Core Insights - Multi-Agent systems have emerged as a significant trend in the AI field, enhancing the efficiency and effectiveness of AI applications [2][3]. - Agnes AI, a product developed by SapiensAI, has gained traction with over 300 million registered users and 200,000 daily active users within four months of launch [7][6]. Group 1: Agnes AI Features - Agnes AI integrates various functionalities such as Deep Research, Wide Research, AI Design, AI Slides, and AI Sheets, catering to different user needs [8][14]. - Deep Research focuses on in-depth analysis through iterative questioning, while Wide Research utilizes multiple agents to handle large-scale tasks simultaneously [14][16]. - The platform emphasizes user intent understanding and task complexity to optimize the assignment of tasks to agents [15][16]. Group 2: Market Position and User Base - Agnes AI targets young users and professionals, particularly in mobile and web-based work environments, promoting a lightweight approach to productivity [7][41]. - The product aims to replace traditional office tools, offering a free quota for users, which enhances user acquisition and retention [40][56]. - The AI office market is expected to grow significantly, with traditional products facing disruption from AI-native solutions like Agnes [42][44]. Group 3: Competitive Advantages - Agnes AI's multi-agent architecture allows for parallel task execution, improving speed and efficiency compared to single-agent systems [25][27]. - The product's design prioritizes user experience, aiming for rapid response times and high-quality outputs, which are critical in competitive markets [22][36]. - The company focuses on low customer acquisition costs and aims to capture a significant share of users who have yet to engage with AI technologies [50][52]. Group 4: Future Outlook - The AI market is anticipated to evolve rapidly, with Agnes AI positioned to capitalize on the shift towards AI-native applications [42][46]. - The company envisions becoming a leading player in the AI consumer app space, aiming to exceed the capabilities of existing products like ChatGPT and Perplexity [63][64]. - Agnes AI's long-term goal is to enhance accessibility to AI tools globally, particularly in developing regions, thereby expanding its user base [57][66].

证 券 研 究 报 告 计算机行业周报（20250707-20250711） Grok 4 发布：xAI 引领 Agent 加速落地 行业研究 计算机 2025 年 07 月 13 日 | % | 1M | 6M | 12M | | --- | --- | --- | --- | | 绝对表现 | 8.2% | 4.0% | 51.4% | | 相对表现 | 6.1% | 5.5% | 37.8% | 推荐（维持） 华创证券研究所 证券分析师：吴鸣远 邮箱：wumingyuan@hcyjs.com 执业编号：S0360523040001 联系人：周志浩 邮箱：zhouzhihao1@hcyjs.com 行业基本数据 | | | 占比% | | --- | --- | --- | | 股票家数(只) | 338 | 0.04 | | 总市值(亿元) | 45,343.43 | 4.40 | | 流通市值(亿元) | 39,023.53 | 4.82 | 相对指数表现 -9% 21% 52% 82% 24/07 24/09 24/12 25/02 25/04 25/07 2024-07-15~2025-07-11 ...