Herculean: An Agentic Benchmark for Financial Intelligence

As AI agents improve, the central question is no longer whether they can solve isolated well-defined financial tasks, but whether they can reliably carry out financial professional work. Existing financial benchmarks offer only a partial view of this ability, as they primarily evaluate static competencies such as question answering, retrieval, summarization, and classification. We introduce Herculean, the first skilled benchmark for agentic financial intelligence spanning four representative workflows, including Trading, Hedging, Market Insights, and Auditing. Each workflow is instantiated as a standardized MCP-based skill environment with its own tools, interaction dynamics, constraints, and success criteria, enabling consistent end-to-end assessment of heterogeneous agent systems. Across frontier agents, we find agents perform relatively well on Trading and Market Insights, but struggle substantially on Hedging and Auditing, where long-horizon coordination, state consistency, and structured verification are critical. Overall, our results point to a key gap in current agents in turning financial reasoning into dependable workflow execution in high-stakes financial workflows.

PanoWorld: Towards Spatial Supersensing in 360$^\circ$ Panorama World

Multimodal large laboratory models (MLLMs) still struggle with spatial understanding under the dominant perspective-image paradigm, which inherits the narrow field of view of human-like perception. For navigation, robotic search, and 3D scene understanding, 360-degree panoramic sensing offers a form of supersensing by capturing the entire surrounding environment at once. However, existing MLLM pipelines typically decompose panoramas into multiple perspective views, leaving the spherical structure of equirectangular projection (ERP) largely implicit. In this paper, we study pano-native understanding, which requires an MLLM to reason over an ERP panorama as a continuous, observer-centered space. To this end, we first define the key abilities for pano-native understanding, including semantic anchoring, spherical localization, reference-frame transformation, and depth-aware 3D spatial reasoning. We then build a large-scale metadata construction pipeline that converts mixed-source ERP panoramas into geometry-aware, language-grounded, and depth-aware supervision, and instantiate these signals as capability-aligned instruction tuning data. On the model side, we introduce PanoWorld with Spherical Spatial Cross-Attention, which injects spherical geometry into the visual stream. We further construct PanoSpace-Bench, a diagnostic benchmark for evaluating ERP-native spatial reasoning. Experiments show that PanoWorld substantially outperforms both proprietary and open-source baselines on PanoSpace-Bench, H* Bench, and R2R-CE Val-Unseen benchmarks. These results demonstrate that robust panoramic reasoning requires dedicated pano-native supervision and geometry-aware model adaptation. All source code and proposed data will be publicly released.

All Circuits Lead to Rome: Rethinking Functional Anisotropy in Circuit and Sheaf Discovery for LLMs

In this paper, we present empirical and theoretical evidence against a central but largely implicit assumption in circuit and sheaf discovery (CSD), which we term the Functional Anisotropy Hypothesis: the idea that functions in large language models (LLMs) are localised to a unique or near-unique internal mechanism. We show that a single LLM task can instead be supported by multiple, structurally distinct circuits or sheaves that are simultaneously faithful, sparse, and complete. To systematically uncover such competing mechanisms, we introduce Overlap-Aware Sheaf Repulsion, a method that augments the CSD objective with an explicit penalty on structural overlap across multiple discovery runs, enabling the discovery of circuits or sheaves with strong task performance but minimal shared structure across a plethora of common CSD benchmarks. We find that this phenomenon becomes increasingly pronounced as the number of discovered sheaves grows and persists robustly across major CSD methods. We further identify an ultra-sparse three-edge sheaf and show that none of its edges is individually indispensable, undermining even weakened notions of canonical or essential components. To explain these findings, we propose a Distributive Dense Circuit Hypothesis and provide a theoretical analysis demonstrating that non-unique, low-overlap circuit explanations arise naturally from high-dimensional superposition under mild assumptions. Together, our results suggest that mechanistic explanations in LLMs are inherently non-canonical and call for a rethinking of how CSD results should be interpreted and evaluated.

