Societe Generale Securities: Office scenarios may become large-scale AI applications to build major products for major Internet companies

The Zhitong Finance App learned that Societe Generale Securities released a research report stating that the office scene has high usage frequency, high stickiness, high willingness to pay, and broad market space, which is expected to become the application direction for AI to be implemented on a large scale after AIcoding. Major Internet companies occupy a dominant position in the domestic office application market. Under the new trend of combining AI, they have natural traffic advantages. Currently, mainstream office applications are also dominated by products in the big manufacturer ecosystem. Tencent is currently leading the way. As WorkBuddy's competency boundaries continue to expand in various industries, software application vendors are expected to benefit deeply at the same time.

Societe Generale Securities's main views are as follows:

The AI office market is broad and application scenarios are rich, and it is expected to become the next large-scale AI application direction

AI can perform functions in general office scenarios, including AI conference assistants, intelligent search/question-answer/form robots, AI creation, AI knowledge base, AI research, AI contracts, etc., with a wide range of application scenarios. Overseas OpenAI and Anthropic launched ChatGPTwork and Claude Cowork respectively, focusing on task requirements in office scenarios, and the number of users rose rapidly once online. According to Anthropic, the scope of application of AI has switched from code programming to commercial activities such as daily work. The office scene has high frequency of use, high stickiness, high willingness to pay, and broad market space. It is expected to become an application direction for AI to be implemented on a large scale after AIcoding.

Major domestic Internet companies use product ecology and application entry as the core of competition, and integrate internal resources to create major products

Major Internet companies occupy a dominant position in the domestic office application market. Under the new trend of combining AI, they have natural traffic advantages. Currently, mainstream office applications are also dominated by products in the big manufacturer ecosystem. Tencent, Alibaba, and ByteDance have successively shrunk their product lines to create their main products: Tencent WorkBuddy emphasizes ecological co-creation, excels in real work scenarios, and carries out the “Buddy AI” ecological co-creation plan to achieve interoperability with external partners in the three dimensions of industry, service and hardware to help WorkBuddy enter all walks of life; Alibaba Qianwen's office is biased towards corporate scenarios, using Qwen 3.8-Max as the core model to achieve excellent performance in complex office scenarios; ByteDance integrates books and Doubao, which relies on Doubao's strong power Commercialization capabilities and Feishu's accumulated office scene data and experience have achieved rapid growth in AI office business.

Tencent WorkBuddy is currently leading the way. Under the trend of ecological co-creation, ecosystem software vendors are expected to be the first to benefit

Tencent WorkBuddy has cooperated with many software vendors to embed WorkBuddy in enterprise products or deposit the company's vertical industry experience or data into skills, experts, and connectors, enriching WorkBuddy's ability to adapt to scenarios in various industries, while software application vendors have benefited from WorkBuddy's AI empowerment, bringing advantages such as improved application processing efficiency and analysis capabilities. Currently, Tencent's partner ecosystem has covered industries such as finance, law, finance, healthcare, education, manufacturing, consumer electronics, marketing, manpower, and content creation. As WorkBuddy's capacity boundaries continue to expand in various industries, software application vendors are expected to benefit deeply at the same time.

Recommended to follow

1) Office Software: Jinshan Office, Hehe Information, Foxit Software; 2) OA: Pan-Micro Network, Zhiyuan Internet; 3) Enterprise Services: User Network, Hande Information, Dingjie Digital Intelligence, Taiyou Shares, Paradigm Intelligence, Maifushi, Huichen, Nengke Technology; 4) Fintech: Hang Seng Electronics, Tonghua, Compass, Apex Software

Risk warning: There is a risk that sector performance will fall short of expectations; there is a risk that downstream demand will be unstable; technological innovation may cause short-term performance to decline.