Guotai Haitong Securities has released a research report indicating that the influence of AI on the gaming industry is expanding beyond just improving development efficiency. It is now branching into areas such as gameplay innovation, creation platforms, and AI-native games, which is expected to boost the supply of games and enhance user value. As model capabilities improve and invocation costs decline, AI is well-positioned to open up new avenues of growth for the sector, with three key areas of opportunity identified: AI-driven development efficiency, AI-powered gameplay innovation, and AI-assisted creation platforms.

According to the firm's primary viewpoint, AI is fundamentally reshaping game development and the overall player experience. Looking back at the history of the gaming industry's progression, from home consoles and PC internet to mobile internet, each wave of technological advancement has not only introduced new forms of games but also expanded user demand and commercial potential. At present, AI is penetrating various stages of the pipeline, including planning, art, programming, publishing, and operations. It is being utilized for tasks such as content generation, automated testing, code writing, and intelligent ad placement, which collectively help shorten production cycles and reduce manufacturing costs. Beyond development, AI is also starting to feature within games themselves, enriching interactive experiences and content offerings through elements like AI teammates, intelligent NPCs, adaptive difficulty, and novel gameplay mechanics. The influence of this technology is progressively shifting from the creation stage to the direct player experience.

AI-driven creation platforms are significantly lowering the barrier to entry for game development. Platforms such as TapTap and SOON have evolved from offering singular, point-based tools to providing comprehensive, one-stop creation ecosystems that cover code, art, audio, game assembly, and publishing. With these platforms, users can complete parts of the development process through natural language and simple operations, enabling individuals and small teams to produce games with lower costs and in shorter timeframes. As the number of developers grows, the volume of AI-assisted games is expected to rise. The pool of participants in game creation is also set to become more diverse. Platforms like TapTap, which simultaneously possess content community features and distribution capabilities, allow creators to publish their finished games and reach players instantaneously. These platforms are likely to benefit from the increased supply of games and could potentially divert some traffic away from traditional distribution channels.

AI-native games appear ready to unlock entirely new growth potential. With improvements in model capabilities and reductions in inference costs, new genres are beginning to surface, including natural language character interaction, generative storytelling, multi-agent simulations, and generative construction. These advancements are shifting game content from pre-set designs to dynamic generation and are also exploring novel monetization methods, such as subscription models and dialogue quotas. At this juncture, the penetration rate of AI on the product side remains relatively low, with its capabilities largely concentrated in select leading titles and innovative gameplay mechanics. In the future, as technology matures and development costs shrink, more AI functionalities are expected to integrate into game products. AI has the potential not only to augment the supply of games and spawn new categories but also to increase the value of individual titles by improving user activity, retention, and monetization. According to data from Gamma Data, once AI technology reaches maturity, it is projected to generate an additional RMB 53.3 billion to RMB 84.6 billion in new market space for China's gaming industry.

Risks to consider include the possibility that AI technology and its application effects may fall short of expectations; the commercialization of AI games may underperform; intensifying industry competition; risks related to copyright, data security, and privacy protection; and the potential for changes in industry regulatory policies.