Fast-then-Fine: A Two-Stage Framework with Multi-Granular Representation for Cross-Modal Retrieval in Remote Sensing

Remote sensing (RS) image-text retrieval plays a critical role in understanding massive RS imagery. However, the dense multi-object distribution and complex backgrounds in RS imagery make it difficult to simultaneously achieve fine-grained cross-modal alignment and efficient retrieval. Existing methods either rely on complex cross-modal interactions that lead to low retrieval efficiency, or depend on large-scale vision-language model pre-training, which requires massive data and computational resources. To address these issues, we propose a fast-then-fine (FTF) two-stage retrieval framework that decomposes retrieval into a text-agnostic recall stage for efficient candidate selection and a text-guided rerank stage for fine-grained alignment. Specifically, in the recall stage, text-agnostic coarse-grained representations are employed for efficient candidate selection; in the rerank stage, a parameter-free balanced text-guided interaction block enhances fine-grained alignment without introducing additional learnable parameters. Furthermore, an inter- and intra-modal loss is designed to jointly optimize cross-modal alignment across multi-granular representations. Extensive experiments on public benchmarks demonstrate that the FTF achieves competitive retrieval accuracy while significantly improving retrieval efficiency compared with existing methods.

Maximum Likelihood Reconstruction for Multi-Look Digital Holography with Markov-Modeled Speckle Correlation

Multi-look acquisition is a widely used strategy for reducing speckle noise in coherent imaging systems such as digital holography. By acquiring multiple measurements, speckle can be suppressed through averaging or joint reconstruction, typically under the assumption that speckle realizations across looks are statistically independent. In practice, however, hardware constraints limit measurement diversity, leading to inter-look correlation that degrades the performance of conventional methods. In this work, we study the reconstruction of speckle-free reflectivity from complex-valued multi-look measurements in the presence of correlated speckle. We model the inter-look dependence using a first-order Markov process and derive the corresponding likelihood under a first-order Markov approximation, resulting in a constrained maximum likelihood estimation problem. To solve this problem, we develop an efficient projected gradient descent framework that combines gradient-based updates with implicit regularization via deep image priors, and leverages Monte Carlo approximation and matrix-free operators for scalable computation. Simulation results demonstrate that the proposed approach remains robust under strong inter-look correlation, achieving performance close to the ideal independent-look scenario and consistently outperforming methods that ignore such dependencies. These results highlight the importance of explicitly modeling inter-look correlation and provide a practical framework for multi-look holographic reconstruction under realistic acquisition conditions. Our code is available at: https://github.com/Computational-Imaging-RU/MLE-Holography-Markov.

What Makes an LLM a Good Optimizer? A Trajectory Analysis of LLM-Guided Evolutionary Search

Recent work has demonstrated the promise of orchestrating large language models (LLMs) within evolutionary and agentic optimization systems. However, the mechanisms driving these optimization gains remain poorly understood. In this work, we present a large-scale study of LLM-guided evolutionary search, collecting optimization trajectories for 15 LLMs across 8 tasks. Although zero-shot problem-solving ability correlates with final optimization outcomes, it explains only part of the variance: models with similar initial capability often induce dramatically different search trajectories and outcomes. By analyzing these trajectories, we find that strong LLM optimizers behave as local refiners, producing frequent incremental improvements while progressively localizing the search in semantic space. Conversely, weaker optimizers exhibit large semantic drift, with sporadic breakthroughs followed by stagnation. Notably, various measures of solution novelty do not predict final performance; novelty is beneficial only when the search remains sufficiently localized around high-performing regions of the solution space. Our results highlight the importance of trajectory analysis for understanding and improving LLM-based optimization systems and provide actionable insights for their design and training.

Fragile Reconstruction: Adversarial Vulnerability of Reconstruction-Based Detectors for Diffusion-Generated Images

Recently, detecting AI-generated images produced by diffusion-based models has attracted increasing attention due to their potential threat to safety. Among existing approaches, reconstruction-based methods have emerged as a prominent paradigm for this task. However, we find that such methods exhibit severe security vulnerabilities to adversarial perturbations; that is, by adding imperceptible adversarial perturbations to input images, the detection accuracy of classifiers collapses to near zero. To verify this threat, we present a systematic evaluation of the adversarial robustness of three representative detectors across four diverse generative backbone models. First, we construct adversarial attacks in white-box scenarios, which degrade the performance of all well-trained detectors. Moreover, we find that these attacks demonstrate transferability; specifically, attacks crafted against one detector can be transferred to others, indicating that adversarial attacks on detectors can also be constructed in a black-box setting. Finally, we assess common countermeasures and find that standard defense methods against adversarial attacks provide limited mitigation. We attribute these failures to the low signal-to-noise ratio (SNR) of attacked samples as perceived by the detectors. Overall, our results reveal fundamental security limitations of reconstruction-based detectors and highlight the need to rethink existing detection strategies.

