持成果发表，也有丰富的 场景可以落地。 字节跳动招聘相关负责人表示："公司对前沿探索有长期投入 ...

Group 1 - Tencent has launched the largest employment plan in its history, aiming to create 28,000 internship positions over three years, with 10,000 positions expected in 2025, focusing 60% on technical talent [2] - The recruitment initiative includes campus presentations at 40 universities and online recruitment events, reaching over 400,000 potential candidates [2] - The recruitment plan covers over 70 job types across five categories, with a significant emphasis on technology roles such as artificial intelligence, big data, and cloud computing, accounting for over 60% of the openings [2] Group 2 - Tencent provides a comprehensive training system and learning resources for graduates, facilitating their transition from campus to workplace [3] - The company has seen a steady increase in recruitment, contributing to the creation of over 50 million direct and indirect job opportunities through its WeChat ecosystem [3]

Group 1 - Meituan reported 1Q25 results with total revenue largely in line with consensus and earnings ahead of expectations [1] - Core local commerce revenue and operating profit beat consensus, highlighting Meituan's strength against JD's growing competition [1] - Management did not provide guidance or commentary on future performance, which was a point of disappointment [1] Group 2 - Astrada Advisors specializes in investment research across technology, media, internet, and consumer sectors in North America and Asia [1] - The firm focuses on identifying high-potential investments and navigating complex industries, providing a unique perspective on market developments and emerging risks [1] - Research integrates fundamental analysis with data-driven insights to offer a comprehensive view of industry dynamics [1]

2025 年 05 月 28 日 —计算机行业点评报告 推荐(维持) 事件 分析师：宝幼琛 S1050521110002 baoyc@cfsc.com.cn 联系人：谢孟津 S1050123110012 xiemj@cfsc.com.cn 行业相对表现 | 表现 | 1M | 3M | 12M | | --- | --- | --- | --- | | 计算机(申万) | 0.4 | -12.3 | 31.0 | | 沪深 300 | 1.4 | -1.4 | 6.3 | 券 研 究 报 告 Alphabet（GOOG.O）：Gemini 驱动 AI 商业化 加速，多元生态协同释放增长潜力 市场表现 -40 -20 0 20 40 60 80 (%) 计算机 沪深300 资料来源：Wind，华鑫证券研究 相关研究 1、《计算机行业周报：Claude4 模 型技术升级，天工超级智能体开启 AI 办公新纪元》2025-05-27 2、《计算机行业点评报告：Meta 广告主业稳健增长，AI 与可再生生 态协同驱动长期价值提升》2025- 05-22 3 、 《 计 算 机 行 业 点 评 报 告 ： Spotify ...

海外行业报告 | 行业动态研究 谷歌 I/O 大会点评： 重构 AI 全栈生态，谷歌 AI 重回领跑者位置 事件： 5 月 21 日凌晨，谷歌 2025 年度 I/O 开发者大会的主题演讲展示了在基础 模型、多模态、AI 智能体、可穿戴设备等领域的最新成果。Gemini 2.5 Pro 模型实现多任务处理能力跃升，推理效率与准确性显著提升；智能眼镜 XR 发布，推动端侧设备场景落地；AI 驱动的搜索与网页浏览功能，通过生成 式 AI 实现从信息检索到智能交互的转变，标志着 AI 正加速向 "通用智 能体" 进化。 AI 渗透率加速提升，已成为驱动谷歌核心产品增长的重要引擎。谷歌 CEO Sundar Pichai 表示谷歌 AI 大模型及 API 月均处理 Token 量已从去年同 期的 9.7 万亿快速提升至 480 万亿，增幅达 48 倍；其搜索业务中 AI 综 述功能的月活跃用户规模达到 15 亿。谷歌 Lens 搜索次数的年增长率为 65%，今年已经完成超过 1000 亿次视觉搜索。 Gemini 系列模型持续迭代升级，加速向一站式 AI 服务平台演进。Gemini 2.5 在多模态理解、代码生成、长 ...

Core Insights - Google is transitioning to an "AI-first" strategy, moving beyond exploratory phases to a more assertive implementation of AI technologies across its product lines [2][3][4] - The introduction of AI Mode is set to redefine search experiences, transforming them from simple link retrieval to real-time, customized interactions [3][4][21] - Google emphasizes that the web is not dying but evolving, with AI enhancing the connection between users and content creators [3][4][22] AI Transformation - The AI transformation is described as a platform-level leap rather than just a functional upgrade, indicating a comprehensive restructuring of product logic [3][4] - AI is expected to significantly enhance creativity and productivity across various sectors, benefiting both developers and content creators [6][16] Search Experience Redefinition - The future of search is envisioned as a real-time interactive experience, challenging the traditional search box and link list model [3][4] - AI Mode will generate interactive charts and mini-apps, fundamentally changing how users engage with search results [2][3] Web Ecosystem Impact - The web is undergoing a transformation rather than a decline, with Google asserting its commitment to driving traffic to creators [3][4][22] - The number of web pages has increased by 45% over the past two years, indicating a growing content landscape despite concerns about AI-generated content [22][23] AI Tools and Services - AI tools are being integrated into various industries, including healthcare, where they enhance efficiency and user experience [10][12][14] - The development of AI-driven coding tools and video creation applications is rapidly advancing, showcasing the potential for widespread adoption [9][10] Competitive Landscape and Regulation - Google welcomes competition but maintains that search integrity must not yield to political pressures, emphasizing its commitment to neutrality [4][39] - The company is aware of ongoing antitrust scrutiny and is focused on maintaining its foundational technologies while innovating [38][39] Future of AI and Robotics - The next significant platform shift is anticipated to occur when AI integrates with robotics, leading to transformative changes in various sectors [41][42] - AI is viewed as a universal technology that will reshape multiple business areas, including search, YouTube, and cloud services [16][41]

