Core Viewpoint - Qiming Venture Partners is one of the earliest and most diversified investment institutions in the AI field in China, having invested in over 100 AI projects, covering the entire AI industry chain and promoting the rise of several industry benchmark companies [2]. Group 1: AI Trends and Forecasts - Forecast 1: In the next 12-24 months, a context window of 2 million tokens will become standard for top AI models, with more refined and intelligent context engineering driving AI model and application development [3]. - Forecast 2: A general video model is expected to emerge within 12-24 months, capable of handling generation, reasoning, and task understanding in video modalities, revolutionizing video content generation and interaction [4]. - Forecast 3: In the next 12-24 months, the form of AI agents will evolve from "tool assistance" to "task undertaking," with the first true "AI employees" entering enterprises, participating in core processes such as customer service, sales, operations, and R&D [5]. - Forecast 4: Multi-modal agents will become increasingly practical, integrating visual, auditory, and sensor inputs for complex reasoning and task execution, achieving breakthroughs in industries like healthcare, finance, and law [5]. Group 2: AI Infrastructure and Interaction - Forecast 5: In the AI chip sector, more "nationally designated" and "nationally produced" GPUs will begin mass delivery, while new AI cloud chips focusing on 3D DRAM stacking and computational fusion will emerge in the market [6]. - Forecast 6: In the next 12-24 months, token consumption will increase by 1 to 2 orders of magnitude, with cluster inference optimization, terminal inference optimization, and soft-hard collaborative inference optimization becoming core technologies for reducing token costs in AI infrastructure [6]. - Forecast 7: The shift in AI interaction paradigms will accelerate in the next two years, driven by reduced reliance on mobile screens and the rising importance of natural interaction methods like voice, leading to the birth of AI-native super applications [7]. - Forecast 8: The potential for AI applications in vertical scenarios is immense, with more startups leveraging industry insights to quickly achieve product-market fit, adopting a "Go Narrow and Deep" strategy to differentiate from larger companies [7]. Group 3: AI Business Process Outsourcing and Robotics - Forecast 9: The AI BPO (Business Process Outsourcing) model is expected to achieve commercial breakthroughs in the next 12-24 months, transitioning from "delivery tools" to "delivery results," expanding rapidly in standardized industries like finance, customer service, marketing, and e-commerce through a "pay-per-result" model [8]. - Forecast 10: Embodied intelligent robots will first achieve large-scale deployment in scenarios such as picking, transporting, and assembling, accumulating vast amounts of first-person data and tactile operation data, creating a closed-loop flywheel of "model - ontology - scene data" that will drive model capability iteration and ultimately promote the large-scale landing of general-purpose robots [8].

Core Insights - AI startups attracted 53% of global venture capital funds in the first half of 2025, indicating a significant investment trend in the AI sector [1] - The emergence of general video models is expected within 12-24 months, which will revolutionize video content generation and interaction [1][4] - The AI BPO model is projected to achieve commercialization breakthroughs in the next 12-24 months, shifting from "delivery tools" to "delivery results" [6] Investment Trends - The rapid growth of token consumption by leading models in the US and China, with Google and Doubao experiencing increases of 48 times and 137 times respectively, highlights the dual drivers of model capability enhancement and new application emergence [4] - The AI investment landscape is evolving, with a focus on vertical applications where startups leverage industry knowledge to differentiate themselves from larger companies [5] Technological Advancements - The development of AI agents is anticipated to transition from "tool assistance" to "task undertaking," with the first true "AI employees" expected to participate in core business processes [4] - AI infrastructure is set to see advancements in GPU production and new AI cloud chips, which will enhance performance and reduce costs [6] Market Applications - AI applications are increasingly embedded in daily life, with healing and companionship becoming significant use cases by 2025 [5] - The shift in AI interaction paradigms is expected to accelerate, reducing reliance on traditional devices and promoting the rise of AI-native super applications [6]

"启明创投.创业与投资论坛——创业投资开启AI技术与应用共振周期"7月28日在2025世界人工智能大会 前期间举行。启明创投主管合伙人周志峰在论坛上发布了2025启明创投AI十大展望。周志峰表示，通 用视频模型有望在12—24个月内出现，该模型可处理视频模态下的生成、推理与任务理解，促进视频内 容生成与交互的革新。此外，具身智能机器人将率先在拣选、搬运、组装等场景实现规模化部署，积累 大量机器人第一视角数据与带触觉的操作数据，构建"模型—本体—场景数据"的闭环飞轮。这一飞轮将 驱动模型能力迭代，最终推动通用机器人迈向大规模落地。(人民财讯) ...

Core Insights - The 2025 World Artificial Intelligence Conference (WAIC) hosted by Qiming Venture Partners highlighted significant advancements in AI technology and applications, predicting a resonance cycle in entrepreneurship and investment in the AI sector over the next 12-24 months [1] Group 1: AI Models and Agents - Qiming Venture Partners predicts that the context window of 2 million tokens will become standard for top AI models within the next 12-24 months, driving the development of more sophisticated context engineering [3] - A general video model capable of generating, reasoning, and understanding tasks in video modalities is expected to emerge in the same timeframe, revolutionizing video content generation and interaction [3] - AI agents are anticipated to evolve from "tool assistance" to "task execution," with the first true "AI employees" entering enterprises to participate in core processes such as customer service, sales, operations, and R&D, thus shifting from cost tools to value creation [3][4] Group 2: AI Infrastructure - In the AI chip sector, more domestically designed and manufactured GPUs are expected to begin mass delivery, alongside innovations in new-generation AI cloud chips [4] - The demand for computational power is projected to increase by 1 to 2 orders of magnitude in token consumption over the next 12-24 months, with optimization techniques becoming crucial for reducing token costs [4] Group 3: AI Applications - The transition in AI interaction paradigms is expected to accelerate, leading to the emergence of AI-native super applications as user reliance on mobile screens decreases and natural interaction methods gain importance [4] - Vertical scene AI applications are seen as having significant potential, with more startups leveraging industry knowledge to quickly match products with market needs, creating differentiated competition against larger firms [5] - The AI BPO (Business Process Outsourcing) model is projected to achieve commercialization breakthroughs, shifting from "delivery tools" to "delivery results" with a pay-per-result approach in standardized industries like finance and customer service [5] Group 4: Embodied Intelligence - The application prospects for embodied intelligence are considered promising, with predictions that robots will first achieve practical applications in picking, handling, and assembly, accumulating valuable operational data to drive model capability iterations [5] Group 5: Investment Landscape - Qiming Venture Partners has invested in over 100 AI projects, covering the entire AI industry chain, including AI platforms, autonomous driving, enterprise services, vertical industries, foundational software, healthcare, and consumer applications [5]