According to a research report by CITIC Securities, AI smartphones/computers have entered the "cash in verification period", and AIoT is expected to experience a supply explosion. The biggest change in AI terminals is the reshaping of the interaction paradigm from touch screens to voice and multimodal upgrades, bringing a more concise and efficient user experience. Since 2024, AI smartphones/computers have been "hardware first", creating AI Ready PC/Phone with chips as the core. Looking ahead to 2025, the computing power on the end side will further increase, and at the same time, end side applications will begin to make efforts. Coupled with the decrease in the cost of large model inference, it is expected to truly promote the AI led trend of machine replacement. In terms of one year, Apple is most optimistic about the software and hardware integration of AI functions. Apart from AI smartphones/computers, although AIoT has a slower landing pace, it has greater flexibility. By 2025, related new and popular products are expected to continue to be launched, especially AI glasses, which are expected to experience explosive growth in supply. With the entry of more domestic and foreign giants, AI smart glasses are expected to gradually occupy consumers' minds, moving from a "trend" to a "consensus".