《科创板日报》9月28日讯（记者 黄心怡）2025年下半年，AI对于电商的渗透正在加速进行。面对AI浪 潮，如何将大模型与自身业务深度融合，成为了京东、淘宝等电商平台的探索重点。 近日，京东零售首次对外公布电商AI架构体系Oxygen。《科创板日报》记者获悉，今年10月京东APP 的下一个重大版本将推出更多的智能化功能，包括智能导购产品 "爱购"、商品的虚拟现实3D呈现等。 京东集团高级副总裁、京东集团产品委员会主席胡喜向记者介绍，目前基于京东JoyAI大模型，训练了 多个专业模型，包括预测模型、生成式推荐模型和多模态模型（VLM）等。这些模型不仅是技术工 具，而是构成了智能电商的"大脑"和决策中枢。 为了构建下一代智能电商平台，京东还将开发各种功能型智能体，如商品展示智能体、采销智能体、客 服智能体、营销智能体等。这些智能体将协同工作，共同推动电商行业的智能化升级。 "我们已经开放了多智能体协作框架OxyGent和Oxygent-9N-xLLM大模型推理引擎，未来会有更多技术 对外开放。" 胡喜称。 胡喜坦言，京东在内部推进智能体落地时会以较为务实的态度。"智能体的概念是挺好的，但必须考虑 其落地的可能性。 ...

阿里唱罢，京东登场。 9月25日，"2025京东全球科技探索者大会"（以下简称JDD）上，京东集团SEC副主席、CEO（首席执 行官）许冉宣布，京东探索研究院升级，京东创始人刘强东亲自担任京东探索研究院院长，在全球招募 人工智能科学家。 除了京东大模型品牌Joy AI（人工智能）升级外，京东还一口气发布了三款面向用户端的App（应用程 序），分别为购物和生活助手"京犀"、万能数字人助手"他她它"和附身智能应用"JoyInside"。 许冉还现场演示使用"他她它"下单了100杯咖啡，花费1694元。 2025年被视为"AI Agent（智能体）元年"。京东AI Agent在JDD现场也组团亮相。值得一提的是，不久 前，美团也宣布首款AI生活Agent"小美"开启公测，"小美"搭载美团自研的LongCat-Flash-Chat大模型。 "一句话购物""一句话点外卖"，围绕大模型和Agent，大厂新一轮的AI争夺战开始了。 Agent能力在京东核心业务中加速渗透 京东AI Agent"军团"在JDD期间的"Agent开发者论坛"上密集亮相，从业务前端到技术底层，从效率提升 到组织变革，京东正在布设一盘AI Agen ...

阿里唱罢，京东登场。 9月25日，"2025京东全球科技探索者大会"（以下简称JDD）上，京东集团SEC副主席、CEO（首席执 行官）许冉宣布，京东探索研究院升级，京东创始人刘强东亲自担任京东探索研究院院长，在全球招募 人工智能科学家。 除了京东大模型品牌Joy AI（人工智能）升级外，京东还一口气发布了三款面向用户端的App（应用程 序），分别为购物和生活助手"京犀"、万能数字人助手"他她它"和附身智能应用"JoyInside"。 2025年被视为"AI Agent（智能体）元年"。京东AI Agent在JDD现场也组团亮相。值得一提的是，不久 前，美团也宣布首款AI生活Agent"小美"开启公测，"小美"搭载美团自研的LongCat-Flash-Chat大模型。 "一句话购物""一句话点外卖"，围绕大模型和Agent，大厂新一轮的AI争夺战开始了。 Agent能力在京东核心业务中加速渗透 京东AI Agent"军团"在JDD期间的"Agent开发者论坛"上密集亮相，从业务前端到技术底层，从效率提升 到组织变革，京东正在布设一盘AI Agent生态大棋。 在即时零售领域，京东创新零售技术研发部负责人张俭恭分 ...

此次入选再度验证了奇富科技在技术创新、市场开拓、经营管理、模式创新等方面的综合实力。 （原标题：AI Agent成为金融科技新战场，奇富科技(QFIN.US/03660.HK)斩获四项上海百强企业荣誉） AI Agent赛道正迎来爆发式增长。天风证券研究表明，Agent总目标市场（TAM）约3.61万亿元，未来 有望加速向核心场景渗透。其中，C端最快落地搜索/编程，B端聚焦法律金融等垂直领域，大中企业是 主力客户。 针对C端场景，互联网大厂纷纷布局各自特色的生活服务AI Agent产品。日前，美团-W(03690.HK)推出 了首款AI Agent产品"小美"，定位为生活服务型AI。此前，支付宝推出了智能助理，致力于成为人人可 用的AI生活管家，淘宝则推出主打引导用户下单的"AI助手"。 而在诸多B端场景中，AI Agent在金融场景率先落地。比如，奇富科技(QFIN.US/03660.HK)自主研发 的"奇富信贷超级智能体"是行业首个赋能信贷核心业务的智能体，目前已在信贷风控、授信审批、合规 管理等核心场景落地应用，为合作机构和终端客户提供高效智能的服务。根据公开消息，截至第二季 度，该智能体已在多家金融机 ...

