In July this year, Robin Lee predicted at the Baidu World Conference that "AIGC (Artificial Intelligence Self produced Content) will subvert the existing content production model in the next decade. It can generate AI original content at a cost of one tenth and a production speed of one hundred times and one thousand times." Unexpectedly, his speech at that time will make AIGC the focus of the primary market in the next few months. Sequoia Capital, together with GPT-3, released an article entitled "Generative AI: A Creative New World" in September this year, and immediately ignited the AIGC track. "People's dream: generative AI will reduce the editing cost of creation and knowledge work to zero, and produce huge labor productivity and economic value, as well as corresponding market value." According to his understanding, AI can make human efficiency break through the ceiling of current technical conditions, and the growth of enterprises in the future will no longer be constrained by manpower and costs, and the operating efficiency of enterprises will also change qualitatively. Although AIGC is in the initial stage, the wide range application of technology has not been stable, and even the demand of consumers has not been specifically targeted, this does not hinder the accelerated entry of capital and institutions: Stability AI announced that it has received a seed round financing of $101 million, officially promoting it to the ranks of unicorns; Almost at the same time, Jasper, another artificial intelligence unicorn company, also announced that it had obtained a new financing of 125 million dollars. For a while, there was an AIGC investment boom around the world. The reason behind this can be summarized as follows: VCs believe that AIGC is a major breakthrough in AI algorithm, which means that human use of AI is no longer limited to a specific function, such as voice recognition, intelligent recommendation, etc., but has really entered the stage of general AI, that is, AI can complete intelligent tasks as efficiently as human beings. This is a very interesting trend, because in the mobile Internet era, the imagination about the future has been carried out many times. From the original popular meta universe and Web 3, it is like an ultimate illusion for the public, jumping out of the dimension of time and space, full of unlimited expectations for the future, which is also the lifelong dream of many geeks. However, on the day when the dream finally wakes up, technology should also be put on the market for verification. Disenchantment is the beginning and end of a cycle. However, this time the main character was replaced by AIGC. With the continuous breakthrough in the technology of text, pictures, videos and their cross modal transformation, the AI industry we are familiar with is trying to reconstruct the transformation of human productivity and production relations. Whether this is a transitory flower or a new blue ocean has become the most worthy topic to discuss in the market. 01 Is AIGC as perfect as imagined? It is not necessary to understand what AIGC is before discussing the imagination of AIGC. As the name implies, AI Generated Content is AI generated content. In the final analysis, despite those complex concepts, AIGC is at best a way to imitate human beings for content production at this stage. Its main technical difficulties are as follows: