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Ziyang Liu

Ziyang Liu contributes to research discovery and scholarly infrastructure.

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Published work

11 published item(s)

preprint2026arXiv

FinDeepForecast: A Live Multi-Agent System for Benchmarking Deep Research Agents in Financial Forecasting

Deep Research (DR) Agents powered by advanced Large Language Models (LLMs) have fundamentally shifted the paradigm for completing complex research tasks. Yet, a comprehensive and live evaluation of their forecasting performance on real-world, research-oriented tasks in high-stakes domains (e.g., finance) remains underexplored. We introduce FinDeepForecast, the first live, end-to-end multi-agent system for automatically evaluating DR agents by continuously generating research-oriented financial forecasting tasks. This system is equipped with a dual-track taxonomy, enabling the dynamic generation of recurrent and non-recurrent forecasting tasks at both corporate and macro levels. With this system, we generate FinDeepForecastBench, a weekly evaluation benchmark over a ten-week horizon, encompassing 8 global economies and 1,314 listed companies, and evaluate 13 representative methods. Extensive experiments show that, while DR agents consistently outperform strong baselines, their performance still falls short of genuine forward-looking financial reasoning. We expect the proposed FinDeepForecast system to consistently facilitate future advancements of DR agents in research-oriented financial forecasting tasks. The benchmark and leaderboard are publicly available on the OpenFinArena Platform.

preprint2026arXiv

FinDeepResearch: Evaluating Deep Research Agents in Rigorous Financial Analysis

Deep Research (DR) agents, powered by advanced Large Language Models (LLMs), have recently garnered increasing attention for their capability in conducting complex research tasks. However, existing literature lacks a rigorous and systematic evaluation of DR Agent's capabilities in critical research analysis. To address this gap, we first propose HisRubric, a novel evaluation framework with a hierarchical analytical structure and a fine-grained grading rubric for rigorously assessing DR agents' capabilities in corporate financial analysis. This framework mirrors the professional analyst's workflow, progressing from data recognition to metric calculation, and finally to strategic summarization and interpretation. Built on this framework, we construct a FinDeepResearch benchmark that comprises 64 listed companies from 8 financial markets across 4 languages, encompassing a total of 15,808 grading items. We further conduct extensive experiments on the FinDeepResearch using 16 representative methods, including 6 DR agents, 5 LLMs equipped with both deep reasoning and search capabilities, and 5 LLMs with deep reasoning capabilities only. The results reveal the strengths and limitations of these approaches across diverse capabilities, financial markets, and languages, offering valuable insights for future research and development. The benchmark and evaluation code is publicly available at https://OpenFinArena.com/.

preprint2026arXiv

Towards Universal Physical Adversarial Attacks via a Joint Multi-Objective and Multi-Model Optimization Framework

Physical adversarial attacks often overfit single surrogate models and optimization objectives. While ensemble attacks can mitigate this, existing methods struggle with severe gradient conflicts within restricted physical texture spaces, significantly degrading cross-model transferability. To bridge this gap, this paper proposes a Joint Multi-Objective and Multi-Model Optimization Framework (JMOF) that leverages quantitative similarity analysis to select the optimal surrogate model ensemble. Within JMOF, a dual-level mechanism jointly suppresses prediction outputs and flattens intermediate feature distributions, balancing attack efficiency with deep generalization. Additionally, an Orthogonal Gradient Alignment (OGA) strategy resolves cross-model gradient conflicts, transforming mutually repulsive gradients into synergistic optimization directions. Extensive simulated and real-world experiments demonstrate that JMOF outperforms state-of-the-art baselines against diverse black-box detectors. Crucially, JMOF exhibits substantial cross-vision-task generalization, generating attacks capable of simultaneously deceiving object detection and semantic segmentation or monocular depth estimation models. This research advances the generalization limits of physical adversarial attacks, providing a robust framework for evaluating visual AI vulnerabilities in real-world deployments.

