Jinpeng Xu, Lin Zhou, Shuowen Zhang, Xin Xie, Weijie Yuan, Jingjing Wang
Driven by the rise of the low-altitude economy (LAE), uncrewed aerial vehicles (UAVs) are further integrated into next-generation low-altitude wireless networks and Internet of Things (IoT) infrastructures, enabling new paradigms for smart cities, disaster response, aerial logistics, and environmental monitoring. As a critical enabler, flying ad-hoc networks (FANETs) offer scalable, agile, and mission-adaptive capabilities through self-organizing UAV swarms. However, the realization of multifunctional FANETs faces challenges including dynamic topologies, real-time coordination, constrained onboard resources, stringent demands for secure communications and safe autonomous operations. This paper concerns a new generation of intelligent FANETs, where foundation models unify sensing, communication, control, and security in an adaptive and cross-layer framework. We introduce a cloud-edge-air collaborative architecture, illustrate how foundation models enable real-time optimization approaching information-theoretic limits, and explore the design of self-evolving aerial networks. Open research challenges and future opportunities are also discussed, paving the way for scalable, trustworthy, and intelligent low-altitude wireless networks and IoT systems.