从这款产品身上，能够看到一种"减法设计"理念。它保留了毛茸茸的外观，却摒弃了当今AI硬件中几乎 成为标配的语音交互模块与视觉传感器，转而依托于内置的多组传感器与机械结构实现互动。这种设计 使"mirumi"能够探测到用户的靠近与触摸，并通过转动头部、改变视线方向这种极其拟生却沉默的方式 作出反馈。 《科创板日报》1月12日讯（记者 李佳怡）AI版泡泡玛特，何时诞生？ 在CES 2026的聚光灯下，日本Yukai Engineering的AI萌宠"mirumi"和中国AI玩具机器人火爆出圈。与此 同时，京东、字节、华为等科技巨头也敏锐洞察到AI玩具赛道的广阔前景，正在积极加码布局这一赛 道。 从静态的收藏玩偶到动态的情感伙伴，新一代AI硬件正通过感知与交互，将玩具从展示柜带入日常生 活。这也标志着玩具产业的核心价值正从IP外观的"静观"，转向情感互动的"共在"。 ▎切中情绪消费的AI玩具引爆全球 在美国拉斯维加斯举办的2026年国际消费电子展（CES）上，日本Yukai Engineering公司推出的一款AI 萌宠机器人"mirumi"成为全场焦点。这款产品被许多观众戏称为"最没用处却又最想让人掏钱"的AI硬 ...

作者 | 黄昱 编辑 | 周智宇 在最近的国际消费电子展CES 2026上，一只有呼吸、能回应、有个性的"猫头鹰"受到不少人的关注。它是一个叫"Joobie小鹰啾"的AI宠物玩具，来自中国深 圳的Hugbibi。 一批像来Joobie这样自中国的"AI宠物"成为了今年CES上最吸睛的存在，据不完全统计，此次送展AI宠物玩具或者说AI陪伴机器人的中国公司有超过30家， 包括TCL、灵犀智能、Hugbibi、涂鸦智能、机器灵动等。 从各大展会，到国内外科技公司的新品发布会，再到线下商场与潮玩集合店的货架，AI宠物玩具的身影变得越来越密集。它们不再只是会发声、会走路的 电子玩具，而是被赋予了"性格""情绪"和"成长曲线"，试图成为陪伴用户的"长期存在"。 站在AI 应用大规模落地的背景下，AI 宠物玩具被视为大模型、传感器、低功耗芯片与消费级硬件结合的"最小可行产品"之一。一方面，它对精度、可靠性 的要求低于生产型或服务型机器人；另一方面，又天然契合情绪消费和陪伴经济的长期趋势。 从创业公司到科技巨头，从传统玩具厂商到互联网大厂，越来越多玩家开始涌入这一赛道。AI宠物玩具，正在成为继智能音箱、智能穿戴之后，又一个被 ...

Core Insights - The article discusses the evolution of artificial intelligence (AI) over the past 70 years, highlighting significant milestones and the need for global collaboration in AI innovation [5][22] - It emphasizes the role of Shanghai and Hong Kong as key players in the AI landscape, showcasing their contributions and the potential for international collaboration [6][10] Group 1: Historical Context and Evolution - The concept of AI was first introduced in 1956, with early predictions of machines achieving human-level reasoning within a decade [3] - The journey of AI has included various phases, such as the golden age of symbolic reasoning, the AI winter, the resurgence of machine learning, and the explosion of deep learning [5] - Key breakthroughs in AI have been driven by interdisciplinary collaboration and the convergence of ideas, data, and computational power [5][22] Group 2: Shanghai's AI Ecosystem - Shanghai has nurtured foundational AI models and applications across various sectors, including healthcare and education [6][9] - Innovations such as the "ZhiYuan" robot, which set a Guinness World Record for the farthest distance walked by a humanoid robot, highlight China's advancements in embodied intelligence [9] - The city faces challenges in resource integration and global connectivity, particularly for AI companies seeking international expansion [9] Group 3: Hong Kong's Role as an AI Hub - Hong Kong is emerging as an AI hub in Asia, with around 500 AI-related organizations and 290 AI companies, supported by a robust capital market [10] - The Hong Kong government has allocated 3 billion HKD for AI initiatives, including the establishment of AI research institutes and supercomputing centers [10] - The upcoming WAIC UP! global annual conference in Hong Kong represents a significant opportunity for collaboration between Shanghai's AI practices and Hong Kong's international interface [10][11] Group 4: WAIC UP! Conference Insights - The WAIC UP! conference aims to connect various stakeholders in the AI ecosystem, providing a platform for sharing insights and fostering collaboration [11][13] - The conference features international speakers who will discuss the evolution of AI and its commercial potential, helping participants navigate the future landscape [14][15] - The event facilitates rapid networking and resource linking, allowing participants to establish connections that typically take months to develop [18] Group 5: Future Perspectives - The article underscores the importance of rethinking human roles in the age of AI, emphasizing that human judgment and emotional intelligence remain irreplaceable [23] - The WAIC serves as a platform for ongoing dialogue about the future of AI, encouraging diverse perspectives and interdisciplinary collaboration [25] - The evolution of AI from an academic topic to a broader civilizational issue reflects its growing significance in shaping the future [25]

