CITIC Securities' research report: 2025 is expected to become the first year for Agent implementation, major companies actively competing for traffic entrances.

Recently, a research report released by CITIC Securities Investment Management stated that 2025 is expected to become the year of Agent landing, with major companies actively competing for the traffic entrance of the Agent era. Phenomenal products such as Manus, Zhifu AutoGLM, Byte Button Space, Alibaba Fliggy's Q&A, and others have emerged successively, marking a turning point for the C-end Agent race track. The front end of Agent products is the traffic entrance for users, while the back end consists of a large number of tools that need to be called upon. Currently, common Agents such as Manus and Button Space, as well as vertical Agents like Fliggy's Q&A, have already formed their product architectures, and it is expected that there will be improvements in model performance and more tools integrated in the future.