From Deep Learning to LLMs: A survey of AI in Quantitative Investment

Quantitative investment (quant) is an emerging, technology-driven approach in asset management, increasingy shaped by advancements in artificial intelligence. Recent advances in deep learning and large language models (LLMs) for quant finance have improved predictive modeling and enabled agent-based automation, suggesting a potential paradigm shift in this field. In this survey, taking alpha strategy as a representative example, we explore how AI contributes to the quantitative investment pipeline. We first examine the early stage of quant research, centered on human-crafted features and traditional statistical models with an established alpha pipeline. We then discuss the rise of deep learning, which enabled scalable modeling across the entire pipeline from data processing to order execution. Building on this, we highlight the emerging role of LLMs in extending AI beyond prediction, empowering autonomous agents to process unstructured data, generate alphas, and support self-iterative workflows.

MultiBARF: Integrating Imagery of Different Wavelength Regions by Using Neural Radiance Fields

Optical sensor applications have become popular through digital transformation. Linking observed data to real-world locations and combining different image sensors is essential to make the applications practical and efficient. However, data preparation to try different sensor combinations requires high sensing and image processing expertise. To make data preparation easier for users unfamiliar with sensing and image processing, we have developed MultiBARF. This method replaces the co-registration and geometric calibration by synthesizing pairs of two different sensor images and depth images at assigned viewpoints. Our method extends Bundle Adjusting Neural Radiance Fields(BARF), a deep neural network-based novel view synthesis method, for the two imagers. Through experiments on visible light and thermographic images, we demonstrate that our method superimposes two color channels of those sensor images on NeRF.

One Model for ALL: Low-Level Task Interaction Is a Key to Task-Agnostic Image Fusion

Advanced image fusion methods mostly prioritise high-level missions, where task interaction struggles with semantic gaps, requiring complex bridging mechanisms. In contrast, we propose to leverage low-level vision tasks from digital photography fusion, allowing for effective feature interaction through pixel-level supervision. This new paradigm provides strong guidance for unsupervised multimodal fusion without relying on abstract semantics, enhancing task-shared feature learning for broader applicability. Owning to the hybrid image features and enhanced universal representations, the proposed GIFNet supports diverse fusion tasks, achieving high performance across both seen and unseen scenarios with a single model. Uniquely, experimental results reveal that our framework also supports single-modality enhancement, offering superior flexibility for practical applications. Our code will be available at https://github.com/AWCXV/GIFNet.

Trunk-branch Contrastive Network with Multi-view Deformable Aggregation for Multi-view Action Recognition

Multi-view action recognition aims to identify actions in a given multi-view scene. Traditional studies initially extracted refined features from each view, followed by implemented paired interaction and integration, but they potentially overlooked the critical local features in each view. When observing objects from multiple perspectives, individuals typically form a comprehensive impression and subsequently fill in specific details. Drawing inspiration from this cognitive process, we propose a novel trunk-branch contrastive network (TBCNet) for RGB-based multi-view action recognition. Distinctively, TBCNet first obtains fused features in the trunk block and then implicitly supplements vital details provided by the branch block via contrastive learning, generating a more informative and comprehensive action representation. Within this framework, we construct two core components: the multi-view deformable aggregation and the trunk-branch contrastive learning. MVDA employed in the trunk block effectively facilitates multi-view feature fusion and adaptive cross-view spatio-temporal correlation, where a global aggregation module is utilized to emphasize significant spatial information and a composite relative position bias is designed to capture the intra- and cross-view relative positions. Moreover, a trunk-branch contrastive loss is constructed between aggregated features and refined details from each view. By incorporating two distinct weights for positive and negative samples, a weighted trunk-branch contrastive loss is proposed to extract valuable information and emphasize subtle inter-class differences. The effectiveness of TBCNet is verified by extensive experiments on four datasets including NTU-RGB+D 60, NTU-RGB+D 120, PKU-MMD, and N-UCLA dataset. Compared to other RGB-based methods, our approach achieves state-of-the-art performance in cross-subject and cross-setting protocols.