AI或将成为重构生活服务版图的重要力量。 9月25日，在2025京东全球科技探索者大会（JDD）上，京东集团 CEO许冉亮出内测中的 "京犀APP"， 将其定义为"下一代购物和生活服务超级入口"。而仅仅13天前，美团美团刚刚宣布首款AI生活Agent"小 美"开启公测。 两大巨头几乎同时抛出重磅产品，一场围绕用户生活"默认操作系统"的争夺战已然打响。 据悉，小美搭载自研美团的LongCat-Flash-Chat大模型，主打"一句话搞定本地生活所有事"，聚焦本地 服务场景深化。用户说 "再来一单上周常喝的拿铁"，系统能直接调出历史偏好生成订单；提及"带家人 周末出游"，则同步规划餐饮、门票、停车等全流程服务，实现 "说完即出结果"的快速响应。小美"即 时响应"的体验源于LongCat大模型的技术突破。这款采用混合专家模型（MoE）架构的560B参数模 型，通过动态激活18.6B至31.3B参数，实现计算效率与性能的平衡。其在H800芯片上达成100token/s的 生成速度，输出成本低至5元/百万token。"京东、美团的动作呼应了全球趋势 ——OpenAI即将打通 Stripe支付，AI流量正加速转化为商业流 ...

Group 1 - The Hang Seng Index opened lower but rebounded, led by gains in the chip and internet sectors, with ASMPT rising over 6% and Alibaba-W and SMIC both increasing by over 3% [1] - The Hong Kong Technology 50 ETF (159750) rose by 0.68%, with over 60 million yuan in trading volume during the session, and a net inflow of approximately 250 million yuan over the past eight trading days [1] - Alibaba's CEO, Wu Yongming, introduced the concept of "super artificial intelligence" at the 2025 Yunqi Conference, emphasizing that the intelligence revolution will exceed expectations and will liberate human potential [1] Group 2 - Ark Investment Management, led by Cathie Wood, made its first investment in Alibaba and other Chinese tech stocks in four years, investing approximately 21 million USD in Chinese concept stocks, including over 16 million USD in Alibaba [2] - The Hong Kong internet sector is expected to recover after the mid-year earnings period, with reasonable valuations and high cost-performance in the growth sector, alongside anticipated breakthroughs in AI technology [2] - The Hong Kong Technology 50 ETF tracks the Hong Kong Technology Index, covering the top ten Chinese tech stocks and showing a cumulative increase of 131.68% since its base date, outperforming the Hang Seng Technology Index, which increased by 109.81% in the same period [3]

Investment Rating - The report maintains an "Outperform" rating for the industry [3][4][30]. Core Insights - The AI sector is showing significant impacts on the advertising business, cloud computing scenarios, and enterprise efficiency, with notable growth in Q2 for Tencent's advertising at 20% and Alibaba Cloud accelerating to 26% [2][27]. - The report highlights the full-chain layout of self-developed chips by internet companies like Baidu and Alibaba, which is expected to enhance market share [2][27]. - The report recommends focusing on the AI mainline, specifically suggesting investments in Tencent Holdings, Alibaba, Kuaishou, Baidu Group, Meitu, and Tencent Music, which are less correlated with macroeconomic fluctuations [2][27]. Company Dynamics - Baidu's AI search has reached 365 million monthly active users, leading the domestic AI search industry [15]. - Tencent has launched a professional-grade AI 3D workspace called "Hunyuan 3D Studio" aimed at 3D designers and game developers [15]. - Meituan's first AI Agent product "Xiao Mei" has entered public testing, enhancing local life service experiences [20][21]. Underlying Technology - Tongyi's first deep research Agent model "DeepResearch" has been officially open-sourced, achieving state-of-the-art results [2][22]. - ByteDance has released the Seedream 4.0 image creation model, allowing various creative modes [22]. - Alibaba has open-sourced the action generation model "Wan2.2-Animate," enabling dynamic expressions in images [23]. Industry Policy - Guangdong province is supporting AI integration with robotics to create new markets for companion toys [25]. - Sichuan province plans to establish a "computing power supermarket" by 2027, aiming for unified scheduling and efficient use of computing power [26].

