随着 AI 大模型能力完善，在模型基础上具备较强实操能力的 AI应用日渐显现，相 关领域公司有望借助 AI 提升制作效率。 投资要点： 股票研究 /[Table_Date] 2026.03.22 [Table_Invest] 评级： 增持 [Table_Report] 相关报告 AI 视频制作流程日趋完善，常青游戏担当开年主力 [Table_Industry] 传播文化业 传媒行业周报 2026 年 11 期 | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 陈筱(分析师) | 021-38675863 | chenxiao@gtht.com | S0880515040003 | | 陈俊希(分析师) | 021-38032025 | chenjunxi@gtht.com | S0880520120009 | | 陈星光(分析师) | 021-23219104 | chenxingguang@gtht.com | S0880525040043 | | 李瑶(分析师) | 021-23185669 | liyao6@gtht.c ...

Group 1 - The China Development Forum 2026 will be held from March 22 to 23 in Beijing, focusing on "The 14th Five-Year Plan of China: High-Quality Development and Co-Creating New Opportunities" [2] - The U.S. has conditionally relaxed oil sanctions on Iran for 30 days, allowing the delivery and sale of Iranian crude oil and petroleum products already loaded by March 20 [3] - The Iranian nuclear facility at Natanz was attacked, with Iran claiming it violated international laws, while the U.S. and Israel plan to significantly increase military actions against Iran [4] Group 2 - The Chinese government is encouraging multinational companies to increase investments in China, highlighting the stable and improving economic environment [5] - The insurance industry is experiencing pressure due to solvency regulations, but major players maintain that the impact on the market is limited [4] - The Ministry of Ecology and Environment is enhancing support for green and low-carbon development among private enterprises [9] Group 3 - The international oil price has surged due to escalating conflicts in the Middle East, raising concerns about inflation in the U.S. and potential interest rate changes by the Federal Reserve [14][15] - The World Trade Organization warns that the Middle East conflict could impact global trade through rising oil prices and fertilizer supply shortages [15] - Brazilian President Lula emphasizes the need for strategic oil reserves in response to the ongoing Middle East conflict [17]

一个引擎，全域经营。 3月20日，上海前滩香格里拉的会场里，一种久违的、属于"技术派"的兴奋感重新回到了电商圈。 阿里妈妈发布了名为"AI万相"的超级经营智能体引擎。如果用一句话概括这背后的野心，那便是：阿里妈妈正在试图用一种"多智能体协同"的新范式，重 塑AI时代的经营。 就在半年前，行业还在讨论AI如何生成一张海报、写一段文案；而今天，阿里妈妈给出的答案是——AI要直接交付生意，"确定性"生意。 这不禁让人联想到最近钉钉发布的"悟空"智能体：在协同办公领域，AI正在从一个"对话框"变成一个能跑通流程的"数字员工"。而阿里妈妈的"AI万相"， 则是把类似的逻辑嵌入到了更瞬息万变的商业博弈场。 搜索框革命： 当商业决策走向"意图截击" 第二步，核心进阶出现了，"万相智品"（商品理解Agent）。AI不再只是看SKU名称，而是深度扫描了ubras"小奶皮"系列的产品详情、实验报告甚至专 利，将这款内衣从类目中"解构"，提取出"微胶囊护肤"、"2.5倍高倍锁水"等底层基因。 至此，资产重塑完成：ubras 小奶皮从单纯的内衣，进化为 呵护皮肤的穿戴品 。 之后，由"万相智造"（创意生成Agent）和"万相智投"（ ...