Subpixel Edge Localization Based on Converted Intensity Summation under Stable Edge Region

To satisfy the rigorous requirements of precise edge detection in critical high-accuracy measurements, this article proposes a series of efficient approaches for localizing subpixel edge. In contrast to the fitting based methods, which consider pixel intensity as a sample value derived from a specific model. We take an innovative perspective by assuming that the intensity at the pixel level can be interpreted as a local integral mapping in the intensity model for subpixel localization. Consequently, we propose a straightforward subpixel edge localization method called Converted Intensity Summation (CIS). To address the limited robustness associated with focusing solely on the localization of individual edge points, a Stable Edge Region (SER) based algorithm is presented to alleviate local interference near edges. Given the observation that the consistency of edge statistics exists in the local region, the algorithm seeks correlated stable regions in the vicinity of edges to facilitate the acquisition of robust parameters and achieve higher precision positioning. In addition, an edge complement method based on extension-adjustment is also introduced to rectify the irregular edges through the efficient migration of SERs. A large number of experiments are conducted on both synthetic and real image datasets which cover common edge patterns as well as various real scenarios such as industrial PCB images, remote sensing and medical images. It is verified that CIS can achieve higher accuracy than the state-of-the-art method, while requiring less execution time. Moreover, by integrating SER into CIS, the proposed algorithm demonstrates excellent performance in further improving the anti-interference capability and positioning accuracy.

MixSA: Training-free Reference-based Sketch Extraction via Mixture-of-Self-Attention

Current sketch extraction methods either require extensive training or fail to capture a wide range of artistic styles, limiting their practical applicability and versatility. We introduce Mixture-of-Self-Attention (MixSA), a training-free sketch extraction method that leverages strong diffusion priors for enhanced sketch perception. At its core, MixSA employs a mixture-of-self-attention technique, which manipulates self-attention layers by substituting the keys and values with those from reference sketches. This allows for the seamless integration of brushstroke elements into initial outline images, offering precise control over texture density and enabling interpolation between styles to create novel, unseen styles. By aligning brushstroke styles with the texture and contours of colored images, particularly in late decoder layers handling local textures, MixSA addresses the common issue of color averaging by adjusting initial outlines. Evaluated with various perceptual metrics, MixSA demonstrates superior performance in sketch quality, flexibility, and applicability. This approach not only overcomes the limitations of existing methods but also empowers users to generate diverse, high-fidelity sketches that more accurately reflect a wide range of artistic expressions.

Adaptive Hyper-Graph Convolution Network for Skeleton-based Human Action Recognition with Virtual Connections

The shared topology of human skeletons motivated the recent investigation of graph convolutional network (GCN) solutions for action recognition. However, the existing GCNs rely on the binary connection of two neighbouring vertices (joints) formed by an edge (bone), overlooking the potential of constructing multi-vertex convolution structures. In this paper we address this oversight and explore the merits of a hyper-graph convolutional network (Hyper-GCN) to achieve the aggregation of rich semantic information conveyed by skeleton vertices. In particular, our Hyper-GCN adaptively optimises multi-scale hyper-graphs during training, revealing the action-driven multi-vertex relations. Besides, virtual connections are often designed to support efficient feature aggregation, implicitly extending the spectrum of dependencies within the skeleton. By injecting virtual connections into hyper-graphs, the semantic clues of diverse action categories can be highlighted. The results of experiments conducted on the NTU-60, NTU-120, and NW-UCLA datasets, demonstrate the merits of our Hyper-GCN, compared to the state-of-the-art methods. Specifically, we outperform the existing solutions on NTU-120, achieving 90.2\% and 91.4\% in terms of the top-1 recognition accuracy on X-Sub and X-Set.

