AI医疗的繁荣之下，投资人仍在探究企业的商业底色 编｜王小 一轮轮的寒潮不断将气温拉低，2025年慢慢走进尾声，此前传出年内有望启动IPO(首次公开募股)的两家医疗科技企业——丁香园和医联，似 乎凝滞了。 医联相关负责人对《财经》表示，目前没有具体信息可以披露。丁香园未予回应。 文｜《财经》记者 辛颖 同赛道的微医控股（下称"微医"）在9月底更新招股说明书，冲击港交所，正在焦灼地等待结果。 互联网卖药越来越火热，"互联网医疗"却还是在资本市场溅不起水花。微医、丁香园、医联不约而同转向了一个热度更高的赛道——AI医疗。 "AI医疗的热度，在项目路演现场就能感受到。"一位专注港股IPO业务人士介绍，像互联网医疗企业，如果有一些创新的AI技术与业务融合， 肯定是更投资人欢迎。 港股市场目前整体情况较好，IPO发行有很多是超额认购。冠上AI医疗概念的健康160、健康之路、方舟健客，近一年已陆续在港股挂牌上 市。 微医、微脉、镁信健康等也纷纷向港交所递表排队中。这些互联网医疗赛道曾经的战友们，虽然主攻的方向已经截然不同，不约而同开始努力 凸显自己的AI实力，奔向香港。 借AI押注IPO 微医，已经脱胎成一家AI医疗企业 ...

Group 1: Meta's AI Integration - Meta will officially incorporate "AI-driven impact" into employee performance metrics starting in 2026, assessing how employees utilize AI to enhance work outcomes and team productivity [1] - The company has launched the "Level Up" game project and AI performance assistant tools this year to encourage employees to use the internal AI chatbot Metamate as much as possible [1] - Meta has begun allowing some job candidates to use AI assistants during coding interviews, believing this better represents a real development environment [1] Group 2: Google NotebookLM Features - Google NotebookLM introduced image data source functionality on November 15, enabling automatic OCR and semantic parsing, allowing users to retrieve content from images using natural language [2] - The underlying multimodal model can distinguish between handwritten and printed areas, extract table structures, and automatically link with existing text, audio, and video notes [2] - Within 48 hours of the feature launch, educational accounts uploaded over 500,000 pages of images, a 340% increase, with plans to integrate AR glasses for real-time "see and ask" capabilities next year [2] Group 3: Alibaba's Qianwen App Launch - Alibaba's Qianwen app public beta has launched, built on the Qwen3 model, providing an all-in-one entry point for users to experience a full suite of AI capabilities for free [3] - The application will gradually cover various life scenarios including office work, maps, health, and shopping, aiming to make AI a daily companion [3] - Qianwen will continue to evolve and integrate the latest Qwen models, currently available for search and download in major app stores in China [3] Group 4: Zhiyu GLM Coding Plan - Zhiyu has launched the "GLM Coding Plan·Special Edition" subscription package, offering a 50% discount for first-time buyers, with a minimum monthly cost of only 16 yuan [4] - Powered by the flagship model GLM-4.6, it ranked first globally in the LMArena evaluation alongside Claude Sonnet 4.5 and GPT-5, supporting 200K long context [4] - The model is officially compatible with over 10 mainstream AI programming tools, with several US tech companies like Cerebras and Vercel adopting GLM-4.6 [4] Group 5: Xiaomi's Miloco Solution - Xiaomi has launched its first "large model + smart home" solution, Miloco, using the Mijia camera as a visual information source, with the self-developed large language model MiMo-VL-Miloco-7B at its core, and the framework is open-sourced [5] - Users can communicate with the smart home system through natural language, allowing the system to automatically fulfill various smart needs and rules while ensuring privacy through visual data understanding [5] - Xiaomi's AIoT platform has connected nearly 1 billion IoT devices, and Miloco achieves interoperability between the Mijia ecosystem and Home Assistant ecosystem through standardized MCP protocols, supporting third-party IoT platform integration [5] Group 6: MiroMind's MiroThinker v1.0 - MiroMind has officially launched the open-source intelligent agent base model MiroThinker v1.0, introducing a new dimension of "deep interaction scaling," supporting 256K context and 600 tool calls [6] - In the BrowseComp test, it achieved an accuracy rate of 47.1%, nearing OpenAI DeepResearch's 51.5%, while surpassing DeepSeek-v3.2 by 7.7 percentage points in Chinese tasks [6] - The model adopts a fully open-source architecture, providing all model weights, toolchains, and interaction frameworks, with the 72B version approaching or even surpassing OpenAI DeepResearch, promoting intelligent agents from passive execution to active learning evolution [6] Group 7: MedGPT's Clinical Success - The core model of Future Doctor AI Studio, MedGPT, has outperformed GPT-5 and other leading international models in a multi-model practical evaluation conducted by 32 top domestic clinical experts, achieving the global first in clinical safety and effectiveness assessment [7] - It has launched two products: a clinical decision AI assistant and a patient follow-up AI assistant, providing safe and effective decision support during diagnosis and supporting patient follow-up for chronic disease management [7] - MedGPT has been adopted by dozens of national discipline leaders for daily use and is recognized by experts as the "best practice" for AI empowering grassroots healthcare, aligning with the National Health Commission's guidelines for promoting and regulating AI in healthcare [7] Group 8: Li Feifei on AGI - Li Feifei stated in an interview that AGI is "more of a marketing term than a scientific term," emphasizing that the current AI's biggest shortcoming is the lack of spatial intelligence, which allows humans to navigate and manipulate in a three-dimensional world [8] - She outlined three core capabilities of world models: generative, multimodal, and interactive, arguing that relying solely on data and computing power will not lead to the maturity of robots, which are physical systems needing bodies and application scenarios [8] - The first large-scale world model product, Marble, released by World Labs, has been widely applied in film production, game development, scientific research, and robot training, reducing creation time by 40 times [8]

