A research report from Industrial Securities Co.,Ltd. indicates that office scenarios, characterized by high usage frequency, strong user stickiness, and a high willingness to pay, present a substantial market opportunity. These scenarios are expected to become the next major field for large-scale AI deployment, following AI Coding.
Internet giants dominate China's office application market, giving them a natural traffic advantage in the new trend of AI integration. Current mainstream office applications are primarily products within these large ecosystems. Tencent currently leads the pack, and as WorkBuddy continues to expand its capabilities across various industries, software application vendors are poised to benefit significantly.
Market Potential for AI Office
The applications of AI in general office scenarios are vast, including features such as AI meeting assistants, intelligent search, Q&A and spreadsheet bots, AI content creation, AI knowledge bases, AI research, and AI contract management. Overseas, OpenAI and Anthropic have launched ChatGPT Work and Claude Cowork, respectively, focusing on task-specific needs in office environments. User numbers have risen rapidly since their launch. According to Anthropic, the scope of AI application is shifting from coding to commercial activities like daily work. The high frequency, strong stickiness, and willingness to pay in office settings create a vast market, positioning it as the next direction for large-scale AI deployment after AI Coding.
Competition Among China's Internet Giants
Domestic internet giants compete on product ecosystems and application entry points, integrating internal resources to build flagship products. They dominate the office application market and have a natural traffic advantage with AI. Current mainstream office apps are largely products from these ecosystems. Tencent, Alibaba, and ByteDance are streamlining their product lines to create core offerings: Tencent WorkBuddy emphasizes ecosystem co-creation, performing well in real work scenarios through its "Buddy AI" co-creation plan, which enables capability sharing with external partners in industry, service, and hardware. Alibaba Qianwen Office focuses on enterprise scenarios, using the Qwen 3.8-Max core model to achieve strong performance in complex office environments. ByteDance integrates Feishu and Doubao, leveraging Doubao's strong commercialization capabilities and Feishu's accumulated office scenario data and experience to drive rapid growth in its AI office business.
Ecosystem Benefits and Key Players
Tencent WorkBuddy currently leads, having collaborated with numerous software vendors. It embeds itself into enterprise products or transforms vertical industry experience and data into Skills, experts, and connectors, enhancing its adaptability across industries. Software application vendors, in turn, benefit from WorkBuddy's AI empowerment, gaining advantages in processing efficiency and analytical capability. Tencent's partner ecosystem now covers finance, legal, accounting, healthcare, education, manufacturing, consumer electronics, marketing, human resources, and content creation. As WorkBuddy's capabilities expand across industries, these software vendors are expected to benefit deeply.
Stocks to Watch
Office software: Kingsoft Office, Intsig, Foosun Software; OA: Fanwei Network, Seeyon Internet; Enterprise services: Yonyou Network, Hand Enterprise Solutions, Diginet Smart, Shuifa Shares, FanShi Intelligence, Mafutime, Huichen Shares, Nengke Technology; Fintech: Hundsun Technologies, Hithink RoyalFlush, Compal, Vertex Software.
Risk Warning: The sector's performance may fall short of expectations; downstream demand faces potential instability; technological innovation could lead to short-term earnings declines.