摘要： 这些动辄成百上千元的AI玩具，核心卖点离不开"情感陪伴"，但现实是，大多数产品存在反应延迟、学不会"正常说话"的问题。 "我想要它能从我的只言片语中发现我的闪光点，让我感受到被爱。" 北京海淀的无界咖啡馆里，一位顾客向AI玩具品牌创始人吐露心声。她轻抚着面前毛绒玩具，停顿片刻后略显失望："但延迟反应已经让我失去一半兴趣 了，好像总是不明白我在说什么。" 她买单的是，数百甚至上千元、标榜"情感陪伴"的高溢价产品，得到的却是价值仅几十元的技术内核提供的迟钝反应。这种支付与获得之间巨大的价值错 配，正在成为整个AI玩具行业的真实写照。 然而走进商场，消费者看到的却是另一番景象。AI玩具们长得大同小异：毛绒外壳配上一双不断眨巴、试图传达情感的大眼睛，宣传语出奇一致地写 着"心灵疗愈"、"温暖陪伴"。 "大家对AI玩具的期待超出了它本身的能力。"AI玩具品牌"超级球球"COO大白在一场体验会上坦言。这几乎是行业内的共识——多数套壳产品连基本自然 交互都难以实现，更谈不上深度情感理解。 图｜江苏一AI硬件公司提供的AI玩具零件结构图 前瞻研究产业院数据显示，AI玩具行业毛利率随产品定位水涨船高。基础款产品毛利率约 ...

