FinCon: A Synthesized LLM Multi-Agent System with Conceptual Verbal Reinforcement for Enhanced Financial Decision Making

Large language models (LLMs) have demonstrated notable potential in conducting complex tasks and are increasingly utilized in various financial applications. However, high-quality sequential financial investment decision-making remains challenging. These tasks require multiple interactions with a volatile environment for every decision, demanding sufficient intelligence to maximize returns and manage risks. Although LLMs have been used to develop agent systems that surpass human teams and yield impressive investment returns, opportunities to enhance multi-sourced information synthesis and optimize decision-making outcomes through timely experience refinement remain unexplored. Here, we introduce the FinCon, an LLM-based multi-agent framework with CONceptual verbal reinforcement tailored for diverse FINancial tasks. Inspired by effective real-world investment firm organizational structures, FinCon utilizes a manager-analyst communication hierarchy. This structure allows for synchronized cross-functional agent collaboration towards unified goals through natural language interactions and equips each agent with greater memory capacity than humans. Additionally, a risk-control component in FinCon enhances decision quality by episodically initiating a self-critiquing mechanism to update systematic investment beliefs. The conceptualized beliefs serve as verbal reinforcement for the future agent's behavior and can be selectively propagated to the appropriate node that requires knowledge updates. This feature significantly improves performance while reducing unnecessary peer-to-peer communication costs. Moreover, FinCon demonstrates strong generalization capabilities in various financial tasks, including single stock trading and portfolio management.

CatMemo at the FinLLM Challenge Task: Fine-Tuning Large Language Models using Data Fusion in Financial Applications

The integration of Large Language Models (LLMs) into financial analysis has garnered significant attention in the NLP community. This paper presents our solution to IJCAI-2024 FinLLM challenge, investigating the capabilities of LLMs within three critical areas of financial tasks: financial classification, financial text summarization, and single stock trading. We adopted Llama3-8B and Mistral-7B as base models, fine-tuning them through Parameter Efficient Fine-Tuning (PEFT) and Low-Rank Adaptation (LoRA) approaches. To enhance model performance, we combine datasets from task 1 and task 2 for data fusion. Our approach aims to tackle these diverse tasks in a comprehensive and integrated manner, showcasing LLMs' capacity to address diverse and complex financial tasks with improved accuracy and decision-making capabilities.

Joint Beamforming and Antenna Position Optimization for Movable Antenna-Assisted Spectrum Sharing

Fluid antennas (FAs) and movable antennas (MAs) have drawn increasing attention in wireless communications recently due to their ability to create favorable channel conditions via local antenna movement within a confined region. In this letter, we advance their application for cognitive radio to facilitate efficient spectrum sharing between primary and secondary communication systems. In particular, we aim to jointly optimize the transmit beamforming and MA positions at a secondary transmitter (ST) to maximize the received signal power at a secondary receiver (SR) subject to the constraints on its imposed co-channel interference power with multiple primary receivers (PRs). However, such an optimization problem is difficult to be optimally solved due to the highly nonlinear functions of the received signal/interference power at the SR/all PRs in terms of the MA positions. To drive useful insights, we first perform theoretical analyses to unveil MAs' capability to achieve maximum-ratio transmission with the SR and effective interference mitigation for all PRs at the same time. To solve the MA position optimization problem, we propose an alternating optimization (AO) algorithm to obtain a high-quality suboptimal solution. Numerical results demonstrate that our proposed algorithms can significantly outperform the conventional fixed-position antennas (FPAs) and other baseline schemes.

