中国银河证券指出，国内AI+教育、人力资源产品商业化持续推进，下半年大模型技术有望进一步推动 相关AI应用迭代发展。Q2以来AI+教育、人力资源应用商业化落地持续加速：1）豆神教育AI CLASS产 品（超练阅读+超级作文）正式上线至7月30日GMV突破1740万；2）粉笔AI+考公产品，AI刷题系统班 4月上线，两月销售额已超1400万元，付费学员数突破4万，全年销售有望破亿；3）AI+人力资源，科 锐国际禾蛙平台发布AI 2.0推出的9大招聘全流程工具，同时其Match System已在在获客、人才寻访和内 部协同等多个场景中得到应用，下半年该系统预计将接入禾蛙平台。公司利用大模型在语义理解和信息 匹配上的优势，得以智能替代重复工作并缩短招聘周期、大幅优化人岗匹配的精度和效率。考虑 OpenAI、Deepseek将分别于年内发布最新大模型技术，叠加AI应用产品通过用户数据积累持续迭代产 品功能，我们预计AI+教育、人力资源有望从主题投资过度至商业化兑现。 ...

Core Insights - The human resources service industry is experiencing a transformation driven by AI technology, which enhances efficiency and optimizes user experience through data-driven and intelligent decision-making [1][2] - Leading companies in the industry are expected to benefit significantly from the ongoing AI-driven changes, as smaller firms may lack the necessary R&D capabilities [1][2] Group 1: AI Empowerment in HR Services - The core of AI empowerment in HR services lies in reshaping management paradigms by integrating technology with personalized services, thereby unlocking higher strategic value from human capital [1] - Companies like Workday and ADP have successfully leveraged AI to enhance their business operations and product offerings, establishing competitive advantages through data asset accumulation and multi-scenario penetration [1] - BOSS Zhipin and other leading firms are innovating with AI technologies, such as BOSS Zhipin's proprietary model "Nanbeige," which aims to improve recruitment efficiency and user engagement [2] Group 2: Market Trends and Future Outlook - The human resources service industry exhibits significant cyclical characteristics, with leading companies expected to see improved performance and valuation as macroeconomic conditions stabilize and recruitment demand rebounds [2] - Despite a slower-than-expected recovery in the recruitment market due to macroeconomic disruptions, recent trends indicate a positive shift, suggesting potential growth for industry leaders in the near future [2]