2.智谱AutoGLM与豆包手机的分歧，是AI时代的安卓苹果之战？ 关键词：开源,自主执行,跨端协同,技术垄断,用户隐私 行业环境 1.2025：从杭州六小龙，到深圳硬件great again 家电丨市场观察 关键词：创业哲学,隐形冠军,独角兽走廊,营收数据,技术打磨 本周看点： 概要：2025年，杭州"六小龙"与深圳"隐形冠军"集群形成鲜明对比。杭州企业擅长流量运营和 宏大叙事，但部分公司产品与财务表现尚未成熟；而深圳企业如大疆、安克等更注重技术打 磨，低调务实，形成以"独角兽走廊"为核心的硬件生态圈。两地创业哲学差异明显：杭州自上 而下构建故事，深圳从底层技术出发，依托华强北快速试错与珠三角灵活供应链，实现"猥琐发 育"。深圳创业者更关注产品本身，拒绝炒作，形成独特草根创新文化。 -2025：从杭州六小龙，到深圳硬件great again； -谷歌重启，阿里入局：AI眼镜会沦为神话还是笑话； -机器人泡沫大讨论：揭秘"虚火"下的真实逻辑。 概要：12月9日，智谱开源AI Agent模型AutoGLM，支持跨端操作手机、电脑等设备，覆盖50 多个中文场景，云端运行。2025年8月将推出2.0版本。开源旨在防 ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The digital home appliance industry is experiencing a bifurcation, with companies in Hangzhou focusing on traffic operations and storytelling, while Shenzhen companies emphasize technical refinement and practical innovation [4] - The AI eyewear market is witnessing intense competition among major players like Google and Alibaba, with a projected market size of $4.2 billion by 2025, although consumer sentiment remains cautious [6] - The rise of AI emotional products is driven by the "loneliness economy," with a market expected to reach 59.5 billion yuan by 2028, as young consumers seek emotional companionship [6] - The humanoid robot sector is facing scrutiny over its reliance on remote control rather than autonomous intelligence, with a projected global shipment of only 1.38 million units by 2035 [7] - The AI model IPO race is heating up, with companies like MiniMax and Zhizhu AI vying for the title of "first AI model stock" in Hong Kong, indicating a shift from technology to commercialization [9] Industry Trends - The Hangzhou "Six Little Dragons" and Shenzhen "Invisible Champions" are contrasting entrepreneurial philosophies, with the former focusing on narrative and the latter on technical prowess [4] - The AI eyewear market is characterized by a shift from hardware to vertical scene integration and data control, with major players competing for market share and future interaction interfaces [6] - The AI emotional product market is evolving from functional needs to emotional value, driven by the increasing demand for companionship among young consumers [6] - The humanoid robot market is currently in a speculative phase, with significant investment but limited actual orders and production capacity [7] - The competition among AI models is intensifying, with a focus on ecosystem building and commercial validation as companies prepare for IPOs [9] Brand Dynamics - The AI investment landscape is witnessing a rush to IPO, with companies like Moonlight Dark Side negotiating significant funding and facing increased competition [17] - Ideal Auto has launched AI glasses as part of its strategy to integrate AI into physical products, emphasizing multi-modal data integration [18] - Xiaomi is making significant investments in humanoid robotics, aiming to leverage its existing technology and supply chain capabilities [19] - Google is re-entering the smart glasses market after a long hiatus, planning to launch new products that face challenges in market acceptance [20] - The AI assistant from Doubao is facing privacy concerns and restrictions from major app ecosystems, highlighting the tension between innovation and regulatory compliance [22]

2025年，伴随海内外巨头对AI（人工智能）大幅投入，AI硬件方向获得资金的大幅追捧，带动电子行 业股价大幅上涨。在电子行业中，消费电子的股价表现有些落后，且估值相比电子行业其他板块相对偏 低。 《每日经济新闻》记者注意到，随着谷歌推出Gemini3（新一代大型语言模型）、豆包推出手机AI助手 技术预览版等，AI终端预期提升，AI手机、AI眼镜等消费电子终端产品将成为互联网公司流量入口的 必争之地。 谷歌还与中国企业XREAL合作开发AR眼镜产品Project Aura，该产品将是全球首款搭载Android XR平台 以及Gemini AI的消费级AR眼镜产品，预计将在2026年正式面向市场。XREAL是连续4年稳居全球AR市 场份额榜首的企业，Project Aura将是谷歌AI生态的关键落地产品。 展望2026年，消费电子行业将迎来产品创新周期、行业复苏、终端产品涨价等多重驱动，产业链估值有 望提升。 大厂将陆续推出新品 在AI赋能下，消费电子正迎来一轮创新周期，包括AI手机、AI眼镜、AI音箱、AI玩具等。此外，折叠 屏手机也有望向主流靠近。 以智能手机为例，方正证券指出，复盘全球智能手机出货量历史，2 ...