DiPEx: Dispersing Prompt Expansion for Class-Agnostic Object Detection

Class-agnostic object detection (OD) can be a cornerstone or a bottleneck for many downstream vision tasks. Despite considerable advancements in bottom-up and multi-object discovery methods that leverage basic visual cues to identify salient objects, consistently achieving a high recall rate remains difficult due to the diversity of object types and their contextual complexity. In this work, we investigate using vision-language models (VLMs) to enhance object detection via a self-supervised prompt learning strategy. Our initial findings indicate that manually crafted text queries often result in undetected objects, primarily because detection confidence diminishes when the query words exhibit semantic overlap. To address this, we propose a Dispersing Prompt Expansion (DiPEx) approach. DiPEx progressively learns to expand a set of distinct, non-overlapping hyperspherical prompts to enhance recall rates, thereby improving performance in downstream tasks such as out-of-distribution OD. Specifically, DiPEx initiates the process by self-training generic parent prompts and selecting the one with the highest semantic uncertainty for further expansion. The resulting child prompts are expected to inherit semantics from their parent prompts while capturing more fine-grained semantics. We apply dispersion losses to ensure high inter-class discrepancy among child prompts while preserving semantic consistency between parent-child prompt pairs. To prevent excessive growth of the prompt sets, we utilize the maximum angular coverage (MAC) of the semantic space as a criterion for early termination. We demonstrate the effectiveness of DiPEx through extensive class-agnostic OD and OOD-OD experiments on MS-COCO and LVIS, surpassing other prompting methods by up to 20.1% in AR and achieving a 21.3% AP improvement over SAM. The code is available at https://github.com/jason-lim26/DiPEx.

M$^3$CoT: A Novel Benchmark for Multi-Domain Multi-step Multi-modal Chain-of-Thought

Multi-modal Chain-of-Thought (MCoT) requires models to leverage knowledge from both textual and visual modalities for step-by-step reasoning, which gains increasing attention. Nevertheless, the current MCoT benchmark still faces some challenges: (1) absence of visual modal reasoning, (2) single-step visual modal reasoning, and (3) Domain missing, thereby hindering the development of MCoT. Motivated by this, we introduce a novel benchmark (M$^3$CoT) to address the above challenges, advancing the multi-domain, multi-step, and multi-modal CoT. Additionally, we conduct a thorough evaluation involving abundant MCoT approaches on Vision Large Language Models (VLLMs). In addition, we highlight that the current VLLMs still struggle to correctly reason in M$^3$CoT and there remains a large gap between existing VLLMs and human performance in M$^3$CoT, despite their superior results on previous MCoT benchmarks. To our knowledge, we take the first meaningful step toward the multi-domain, multi-step, and multi-modal scenario in MCoT. We hope that M$^3$CoT can serve as a valuable resource, providing a pioneering foundation in multi-domain, multi-step, multi-modal chain-of-thought research.

ECC Analyzer: Extract Trading Signal from Earnings Conference Calls using Large Language Model for Stock Performance Prediction

In the realm of financial analytics, leveraging unstructured data, such as earnings conference calls (ECCs), to forecast stock performance is a critical challenge that has attracted both academics and investors. While previous studies have used deep learning-based models to obtain a general view of ECCs, they often fail to capture detailed, complex information. Our study introduces a novel framework: \textbf{ECC Analyzer}, combining Large Language Models (LLMs) and multi-modal techniques to extract richer, more predictive insights. The model begins by summarizing the transcript's structure and analyzing the speakers' mode and confidence level by detecting variations in tone and pitch for audio. This analysis helps investors form an overview perception of the ECCs. Moreover, this model uses the Retrieval-Augmented Generation (RAG) based methods to meticulously extract the focuses that have a significant impact on stock performance from an expert's perspective, providing a more targeted analysis. The model goes a step further by enriching these extracted focuses with additional layers of analysis, such as sentiment and audio segment features. By integrating these insights, the ECC Analyzer performs multi-task predictions of stock performance, including volatility, value-at-risk (VaR), and return for different intervals. The results show that our model outperforms traditional analytic benchmarks, confirming the effectiveness of using advanced LLM techniques in financial analytics.