preprint2026arXiv

UAM: A Dual-Stream Perspective on Forgetting in VLA Training

Vision--language--action (VLA) models are typically built by fine-tuning a pretrained vision--language model (VLM) on action data. However, we show that this standard recipe systematically erodes the VLM's multimodal competence, a side effect we call the embodiment tax. But do VLAs have to forget? Inspired by the two-stream organization of biological vision, we trace this degradation to a structural bottleneck: current VLAs ask a single encoder to support both language-grounded semantics and control-relevant visual features, whereas biological vision separates recognition and visuomotor control into distinct pathways. Building on this view, we propose the Unified Action Model (UAM), which adds a parallel Dorsal Expert, an analog of the brain's dorsal pathway. To make the Dorsal Expert an effective second pathway and reduce the control-learning burden on the VLM, we initialize it from a pretrained generative model and train it with a mid-level reasoning objective that predicts visual dynamics. This design allows us to train the whole VLA end-to-end on action data alone: with no parameter freezing, no gradient stopping, and no auxiliary VL co-training, UAM retains over $95\%$ of the underlying VLM's multimodal capability and at the same time achieves the highest average success rate among baselines on a variety of manipulation tasks that probe out-of-distribution generalization, including unseen objects, novel object--target compositions, and instruction variation. Together, these results suggest that semantic preservation in VLAs can emerge from architectural separation itself, rather than being enforced by frozen weights or auxiliary data replay, and that this preserved semantic capability can naturally transfer from VLMs to semantic generalization in actions.

preprint2022arXiv

RDU: A Region-based Approach to Form-style Document Understanding

Key Information Extraction (KIE) is aimed at extracting structured information (e.g. key-value pairs) from form-style documents (e.g. invoices), which makes an important step towards intelligent document understanding. Previous approaches generally tackle KIE by sequence tagging, which faces difficulty to process non-flatten sequences, especially for table-text mixed documents. These approaches also suffer from the trouble of pre-defining a fixed set of labels for each type of documents, as well as the label imbalance issue. In this work, we assume Optical Character Recognition (OCR) has been applied to input documents, and reformulate the KIE task as a region prediction problem in the two-dimensional (2D) space given a target field. Following this new setup, we develop a new KIE model named Region-based Document Understanding (RDU) that takes as input the text content and corresponding coordinates of a document, and tries to predict the result by localizing a bounding-box-like region. Our RDU first applies a layout-aware BERT equipped with a soft layout attention masking and bias mechanism to incorporate layout information into the representations. Then, a list of candidate regions is generated from the representations via a Region Proposal Module inspired by computer vision models widely applied for object detection. Finally, a Region Categorization Module and a Region Selection Module are adopted to judge whether a proposed region is valid and select the one with the largest probability from all proposed regions respectively. Experiments on four types of form-style documents show that our proposed method can achieve impressive results. In addition, our RDU model can be trained with different document types seamlessly, which is especially helpful over low-resource documents.

preprint2022arXiv

TeKo: Text-Rich Graph Neural Networks with External Knowledge

Graph Neural Networks (GNNs) have gained great popularity in tackling various analytical tasks on graph-structured data (i.e., networks). Typical GNNs and their variants follow a message-passing manner that obtains network representations by the feature propagation process along network topology, which however ignore the rich textual semantics (e.g., local word-sequence) that exist in many real-world networks. Existing methods for text-rich networks integrate textual semantics by mainly utilizing internal information such as topics or phrases/words, which often suffer from an inability to comprehensively mine the text semantics, limiting the reciprocal guidance between network structure and text semantics. To address these problems, we propose a novel text-rich graph neural network with external knowledge (TeKo), in order to take full advantage of both structural and textual information within text-rich networks. Specifically, we first present a flexible heterogeneous semantic network that incorporates high-quality entities and interactions among documents and entities. We then introduce two types of external knowledge, that is, structured triplets and unstructured entity description, to gain a deeper insight into textual semantics. We further design a reciprocal convolutional mechanism for the constructed heterogeneous semantic network, enabling network structure and textual semantics to collaboratively enhance each other and learn high-level network representations. Extensive experimental results on four public text-rich networks as well as a large-scale e-commerce searching dataset illustrate the superior performance of TeKo over state-of-the-art baselines.

preprint2021arXiv

BiTe-GCN: A New GCN Architecture via BidirectionalConvolution of Topology and Features on Text-Rich Networks

Graph convolutional networks (GCNs), aiming to integrate high-order neighborhood information through stacked graph convolution layers, have demonstrated remarkable power in many network analysis tasks. However, topological limitations, including over-smoothing and local topology homophily, limit its capability to represent networks. Existing studies only perform feature convolution on network topology, which inevitably introduces unbalance between topology and features. Considering that in real world, the information network consists of not only the node-level citation information but also the local text-sequence information. We propose BiTe-GCN, a novel GCN architecture with bidirectional convolution of both topology and features on text-rich networks to solve these limitations. We first transform the original text-rich network into an augmented bi-typed heterogeneous network, capturing both the global node-level information and the local text-sequence information from texts. We then introduce discriminative convolution mechanisms to performs convolutions of both topology and features simultaneously. Extensive experiments on text-rich networks demonstrate that our new architecture outperforms state-of-the-art by a breakout improvement. Moreover, this architecture can also be applied to several e-commerce searching scenes such as JD searching. The experiments on the JD dataset validate the superiority of the proposed architecture over the related methods.