Group 1: AI in Daily Life Services - A food delivery platform is testing an AI service called "Xiao Mei," which allows users to place orders with a single sentence, streamlining the ordering process and personalizing recommendations based on past consumption habits [1] - The integration of AI services simplifies the complex process of searching, comparing, and ordering into an efficient model where users can simply state their needs [1] - The collaboration between "Xiao Mei" and Gaode Map's "Street Ranking" could create a closed-loop service that enhances user experience by combining discovery and purchasing [1] Group 2: AI in Office Collaboration - AI tools like Notion AI and Feishu are transforming office collaboration by generating project plans, meeting minutes, and market research reports from natural language inputs, significantly improving efficiency [2] - The evolution of office AI from executing commands to understanding context and providing suggestions indicates a restructuring of human resources, with repetitive tasks being automated [2] - This shift allows human resources to focus more on creative decision-making, leading to a redefinition of job roles [2] Group 3: AI in Healthcare - AI is advancing in the healthcare sector, moving from post-diagnosis assistance to pre-diagnosis support, with AI models achieving human-level performance in medical exams [3] - AI applications assist throughout the entire medical process, from initial patient assessment to follow-up care, potentially lowering barriers to healthcare access [3] - The emergence of AI as a personal health assistant could significantly benefit areas with uneven healthcare resource distribution [3] Group 4: AI in Creative Fields - AI is evolving from a passive executor to an active co-creator in the creative industry, with tools capable of generating high-quality visual and textual content quickly [3] - This transformation lowers the barriers to content creation, enabling more individuals to become content creators [3] - The ability of AI to understand and refine creative inputs through dialogue enhances the creative process for writers, video producers, and designers [3] Group 5: Investment Implications of AI Evolution - The evolution of AI indicates a shift from passive tools to proactive intelligent agents, changing the competitive landscape where understanding user preferences becomes crucial [4] - Investment in AI applications can be categorized into three stages: usable, useful, and replacement, with current focus on companies that can quickly implement AI solutions [4] - As AI matures, attention will shift to companies that integrate processes across verticals and those that successfully navigate industry-specific models and scenarios [4]

Core Insights - Nvidia and Intel have formed a strategic partnership, with Nvidia investing $5 billion to acquire a 5% stake in Intel, leading to a 22% surge in Intel's stock price. The collaboration focuses on developing customized products for data centers and PCs, marking a significant shift in their competitive relationship [3][6][21]. Group 1: Technological Breakthroughs - DeepSeek's R1 model has been published in Nature, showcasing a training cost of approximately $294,000 and emphasizing the use of reinforcement learning instead of extensive manual data, setting a new standard for scientific transparency in AI [4][5]. - World Labs, founded by Fei-Fei Li, has released the Marble model, capable of generating persistent 3D worlds from a single image or text prompt, offering significant advancements in environmental modeling for various industries [9][10]. - Math's AI agent, Gauss, has achieved a formal proof of a complex mathematical theorem in just three weeks, a task that took a renowned mathematician 18 months, indicating a major leap in AI's capabilities in research [15][17]. Group 2: Industry Trends - The AI talent gap in China has exceeded 5 million, with a supply-demand ratio of 1:10, prompting a shift towards vertical AI competitions as a means to identify and cultivate practical talent [7][24]. - OpenAI's report reveals that ChatGPT has over 700 million weekly active users, primarily using the platform for practical guidance, information search, and writing, indicating its growing global reach and application [12][13][22]. - The 2025 Smart Expo highlighted five key sectors: intelligent robotics, low-altitude economy, smart homes, intelligent driving, and digital cities, showcasing the competitive landscape among major tech companies [14][16]. Group 3: Product Developments - The launch of the "ZhiYue Agent All-in-One Machine" aims to address information management challenges for CEOs, providing a localized solution that integrates with existing enterprise systems [10][23]. - Meituan has introduced its first life service agent, "Xiao Mei," which simplifies user interactions across various services, indicating a shift towards more personalized AI applications in local services [17][18]. - ByteDance has released Seedream 4.0, a powerful image model integrated into its AI creative agent, revolutionizing e-commerce marketing content production [19][20]. Group 4: Strategic Movements - The departure of prominent AI researcher Yao Shunyu from OpenAI signifies a shift in focus from enhancing model capabilities to creating valuable real-world applications, suggesting new opportunities for startups [19][22]. - The collaboration between Nvidia and Intel is seen as a restructuring of the core value network in the chip industry, indicating a move towards ecosystem collaboration rather than zero-sum competition [21][24].

Core Insights - The AI agent market is rapidly evolving, with significant growth expected in China, projected to reach 6.9 billion yuan by 2025, up from 2.873 billion yuan in 2024, representing a growth rate of over 140% [1] - The launch of AI agents like Meituan's "Xiao Mei" and YS Digital's "Shuhui Assistant" marks a pivotal moment in the AI-driven local service sector, indicating a competitive landscape [2][3] - "Xiao Mei" focuses on a seamless user experience within the Meituan ecosystem, while "Shuhui Assistant" leverages the WeChat ecosystem for broader reach and cross-platform capabilities [4][10] Company Insights - YS Digital's "Shuhui Assistant" differentiates itself through its cross-platform integration, allowing users to access services across various platforms, unlike "Xiao Mei," which is limited to the Meituan ecosystem [10][13] - The "Shuhui Assistant" emphasizes a strong value proposition in cost-saving through digital rights accumulation, enabling users to find the best deals across multiple platforms [14][15] - The integration of banking activities into "Shuhui Assistant" creates a unique competitive advantage, providing users with access to financial service promotions alongside local service offerings [17][18] Market Dynamics - The AI agent market is expected to grow at a compound annual growth rate of 45.8%, with the digital rights market projected to reach 70.8 trillion yuan, presenting significant opportunities for companies like YS Digital [21] - The competitive landscape is intensifying, with major internet companies vying for market share in the local service AI sector, highlighting the importance of differentiation and strategic positioning [20][22] - YS Digital's early entry into the AI agent space, combined with its established partnerships and user base, positions it favorably for future growth and market leadership [22]