RiskLabs: Predicting Financial Risk Using Large Language Model Based on Multi-Sources Data

The integration of Artificial Intelligence (AI) techniques, particularly large language models (LLMs), in finance has garnered increasing academic attention. Despite progress, existing studies predominantly focus on tasks like financial text summarization, question-answering (Q$\&$A), and stock movement prediction (binary classification), with a notable gap in the application of LLMs for financial risk prediction. Addressing this gap, in this paper, we introduce \textbf{RiskLabs}, a novel framework that leverages LLMs to analyze and predict financial risks. RiskLabs uniquely combines different types of financial data, including textual and vocal information from Earnings Conference Calls (ECCs), market-related time series data, and contextual news data surrounding ECC release dates. Our approach involves a multi-stage process: initially extracting and analyzing ECC data using LLMs, followed by gathering and processing time-series data before the ECC dates to model and understand risk over different timeframes. Using multimodal fusion techniques, RiskLabs amalgamates these varied data features for comprehensive multi-task financial risk prediction. Empirical experiment results demonstrate RiskLab's effectiveness in forecasting both volatility and variance in financial markets. Through comparative experiments, we demonstrate how different data sources contribute to financial risk assessment and discuss the critical role of LLMs in this context. Our findings not only contribute to the AI in finance application but also open new avenues for applying LLMs in financial risk assessment.

Multilingual Large Language Model: A Survey of Resources, Taxonomy and Frontiers

Multilingual Large Language Models are capable of using powerful Large Language Models to handle and respond to queries in multiple languages, which achieves remarkable success in multilingual natural language processing tasks. Despite these breakthroughs, there still remains a lack of a comprehensive survey to summarize existing approaches and recent developments in this field. To this end, in this paper, we present a thorough review and provide a unified perspective to summarize the recent progress as well as emerging trends in multilingual large language models (MLLMs) literature. The contributions of this paper can be summarized: (1) First survey: to our knowledge, we take the first step and present a thorough review in MLLMs research field according to multi-lingual alignment; (2) New taxonomy: we offer a new and unified perspective to summarize the current progress of MLLMs; (3) New frontiers: we highlight several emerging frontiers and discuss the corresponding challenges; (4) Abundant resources: we collect abundant open-source resources, including relevant papers, data corpora, and leaderboards. We hope our work can provide the community with quick access and spur breakthrough research in MLLMs.

InternLM2 Technical Report

The evolution of Large Language Models (LLMs) like ChatGPT and GPT-4 has sparked discussions on the advent of Artificial General Intelligence (AGI). However, replicating such advancements in open-source models has been challenging. This paper introduces InternLM2, an open-source LLM that outperforms its predecessors in comprehensive evaluations across 6 dimensions and 30 benchmarks, long-context modeling, and open-ended subjective evaluations through innovative pre-training and optimization techniques. The pre-training process of InternLM2 is meticulously detailed, highlighting the preparation of diverse data types including text, code, and long-context data. InternLM2 efficiently captures long-term dependencies, initially trained on 4k tokens before advancing to 32k tokens in pre-training and fine-tuning stages, exhibiting remarkable performance on the 200k ``Needle-in-a-Haystack" test. InternLM2 is further aligned using Supervised Fine-Tuning (SFT) and a novel Conditional Online Reinforcement Learning from Human Feedback (COOL RLHF) strategy that addresses conflicting human preferences and reward hacking. By releasing InternLM2 models in different training stages and model sizes, we provide the community with insights into the model's evolution.

Movable-Antenna Position Optimization: A Graph-based Approach

Fluid antennas (FAs) and movable antennas (MAs) have emerged as promising technologies in wireless communications, which offer the flexibility to improve channel conditions by adjusting transmit/receive antenna positions within a spatial region. In this letter, we focus on an MA-enhanced multiple-input single-output (MISO) communication system, aiming to optimize the positions of multiple transmit MAs to maximize the received signal power. Unlike the prior works on continuously searching for the optimal MA positions, we propose to sample the transmit region into discrete points, such that the continuous antenna position optimization problem is transformed to a discrete sampling point selection problem based on the point-wise channel information. However, such a point selection problem is combinatory and challenging to be optimally solved. To tackle this challenge, we ingeniously recast it as an equivalent fixed-hop shortest path problem in graph theory and propose a customized algorithm to solve it optimally in polynomial time. To further reduce the complexity, a linear-time sequential update algorithm is also proposed to obtain a high-quality suboptimal solution. Numerical results demonstrate that the proposed algorithms can yield considerable performance gains over the conventional fixed-position antennas with/without antenna selection.