preprint2021arXiv

Deep Joint Demosaicing and High Dynamic Range Imaging within a Single Shot

Spatially varying exposure (SVE) is a promising choice for high-dynamic-range (HDR) imaging (HDRI). The SVE-based HDRI, which is called single-shot HDRI, is an efficient solution to avoid ghosting artifacts. However, it is very challenging to restore a full-resolution HDR image from a real-world image with SVE because: a) only one-third of pixels with varying exposures are captured by camera in a Bayer pattern, b) some of the captured pixels are over- and under-exposed. For the former challenge, a spatially varying convolution (SVC) is designed to process the Bayer images carried with varying exposures. For the latter one, an exposure-guidance method is proposed against the interference from over- and under-exposed pixels. Finally, a joint demosaicing and HDRI deep learning framework is formalized to include the two novel components and to realize an end-to-end single-shot HDRI. Experiments indicate that the proposed end-to-end framework avoids the problem of cumulative errors and surpasses the related state-of-the-art methods.

preprint2021arXiv

Heterogeneous Network Embedding for Deep Semantic Relevance Match in E-commerce Search

Result relevance prediction is an essential task of e-commerce search engines to boost the utility of search engines and ensure smooth user experience. The last few years eyewitnessed a flurry of research on the use of Transformer-style models and deep text-match models to improve relevance. However, these two types of models ignored the inherent bipartite network structures that are ubiquitous in e-commerce search logs, making these models ineffective. We propose in this paper a novel Second-order Relevance, which is fundamentally different from the previous First-order Relevance, to improve result relevance prediction. We design, for the first time, an end-to-end First-and-Second-order Relevance prediction model for e-commerce item relevance. The model is augmented by the neighborhood structures of bipartite networks that are built using the information of user behavioral feedback, including clicks and purchases. To ensure that edges accurately encode relevance information, we introduce external knowledge generated from BERT to refine the network of user behaviors. This allows the new model to integrate information from neighboring items and queries, which are highly relevant to the focus query-item pair under consideration. Results of offline experiments showed that the new model significantly improved the prediction accuracy in terms of human relevance judgment. An ablation study showed that the First-and-Second-order model gained a 4.3% average gain over the First-order model. Results of an online A/B test revealed that the new model derived more commercial benefits compared to the base model.

preprint2020arXiv

CORD-19: The COVID-19 Open Research Dataset

The COVID-19 Open Research Dataset (CORD-19) is a growing resource of scientific papers on COVID-19 and related historical coronavirus research. CORD-19 is designed to facilitate the development of text mining and information retrieval systems over its rich collection of metadata and structured full text papers. Since its release, CORD-19 has been downloaded over 200K times and has served as the basis of many COVID-19 text mining and discovery systems. In this article, we describe the mechanics of dataset construction, highlighting challenges and key design decisions, provide an overview of how CORD-19 has been used, and describe several shared tasks built around the dataset. We hope this resource will continue to bring together the computing community, biomedical experts, and policy makers in the search for effective treatments and management policies for COVID-19.

preprint2020arXiv

Hybrid deep neural network based prediction method for unsteady flows with moving boundaries

A novel hybrid deep neural network architecture is designed to capture the spatial-temporal features of unsteady flows around moving boundaries directly from high-dimensional unsteady flow fields data. The hybrid deep neural network is constituted by the convolutional neural network (CNN), improved convolutional Long-Short Term Memory neural network (ConvLSTM) and deconvolutional neural network (DeCNN). Flow fields at future time step can be predicted through flow fields by previous time steps and boundary positions at those steps by the novel hybrid deep neural network. Unsteady wake flows around a forced oscillation cylinder with various amplitudes are calculated to establish the datasets as training samples for training the hybrid deep neural networks. The trained hybrid deep neural networks are then tested by predicting the unsteady flow fields around a forced oscillation cylinder with new amplitude. The effect of neural network structure parameters on prediction accuracy was analyzed. The hybrid deep neural network, constituted by the best parameter combination, is used to predict the flow fields in the future time. The predicted flow fields are in good agreement with those calculated directly by computational fluid dynamic solver, which means that this kind of deep neural network can capture accurate spatial-temporal information from the spatial-temporal series of unsteady flows around moving boundaries. The result shows the potential capability of this kind novel hybrid deep neural network in flow control for vibrating cylinder, where the fast calculation of high-dimensional nonlinear unsteady flow around moving boundaries is needed.