1、January 24,2025|18:18 ETInternetBeyond the Click.AI Agents Take Davos&Your ScreenBottom Line:Google,Meta,and OpenAI expand AI Agent capabilities,which should improve user personalization and discovery.The output is greater engagement,a tailwind for GMV/Bookings growth across our Internet coverage.Ub

2、er and DoorDash partner with The Home Depot.YouTube Premium sees product improvements.Pinterest showcases ad formats amidst TikTok uncertainty.TRIP receives bids ranging$18-19/share.Key PointsGoogle Announces Array of On-Device(Samsung)Capabilities Gemini will become the primary assistant on Samsung

3、 devices,replacing the Bixby assistant.Given its OS integration,it will tap into apps/services,including YouTube,Spotify,and Google Maps.Further,Gemini Live capabilities are also embedded at the OS level,enabling users to ask more complex queries directly from their device.Google AI Overviews expand

4、ed to Circle to Search,which unlocks new ad inventory.Takes from Metas Chief AI Scientist at Davos 1)AI assistants will continue to proliferate;2)Gen AI remains limited in its ability to understand the physical world/reason;3)the next decade might be deemed“The Decade of Robots”;and 4)Content modera

5、tion went too far as 96%of hate speech was removed(vs.25%in 2017).Open Launches Operator AI Agents Uber,DoorDash,eBay,StubHub,and B are early adopters.Personalization and discovery should improve,which is a net positive for unit volumes.DoorDash and Uber Eats Partner With Home Depot The Home Depot a

6、nnounced a simultaneous partnership with Uber and DoorDash,which builds on its agreement with Instacart.Given the improved delivery speed,it supports our view that 3P platforms offer incremental demand for retailers across verticals.YouTube Enhances Premium Offering Improved audio quality,PiP for Sh