OFA-Diffusion Compression: Compressing Diffusion Model in One-Shot Manner

The Diffusion Probabilistic Model (DPM) achieves remarkable performance in image generation, while its increasing parameter size and computational overhead hinder its deployment in practical applications. To improve this, the existing literature focuses on obtaining a smaller model with a fixed architecture through model compression. However, in practice, DPMs usually need to be deployed on various devices with different resource constraints, which leads to multiple compression processes, incurring significant overhead for repeated training. To obviate this, we propose a once-for-all (OFA) compression framework for DPMs that yields different subnetworks with various computations in a one-shot training manner. The existing OFA framework typically involves massive subnetworks with different parameter sizes, while such a huge candidate space slows the optimization. Thus, we propose to restrict the candidate subnetworks with a certain set of parameter sizes, where each size corresponds to a specific subnetwork. Specifically, to construct each subnetwork with a given size, we gradually allocate the maintained channels by their importance. Furthermore, we propose a reweighting strategy to balance the optimization process of different subnetworks. Experimental results show that our approach can produce compressed DPMs for various sizes with significantly lower training overhead while achieving satisfactory performance.

ActorMind: Emulating Human Actor Reasoning for Speech Role-Playing

Role-playing has garnered rising attention as it provides a strong foundation for human-machine interaction and facilitates sociological research. However, current work is confined to textual modalities, neglecting speech, which plays a predominant role in daily life, thus limiting genuine role-playing. To bridge this gap, we conceptualize and benchmark speech role-playing through ActorMindBench, and we present a corresponding reasoning framework, called ActorMind. Specifically, (1) Speech Role-Playing enables models to deliver spontaneous responses with personalized verbal traits based on their role, the scene, and spoken dialogue. (2) ActorMindBench is a hierarchical benchmark comprises Utterance-Level content with 7,653 utterances, Scene-Level content with 313 scenes, and Role-Level content with 6 roles. (3) ActorMind is an off-the-shelf, multi-agent, chain-of-though style reasoning framework that emulates how human actors perform in theaters. Concretely, ActorMind first reads its assigned role description via Eye Agent, then comprehends emotional cues within contextual spoken dialogues through Ear Agent. Subsequently, Brain Agent generates a descriptive emotional state, and finally, Mouth Agent delivers the scripts infused with corresponding emotion state. Experimental results demonstrate the effectiveness of ActorMind in enhancing speech role-playing.

The Memory-Enhanced Gaussian Noise (MEGN) Model for Fiber-Optic Channels

The enhanced Gaussian noise (EGN) model is widely used for estimating the nonlinear interference (NLI) power accumulated in coherent fiber-optic transmission systems. Given a fixed fiber link, under the assumption that transmitted symbols are independently and identically distributed (i.i.d.), the EGN model establishes that the NLI power depends on time-invariant signal statistics, i.e., the second-, fourth-, and sixth-order moments of the symbols, which are determined by the modulation format and its probability distribution. However, recent advances in coded modulation have sought to mitigate NLI by introducing controlled temporal correlations among transmitted symbols, thereby violating the i.i.d. assumption underlying the EGN model. Among these correlations, symbol energy correlations are believed to exert the most significant influence on NLI. This work presents a rigorous mathematical derivation of a memory extension of the EGN model that explicitly accounts for symbol energy correlations, referred to as the MEGN model. The proposed MEGN model is validated through both numerical simulations and transmission experiments. Normalized average NLI power estimations with less than 5% errors across a wide range of symbol rates and transmission distances are reported. The model also provides a theoretical framework for analyzing and optimizing optical transmission systems employing temporally correlated modulation schemes.