The Zhitong Finance App learned that SDIC Securities released a research report saying that AIGC is in full swing at home and abroad, and now (April 2024) is about to enter an aggressive period of application implementation. The big model is the “main track” of AI technology today. From ChatGPT to Sora and Kimi, the pattern of big model manufacturers at home and abroad is basically clear; however, the application of big models, as the “vanguard” of AI application implementation, “just hearing its voice and not seeing its people.” From the iterative return of the industrial map to the present, in 2024-2025, there are 2 landing lines and 8 landing directions in China. The 8 major landing scenario models can include all AI application implementations.

The main views of SDIC Securities are as follows:

SDIC Securities pointed out that the difficulty of implementing AI is a specific and real practical problem, so it introduced the “transactional mindset” way of thinking. Instead of falling into the anxiety caused by “media thinking”, it is better to use rational analysis (“economic thinking”, “social thinking”); every thinker, if a stakeholder, has failed in a situation where the “background board” has completely changed, and will face a situation of “moving more and making more mistakes”. From a constructive perspective, they can only push a new “background board” — an industry map for the next 3-5 years — and then iteratively return to the present to guide their own decisions. An industry map is a “worldview”. Its specific guiding significance also requires the construction of different “observation points” — each stakeholder captures different guidelines based on their own different observation points.

What part of the process was carried out when the current big model was launched?

Now that the giants have entered the market and the pattern is basically clear, they are about to break into a new phase of “application implementation”; the first thing needed to launch a big model is “space,” or a computing platform; Microsoft is leading the way, but the giants are rivals; domestic applications are relatively smooth in the field of education; but when it comes to implementing big models at home and abroad, each has advantages and difficulties.

What exactly are the difficulties in landing the big model?

1) AI is reshaping the “supply side”, with only a time window and no specific time, and will be the first to break through in some unspecified direction in “chaos”; 2) AI, as productivity, requires a “gripper”, similar to the “big resource discoveries” of the Age of Discovery, such as short videos, live broadcasts in the mobile internet era, and waiting for the “gripper” in PCs, phones, and glasses; 3) The macroeconomic environment continues to shrink, and the layout on the left side has the risk of “reverse elimination”.

From the iterative return of the industry map to the present, in 2024-2025, there are 2 landing lines and 8 implementation directions. The 8 major implementation scenario models can include all AI application implementations; stakeholders use “transactional thinking” to make decisions based on their own observation points, and can also use the latest decisions of domestic and foreign giants as an auxiliary reference.

Investment advice:

The second quarter is an important logical transition time window. SDIC Securities predicts that it will shift from trending “mapping” to “individual stock markets”, focusing on China Film (600977.SH), China Media Holdings (000607.SZ), Zhejiang Digital Culture (600633.SH), Anhui New Media (), China Science and Technology ($100), Tang De Film and Television (300426.SZ); Huanrui Century (000892.SZ), Yuanlong Yatu (002878.SZ), Shunwang 601900.SH 601801.SH 601858.SH Technology (300113.SZ), Electronic Soul Network (603258.SH), Zhaoxun Media (301102.SZ), Threesomes (605168.SH), Longyun (603729.SH); Fourth Model (06682), Shang Tang (00020), Ning Meng Film and Television (09857).

Risk warning: risk of changes in underlying logic, risk of corporate governance, risk of path dependency.