衡宇 发自 凹非寺 量子位 | 公众号 QbitAI 与此同时，慢病患者增多、随访任务越来越重，也让诊室之外的工作变得越来越难应付。 在多数基层门诊里，一个医生往往要从早忙到晚，患者一拨接一拨。 就在这样的日常困境里，一条政策落地了。 本月，国家卫健委发布了《促进和规范"人工智能+医疗卫生"应用发展的实施意见 （以下简称"实施意见"） 》。 其中，"人工智能+基层应 用"被列为八大重点方向之首 。 国家层面还点明： 到2030年，基层诊疗智能辅助应用基本实现全覆盖。 而将其转化为临床实效，才是真正的考验。政策在推进，临床仍然拥堵；科研在进步，基层依旧高负荷。 基层医生真正需要的AI，一定不是炫技的AI，而是能在临床真正派上用场的助手。 可怎样的AI才能做到后者？ 病种繁杂、节奏飞快，查文献、请会诊这些理想中的操作，根本挤不进大夫有限的工作时间。 量子位走访多名专家，得到了一个统一的答案： 能真正帮到中国基层医生的AI，必须同时做到两件事 。 可目前的AI，能在诊中给出有依据、可溯源、不误判的建议了吗？能在诊后帮忙顶住随访的压力、把慢病管得住吗？ 最近，不少专家和基层医生，都在使用一个AI系统来把这两件事真正跑 ...