Golden Touchstone: A Comprehensive Bilingual Benchmark for Evaluating Financial Large Language Models

As large language models become increasingly prevalent in the financial sector, there is a pressing need for a standardized method to comprehensively assess their performance. However, existing finance benchmarks often suffer from limited language and task coverage, as well as challenges such as low-quality datasets and inadequate adaptability for LLM evaluation. To address these limitations, we propose "Golden Touchstone", the first comprehensive bilingual benchmark for financial LLMs, which incorporates representative datasets from both Chinese and English across eight core financial NLP tasks. Developed from extensive open source data collection and industry-specific demands, this benchmark includes a variety of financial tasks aimed at thoroughly assessing models' language understanding and generation capabilities. Through comparative analysis of major models on the benchmark, such as GPT-4o Llama3, FinGPT and FinMA, we reveal their strengths and limitations in processing complex financial information. Additionally, we open-sourced Touchstone-GPT, a financial LLM trained through continual pre-training and financial instruction tuning, which demonstrates strong performance on the bilingual benchmark but still has limitations in specific tasks.This research not only provides the financial large language models with a practical evaluation tool but also guides the development and optimization of future research. The source code for Golden Touchstone and model weight of Touchstone-GPT have been made publicly available at \url{https://github.com/IDEA-FinAI/Golden-Touchstone}, contributing to the ongoing evolution of FinLLMs and fostering further research in this critical area.

Capture Artifacts via Progressive Disentangling and Purifying Blended Identities for Deepfake Detection

The Deepfake technology has raised serious concerns regarding privacy breaches and trust issues. To tackle these challenges, Deepfake detection technology has emerged. Current methods over-rely on the global feature space, which contains redundant information independent of the artifacts. As a result, existing Deepfake detection techniques suffer performance degradation when encountering unknown datasets. To reduce information redundancy, the current methods use disentanglement techniques to roughly separate the fake faces into artifacts and content information. However, these methods lack a solid disentanglement foundation and cannot guarantee the reliability of their disentangling process. To address these issues, a Deepfake detection method based on progressive disentangling and purifying blended identities is innovatively proposed in this paper. Based on the artifact generation mechanism, the coarse- and fine-grained strategies are combined to ensure the reliability of the disentanglement method. Our method aims to more accurately capture and separate artifact features in fake faces. Specifically, we first perform the coarse-grained disentangling on fake faces to obtain a pair of blended identities that require no additional annotation to distinguish between source face and target face. Then, the artifact features from each identity are separated to achieve fine-grained disentanglement. To obtain pure identity information and artifacts, an Identity-Artifact Correlation Compression module (IACC) is designed based on the information bottleneck theory, effectively reducing the potential correlation between identity information and artifacts. Additionally, an Identity-Artifact Separation Contrast Loss is designed to enhance the independence of artifact features post-disentangling. Finally, the classifier only focuses on pure artifact features to achieve a generalized Deepfake detector.

Learning Content-Aware Multi-Modal Joint Input Pruning via Bird's-Eye-View Representation

In the landscape of autonomous driving, Bird's-Eye-View (BEV) representation has recently garnered substantial academic attention, serving as a transformative framework for the fusion of multi-modal sensor inputs. This BEV paradigm effectively shifts the sensor fusion challenge from a rule-based methodology to a data-centric approach, thereby facilitating more nuanced feature extraction from an array of heterogeneous sensors. Notwithstanding its evident merits, the computational overhead associated with BEV-based techniques often mandates high-capacity hardware infrastructures, thus posing challenges for practical, real-world implementations. To mitigate this limitation, we introduce a novel content-aware multi-modal joint input pruning technique. Our method leverages BEV as a shared anchor to algorithmically identify and eliminate non-essential sensor regions prior to their introduction into the perception model's backbone. We validatethe efficacy of our approach through extensive experiments on the NuScenes dataset, demonstrating substantial computational efficiency without sacrificing perception accuracy. To the best of our knowledge, this work represents the first attempt to alleviate the computational burden from the input pruning point.