张丹表示，抖音官方客服不会给用户打电话说某个功能、服务需要扣费，也不会让用户下载任何其他软 件、共享屏幕或者是跟客服添加社交好友等等。只要遇到这类情况就一定是诈骗。 抖音官方客服也会主动外呼用户，针对比如之前用户反馈过某个问题，主动跟进解决，或者是用户反馈 的材料不齐，联系用户补充材料，还有的时候是一些满意度的调研等，但全都不会涉及费用问题。 在发布会现场，张丹指导用户如何识别"假客服"，"最简单的方法，大家直接拨打抖音官方服务热线 95152进行核实，也可以打开抖音App，搜索"验证助手"，将收到的信息内容或电话号码输入，查询是 否来自抖音官方。"另外张丹表示，抖音集团和部分手机厂商合作进行了官方认证，大家接到电话，如 显示为"抖音XX热线""抖音XX专线"等认证名，则确定是官方电话。以抖音服务热线95152为例，华 为、小米、OPPO、vivo、一加和苹果等手机用户都能看到"抖音官方服务热线"的认证显示。如果来电 号码没有认证显示，但自称是抖音客服，还要求关闭或取消相关功能否则有扣费产生，则可断定为骗 子。 新京报讯（记者张静姝 实习生武亮亮）5月28日下午，北京市公安局刑侦总队召开防范虚假征信类电信 网 ...

几乎没有任何悬念，快手今年一季度财报中，主角依然是AI。不过，另一个值得关注的消息，快手海 外业务的经营利润首次转正。 不过另一方面，如果将视线转到快手的其他业务时，不难发现快手依然有一些"隐忧"存在，即基本面难 以提振的增速。 "慢下来"是快手的主旋律 在AI之前，行业对于快手的关注点主要在电商，尤其是在2023年快手电商年GMV（商品交易总额）迈 入万亿俱乐部之际，后者被视为快手的增长动力。 今年Q1，快手的电商GMV（商品成交总额）为人民币3323亿元，同比增长15.4%，在经历了电商GMV 破亿、收入增速放缓之后，如今快手电商GMV的增速已经趋于平稳。2024年Q4、Q3，快手的电商 GMV增速分别为14.4%、15.1%，与今年一季度基本持平。这意味着，即便有AI的赋能，快手电商能带 来的增长想象仍是有限的。 在兴趣电商增长放缓、极致低价变成历史的当下，全域电商先后成为抖音电商和快手电商的锚定方向。 只是快手反复强调的货架电商也仍未见起色，此次公布的财报数据中，快手泛货架电商GMV对总电商 GMV的贡献比例约30.0%。而这一数据相较于前两个季度没有明显变化，提升缓慢。而2024年Q4、 Q3、Q2 ...

Core Insights - Tencent's Hunyuan team and Tencent Music's Tianqin Lab have launched and open-sourced the HunyuanVideo-Avatar voice digital human model, which can generate dynamic video content from a single image and audio file [1] - The model integrates Tencent's Hunyuan video large model with MuseV technology, enabling it to recognize environmental information and emotional content from the input image and audio [1] - HunyuanVideo-Avatar supports various scene settings and artistic styles, breaking the limitations of traditional digital human technology by offering full-body motion capabilities [1] Application and Implementation - HunyuanVideo-Avatar has been implemented in several core products of Tencent Music Entertainment Group, including real-time singing actions in QQ Music and storytelling capabilities in Kugou Music [2] - The model employs a multi-modal diffusion Transformer (MM-DiT) architecture, ensuring consistency in character representation and extracting emotional features from audio and images [2] - The technology has achieved industry-leading levels in subject consistency and audio-visual synchronization, matching the performance of mainstream closed-source solutions [2] User Experience and Future Developments - The single-subject functionality of HunyuanVideo-Avatar is available for user experience on Tencent's official website, currently supporting audio files of up to 14 seconds [3] - The open-source initiative is expected to promote the widespread application of AI video generation technology, providing cost-effective solutions for short video creation, e-commerce marketing, and advertising [3]