王涵 随着人工智能技术的发展，年轻一代消费者看重的"情绪价值"有了更为具象的兑现方式。越来越多的年 轻人通过与AI聊天，来缓解孤独感和释放压力。复旦大学等机构在今年1月发布的《中国青年网民社会 心态调查报告（2024）》显示，37.9%的年轻人愿意向AI虚拟人倾诉烦恼，超13.5%的受访者更倾向于 选择AI而非父母作为倾诉对象。在如此旺盛的市场需求下，陪伴型AI也被视为情感经济下一个风口。 一些年轻人把陪伴型AI当作情感"救急包"，主要有两个原因：一方面，AI"永不评判，永远倾听"的对话 特点，能够缓解他们的孤独感；另一方面，它们的陪伴更灵活，可以随时点开对话框倾诉，不用顾虑打 扰对方。目前，科学家普遍认为，AI伴侣的影响往往取决于使用者的心理状态、使用方式，以及AI软 件本身的设计特点。而考虑到在快节奏的现代生活中，独居、高压、社交圈狭窄成为不少年轻人的常 态，AI伴侣很可能会导致用户产生过度依赖问题。事实也是，陪伴型AI产品的伦理风险是其发展道路 上绕不过去的一道坎。 某种程度上，从工具到"伴侣"，推动人机互动变化的背后是技术迭代升级的自然结果，并非是产品设计 在个性化方面做出了突破。从市场情况来看，AI ...

Core Viewpoint - The AI toy sector has emerged as a highly attractive investment area, driven by the maturity of large models and the demand for innovative applications in consumer electronics, with a projected market size of nearly $20 billion in 2024 and expected to reach $35.11 billion by 2030, potentially exceeding $60 billion by 2034 [5][9][20]. Investment Trends - The AI toy sector has seen a significant increase in financing events, with 19 occurrences in 2025, up from 14 in 2024 and just 3 in 2023, indicating a resurgence of investor interest [9]. - Notable investments have been made by leading firms such as Sequoia China, GSR Ventures, and Didi Chuxing, highlighting the competitive landscape of the sector [9][15]. Company Highlights - Lingyu Universe, founded in 2023, has rapidly completed three rounds of financing, achieving a valuation of 1.2 billion RMB ($170 million) within six months [11][12]. - Haivivi, another key player, transitioned from a children's hardware company to focus on AI toys, launching the successful BubblePal product, which has sold over 300,000 units and generated over 100 million RMB ($14 million) in revenue [12][19]. Market Dynamics - The AI toy market is characterized by high competition and a diverse range of products, with many companies emerging since 2021, including Robopoet and Mengyou Intelligent [13][15]. - The sector is witnessing a blend of financial and industrial investments, with companies like Huawei and ByteDance collaborating on AI toy development, indicating a strategic push towards integrating AI into consumer products [19][20]. Consumer Engagement - The primary target demographic for AI toys is children aged 2-8, but there is potential for expansion into broader markets as companies seek to enhance user engagement and retention [21][22]. - Key performance indicators for success in the AI toy market include user retention rates and engagement metrics, which are critical for establishing long-term product viability [22].

如果盘点2025年，投资热情最高，资金集中度拉满的赛道，必然无法绕开AI玩具。 作为大模型成熟之后，商业化落地最便捷的领域，被赋予「AI灵魂」的「智能玩具」，过去两年成为创业热情最高涨的所在。一批 新公司密集涌现，顺势点燃了机构的投资热情。 或者说，在经历AI六小龙的短暂辉煌继而快速沉寂之后，大家不得不接受一个现实：大模型通用APP的机会还是掌握在阿里、字节 和腾讯等大公司手里。 但是大模型水平已经越来越成熟，token消耗量摆在那里，总要找到新的应用机会。AI玩具就是被证明，有市场需求，产业链也有支 撑，能快速交付产品并推向市场的理想投资赛道。 根据Statista的预测数据，2024年全球AI玩具市场规模已接近200亿美元。预计未来十年内，市场将以约14%—16%的复合年增长率持 续攀升，到2030年，全球AI玩具市场规模将有望达到351.1亿美元，到2034年可能突破600亿美元。 投资机构终于迎来久违的一次狂欢。甚至一些此前在一线市场并不是很活跃的生面孔，也开始出现在融资新闻。 毕竟，没有投资人愿意错过下一个「Labubu」。 AI玩具赛道融资双雄 与自创立起便以打造新一代的人机交互硬件OS的灵宇宙不 ...