Hu Youwen from Minsheng Securities: AI has reached the critical point of application outbreak

The second issue of the 'Lujiazui Financial Salon' was successfully held in Lujiazui, Pudong, Shanghai in recent days. This issue of the salon focused on the theme of 'Capital Market Era: AI + k Empowering All Industries', and conducted in-depth discussions and exchanges. Hu Youwen, Vice President and Dean of the Research Institute of Minsheng Securities, delivered a keynote speech.

Hu Youwen believes that the current AI industry is developing rapidly. The emergence of the domestic open-source large model DeepSeek has achieved equal computing power and model rights, putting China on the same starting line as foreign countries in the field of large text models.

"While the open-source DeepSeek model reduces costs, the trend of enterprise cloud migration has greatly benefited the cloud computing industry. At the same time, AI integrated machines have also emerged to meet the high data security requirements of central enterprises and governments."

Hu Youwen believes that the AI application is expected to erupt in 2025. On the application side, 2025 is seen as the first year of autonomous driving. First, on the policy side, the L3 road policy will be introduced to help the industry develop; secondly, on the supply side, NOA that does not rely on city maps is about to be fully popularized, and Tesla FSD is also expected to enter China in the first quarter; thirdly, on the demand side, smart driving has become an important factor for consumers to consider when buying a car.

"It can be said that autonomous driving is transitioning from a phase of technological introduction to a period of scalable growth, with the potential to reshape the automotive industry ecosystem, and the profit model is becoming more diverse." Hu Youwen mentioned that, taking Tesla's FSD as an example, it is expected that by 2025, its related business will account for one-fourth of the gross profit of the automotive business, and will create various derivative service revenues following the Apple model. In the future, Chinese car companies are expected to achieve overtaking on the curve in this track.

Humanoid robots are also a hot topic in the current market. Giants such as Tesla, Nvidia, Huawei, and ByteDance are accelerating their layout. Tesla is expected to achieve mass production at the k-level by 2025 and large-scale production in 2026. Humanoid robots will be a disruptive product following computers, smartphones, and new energy vehicles.

In addition, AI has also demonstrated a powerful empowering role in the education, medical, retail, financial, manufacturing, and government sectors. Specifically, in the education sector, the U.S. company Duolingo has achieved high user numbers and revenue growth with the help of new AI functions; in the medical industry, despite facing data difficulties, domestic technology companies have been rising to the challenge, such as Huawei's PanGu large model assisting in drug development, and JD Health releasing the 'JD Health Enquiry' medical large model; in the retail industry, AI can not only optimize resource allocation in the retail industry, but also upgrade the shopping experience comprehensively through precise marketing, intelligent recommendations, and efficient services...

Overall, Hu Youwen believes that artificial intelligence has been integrated into various industries at Depth, and the future of artificial intelligence has arrived, and its development will continue to reshape the pattern of various industries.

Source: Science and Technology Innovation Board Daily

Author: Science and Technology Innovation Board Daily