Government Initiatives - The State Council issued opinions to accelerate the cultivation and large-scale application of new scenarios, emphasizing the importance of connecting technology and industry for promoting commercialization of new technologies and products [1] - The Ministry of Industry and Information Technology (MIIT) announced plans to enhance the systematic layout and high-level construction of manufacturing pilot platforms, aiming to establish a modern pilot platform system by the end of 2027 [1] - MIIT initiated the 2025 AI industry and new industrialization innovation tasks, focusing on key areas such as AI infrastructure and "AI + manufacturing" to foster technological innovation and application [1] Local Actions - Jiangsu Province is promoting a new paradigm for immersive sports event consumption by integrating technologies like AI, big data, and digital twins into sports event activities [4] - Guangdong Province is collecting quality projects for smart tourism, focusing on new information technologies such as cloud computing, AI, and the metaverse to enhance tourism experiences [5][6] Industry Developments - Neuralink has implanted devices in 12 individuals, enabling them to regain abilities and pursue careers, showcasing advancements in brain-machine interface technology [9] - A new clinical safety-effectiveness dual-track benchmark was established by 32 clinical experts, with a Chinese model, MedGPT, achieving the highest score, indicating significant progress in domestic medical AI capabilities [10] Insights from Experts - Academician Zhang Rong highlighted the synergy between AI and Micro-LED technology, predicting breakthroughs in both fields due to their mutual reinforcement [11] - The next generation of remote sensing systems is evolving into intelligent agents capable of understanding and reasoning, driven by advancements in AI and remote sensing technologies [13] Technological Innovations - A new AI model developed by DeepMind successfully predicted hurricane paths and intensity, demonstrating the potential of AI in disaster management [15] - Huawei Cloud introduced a versatile intelligent platform aimed at addressing challenges in AI deployment, focusing on reducing development barriers and enhancing edge capabilities [16]

Core Viewpoint - The article emphasizes the importance of AI in grassroots healthcare, highlighting the need for safety, effectiveness, and human-AI collaboration as essential criteria for successful implementation [2][4][44]. Policy and Market Context - On November 4, the National Health Commission issued a document outlining the core goal for the next five years: "AI + grassroots application," placing it at the forefront of the eight key directions for "AI + healthcare" [4]. - The document aims for "intelligent auxiliary applications in grassroots diagnosis and treatment to achieve basic coverage by 2030" [5]. Current Challenges - Despite the policy push, there is a significant gap in AI adoption at the grassroots level, with over 80% of grassroots doctors not using AI, and those who do often rely on generic models that lack precision [7]. - The article notes a "reverse situation" where major hospitals are rapidly adopting AI, while grassroots healthcare remains largely untouched by the AI wave [7]. AI Product Features - The "Future Doctor AI Studio" is presented as a reliable tool that aligns with the policy blueprint, focusing on safety and effectiveness [9]. - MedGPT, the underlying model of the Future Doctor AI Studio, has been rigorously tested for safety and effectiveness, outperforming five major global models in clinical scenarios [12][14]. Safety and Effectiveness - MedGPT achieved the highest scores in safety (0.912) and effectiveness (0.861) during evaluations, significantly surpassing other models [17]. - The article stresses that true medical AI must prioritize safety and effectiveness, with clinical value as the benchmark for technological iterations [11][13]. Human-AI Collaboration - The article highlights the importance of human-AI collaboration, stating that AI should serve as a "super assistant" to doctors, enhancing their capabilities rather than replacing them [39][40]. - The Future Doctor AI Studio's clinical decision-making assistant is designed to support grassroots doctors by providing structured decision reports based on high-level medical evidence [22][25]. Clinical Decision Support - The clinical decision AI assistant can generate comprehensive decision reports for complex cases, demonstrating expert-level reasoning and reliable decision-making [23][30]. - Recent evaluations showed that the assistant outperformed competitors in various clinical scenarios, confirming its effectiveness in real-world applications [27]. Patient Follow-Up - The patient follow-up AI assistant addresses the critical "last mile" of healthcare, ensuring continuous patient management and communication [32][35]. - It automates follow-up tasks, provides personalized health management plans, and alerts doctors to high-risk signals, thereby enhancing patient care [36][38]. Conclusion - The article concludes that the integration of AI in grassroots healthcare represents a best practice for empowering medical professionals and improving patient outcomes, with a strong emphasis on safety, effectiveness, and collaboration [44].

