1. Application scenario of digital RMB
The digital RMB pilot has rich scenes, covering retail trading, government services, securities trading and other fields. As of October 22, 2021, there were more than 3.5 million digital RMB pilot scenarios in China; In 2022, the pilot of digital RMB in the Winter Olympic Games scene was steadily promoted, and three large-scale digital RMB activities were carried out, with 403000 landing scenes. After the official promotion, the application scenario of digital RMB is expected to be further expanded.
Among many pilot scenarios, we believe that smart contract is expected to become one of the most widely used scenarios. At present, the cloud Side Smart contract has been implemented in the smart leasing scenario jointly created by ABC Shenzhen Branch and Huawei, and xiong’an new area is also piloting the settlement of photovoltaic power generation by means of digital RMB + smart contract; In the future, digital RMB loaded with smart contracts is also expected to become an intelligent pricing and payment tool in carbon emission trading, stock futures trading and other markets.
2. Comparison between AI algorithm company and traditional industry service providers
From the perspective of AI industry solution architecture, AI algorithm companies and traditional industry service providers are located in different architecture layers, and AI algorithm companies are mainly located in the “cloud PAAS” layer. AI solution architecture can be roughly divided into five layers: the edge and end layers include NVIDIA, Huawei, Haikang, Dahua, Yushi, etc. The IAAs layer includes Inspur, Huawei, dawn, Dell and Xinhua in the server direction; There are Alibaba, Huawei, Baidu, Tencent, etc. in the direction of public cloud; PAAS layer has Beijing Haitian Ruisheng Science Technology Ltd(688787) and soft power in data acquisition, cleaning and marking layers; In the training framework layer, there are Google, Facebook, etc; In the algorithm layer, AI algorithm companies such as Shangtang, Kuangshi, the fourth paradigm, Yuncong, hongruan and Yitu participate.
From the perspective of the advantages of each company in the AI industry chain, each company has different comparative advantages. It is important to find a suitable landing scenario and consider which kind of enterprise can achieve the comprehensive optimization (operating cost + sales expense + R & D expense) in this scenario. In some large scenarios, the participants in the industrial chain mainly focus on cooperation; In some small scenarios, the participants may have fierce competition. Generally speaking, we believe that AI algorithm company has comparative advantages in scenarios requiring high calculation accuracy and speed; Haikang, Dahua and other companies have comparative advantages in scenarios with high operating costs / sales expenses and relatively low requirements for algorithm accuracy and speed.
3. How to view the prosperity of industrial software industry in the future?
We believe that judging from the policy and long-term demand of the industrial software industry, the current PMI continues to rebound. Under the background of double carbon, the digitization process of high energy consuming industry is accelerated, and the long-term prosperity trend of the industry is clear.
PMI bottomed out in October of 21 and continued to rise for two consecutive months in November and December, indicating that the downstream boom has warmed up, manufacturing production has maintained expansion and accelerated digital transformation expenditure. The requirements of relevant policies on benchmark level and time limit show that high energy consuming industries have entered the moment of supply side reform based on efficiency, and the digitization process of high energy consuming industries (steel, petrochemical, chemical, cement, etc.) has accelerated.
Both high-level tone setting and relevant development planning objectives show that the penetration of industrial software needs to be rapidly improved, and the policy catalyzes the high prosperity of the industry.
Risk tip: the macro economy is depressed, major changes have taken place in sector policies and major changes have taken place in the international environment.
