In a rapidly changing economic landscape, the integration of artificial intelligence (AI) into the consumer sector is set to redefine how consumers engage with products and servicesThe ongoing push for new consumption patterns is not just a trend; it signifies a transformative shift that experts believe will enhance consumption quality and expand market opportunitiesBy fostering the intersection of “AI + consumption,” stakeholders can unlock significant potential in various sectors, including health, home, and entertainment.

The concept of "AI + consumption" embodies the application of AI technologies to enhance consumer experiences and product offeringsAs AI becomes increasingly embedded in everyday life, its presence is felt in digital devices and household appliances alikeFor instance, according to Shen Jianqing, Chief Economist at JD Group, the swift advancement of AI technology has ushered in a new era of intelligent upgrades for digital products and home appliancesThis evolution is not just about individual devices becoming smarter; it involves creating interconnected systems that can perceive and respond to users' needs in real-timeFor example, modern refrigerators can now detect food spoilage and suggest recipes based on available ingredients, while smart TVs can offer personalized viewing recommendations based on user preferences.

Investment advisor Yu Xiaoming emphasizes that the policy support for new consumption models is critical in accelerating the growth of the “AI + consumption” sectorHe points out that smart home products like intelligent speakers and lighting systems are likely to see continued market expansionThe automotive sector is also experiencing this transformation, with smart connected vehicles gaining tractionDevices equipped with AI capabilities, such as smartphones and tablets, are expected to rejuvenate the consumer electronics market, driving further engagement and sales.

The potential for innovation in the consumer sector is vast, as AI technology can give rise to new products and experiences

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Researcher Fu Yifu from Xingtou Financial Research Institute believes that the applications of AI in various fields such as elder care, education, and cultural tourism will emerge as new consumption hotspotsFor example, AI-powered devices designed for elderly health management can provide personalized health monitoring and assistanceIn the realm of cultural tourism, AI can create immersive experiences that enhance travelers' engagement with destinations, offering tailored recommendations based on individual interests.

To nurture and expand these new consumption models, experts agree that robust policy support is essentialThe government's focus on “two new” policies—new technologies and new consumption—has led to a surge in demand for high-tech and energy-efficient productsData from the Ministry of Commerce indicates that in 2024, over 90% of sales in the home appliance replacement program will involve first-level energy efficiency productsThis shift has catalyzed a double-digit growth in retail sales of high-efficiency and smart appliances for four consecutive months.

Shen Jianqing suggests widening the scope of subsidies for replacing old products to include high-value items such as computers and smartphonesThis expansion, particularly for high-end, intelligent, and green products, would stimulate demand and encourage the renewal of consumption while fostering new productivity advancementsThe push for upgrading household appliances, such as smart toilets and robotic vacuums, highlights a growing consumer preference for technology-enhanced living.

In terms of creating new products and consumption scenarios, Cheng Shi, Chief Economist at ICBC International, advocates for invigorating service consumption across sectors like culture, entertainment, tourism, sports, and educationBy focusing on these areas, there is an opportunity to elevate consumer experiences and meet the diverse and personalized demands of the population

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Developing and promoting new consumption models—such as digital, green, and health-oriented consumption—will play a critical role in optimizing and upgrading consumption structures.

The Ministry of Commerce has recently announced its commitment to further supporting the growth of new consumption, emphasizing sectors such as winter sports and senior careBy promoting digital, green, and health-focused consumption, the government aims to innovate diverse consumption scenarios and activate consumer potential through various initiativesThis approach is not just about enhancing existing markets but also about creating entirely new avenues for growth.

As AI continues to permeate the consumer space, the implications are profoundThe ability to analyze consumer behavior and preferences through AI technologies will lead to more personalized marketing strategies, improved product designs, and enhanced customer serviceFor example, companies can utilize AI algorithms to predict trends and consumer needs, allowing them to tailor their offerings accordinglyThis level of customization not only increases customer satisfaction but also fosters brand loyalty.

Moreover, the integration of AI in consumer products can lead to significant efficiency gainsSmart home devices can optimize energy usage, contributing to more sustainable living practicesAs consumers become increasingly aware of their environmental impact, the demand for green technology will only grow, further driving innovation in the “AI + consumption” space.

However, as the sector evolves, challenges remainCompanies must navigate privacy concerns and ensure that consumer data is handled responsiblyStriking a balance between personalization and privacy will be crucial in maintaining consumer trustAdditionally, as competition intensifies, businesses will need to continuously innovate to stay relevant in a crowded marketplace.

In summary, the convergence of artificial intelligence and consumption represents a pivotal moment in the evolution of consumer markets

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