Core Viewpoint - The article discusses the gap between the real capabilities of medical AI and clinical expectations, highlighting the need for a new evaluation standard for medical AI that reflects its clinical applicability and safety [1][10][17]. Group 1: Medical AI's Current Challenges - Many AI models that perform well in standardized exams often reveal issues such as reasoning errors, misdiagnosis, and inappropriate treatment plans in real clinical settings [2][9]. - The recent update from OpenAI prohibits ChatGPT from assisting in medical diagnostics, indicating a cautious approach towards AI's involvement in serious medical fields [2][10]. Group 2: New Evaluation Standards - A new evaluation standard, the Clinical Safety-Effectiveness Dual-Track Benchmark (CSEDB), has been developed by top Chinese clinical experts to assess the clinical applicability of medical AI [5][10]. - This new standard introduces a dual evaluation system focusing on both safety and effectiveness, moving beyond traditional exam score metrics [11][12]. Group 3: MedGPT's Performance - MedGPT, a model developed by a Chinese company, achieved the highest score of 0.895 in the CSEDB evaluation, outperforming other models by over 15 percentage points [19][22]. - MedGPT is the only model to score higher in safety than in effectiveness, demonstrating a cautious approach in clinical scenarios [24][26]. Group 4: Future of Medical AI - The future of medical AI lies in its ability to replicate the expertise of top clinicians, creating new medical resources and serving as a reliable assistant for healthcare professionals [34][46]. - The "Future Doctor" platform aims to scale the clinical experience and decision-making capabilities of expert doctors through AI, ensuring that all patient interactions are handled by real doctors [41][45]. Group 5: Industry Impact - The establishment of the CSEDB standard represents a significant step towards a more mature medical AI industry, allowing for better evaluation and optimization of AI models [54][55]. - The evolution of medical AI from merely simulating doctor responses to actively participating in clinical reasoning marks a pivotal moment in the industry [56][57].

人工智能技术（AI）的发展正在赋能千行百业升级转型，在卫生健康领域，AI正让医疗普惠成为可 能。 近期，国务院发布的《关于深入实施"人工智能+"行动的意见》提出"探索推广人人可享的高水平居民健 康助手"。去年底，国家卫健委、国家中医药局、国家疾控局联合发布《卫生健康行业人工智能应用场 景参考指引》（下称"《指引》"），聚焦"人工智能﹢"与医疗服务管理、基层公卫服务、健康产业发 展、医学教学科研相结合的四大领域，为卫生健康行业人工智能应用提供了具体的场景和规范。 中国信通院云计算与大数据研究所副所长闵栋日前表示，自今年2月起，全国已有几百家医疗机构部署 了国产大模型，在诊疗服务、患者服务、医院管理、教学科研等方面均得到不同程度的提质增效，实现 从单点突破到全流程覆盖的应用模式转变。 医联集团CEO王仕锐近日对证券时报记者表示，医疗服务领域长期存在着"不可能三角"——优质、便 宜、可及的医疗服务，不能同时满足，这制约了行业的发展。即便前几年兴起的互联网医院，也无法很 好实现优质医疗服务资源的普惠，但AI医疗工具或可实现优质医生服务的规模化。 不过，医疗作为容错率低、关乎生命安全的严肃领域，对AI的应用也会慎之又慎 ...

Core Viewpoint - The launch of the "Future Doctor" online consultation service by Yilian Group represents a significant advancement in healthcare accessibility, leveraging the MedGPT model to provide free consultations with top experts, addressing issues of resource inequality and service quality in the medical field [1][4]. Group 1: Technological Innovation - The "Future Doctor" service is powered by MedGPT, the first generative vertical medical model approved for disease diagnosis and treatment suggestions in China, which has undergone six years of simulation and three years of human-machine collaboration [2]. - MedGPT features a "fast-slow dual system" architecture, combining rapid understanding of patient descriptions with rigorous diagnostic reasoning, achieving a 96% consistency rate in clinical trials with top physicians [2]. Group 2: Human-Machine Collaboration - The service enhances efficiency through human-machine collaboration, where AI acts as a "super assistant," allowing experts to focus on core decision-making while AI handles preliminary tasks [3]. - The platform has onboarded over 100 national-level experts, utilizing an "expert intelligent avatar" system to streamline the entire consultation process, thereby improving service efficiency and reducing costs [3]. Group 3: Accessibility and Equity - The "Future Doctor" platform aims to break down barriers to healthcare access, particularly for patients in remote areas, by providing immediate connections to top experts through AI technology [4]. - The platform currently covers 25,000 diseases and plans to expand into primary care collaboration and chronic disease management, promoting expert services as a foundational capability in a digital society [4].