Xupeng Chen

Haowei Ni, Shuchen Meng, Xupeng Chen et al.

Accurate stock market predictions following earnings reports are crucial for investors. Traditional methods, particularly classical machine learning models, struggle with these predictions because they cannot effectively process and interpret extensive textual data contained in earnings reports and often overlook nuances that influence market movements. This paper introduces an advanced approach by employing Large Language Models (LLMs) instruction fine-tuned with a novel combination of instruction-based techniques and quantized low-rank adaptation (QLoRA) compression. Our methodology integrates 'base factors', such as financial metric growth and earnings transcripts, with 'external factors', including recent market indices performances and analyst grades, to create a rich, supervised dataset. This comprehensive dataset enables our models to achieve superior predictive performance in terms of accuracy, weighted F1, and Matthews correlation coefficient (MCC), especially evident in the comparison with benchmarks such as GPT-4. We specifically highlight the efficacy of the llama-3-8b-Instruct-4bit model, which showcases significant improvements over baseline models. The paper also discusses the potential of expanding the output capabilities to include a 'Hold' option and extending the prediction horizon, aiming to accommodate various investment styles and time frames. This study not only demonstrates the power of integrating cutting-edge AI with fine-tuned financial data but also paves the way for future research in enhancing AI-driven financial analysis tools.

Chenqian Le, Ruisi Li, Beatrice Fumagalli et al.

We test whether Speech Articulatory Coding (SPARC) features can linearly predict surface electromyography (sEMG) envelopes across aloud, mimed, and subvocal speech in twenty-four subjects. Using elastic-net multivariate temporal response function (mTRF) with sentence-level cross-validation, SPARC yields higher prediction accuracy than phoneme one-hot representations on nearly all electrodes and in all speech modes. Aloud and mimed speech perform comparably, and subvocal speech remains above chance, indicating detectable articulatory activity. Variance partitioning shows a substantial unique contribution from SPARC and a minimal unique contribution from phoneme features. mTRF weight patterns reveal anatomically interpretable relationships between electrode sites and articulatory movements that remain consistent across modes. This study focuses on representation/encoding analysis (not end-to-end decoding) and supports SPARC as a robust and interpretable intermediate target for sEMG-based silent-speech modeling.

Yiming Zhou, Zixuan Zeng, Andi Chen et al.

Exploring the capabilities of Neural Radiance Fields (NeRF) and Gaussian-based methods in the context of 3D scene reconstruction, this study contrasts these modern approaches with traditional Simultaneous Localization and Mapping (SLAM) systems. Utilizing datasets such as Replica and ScanNet, we assess performance based on tracking accuracy, mapping fidelity, and view synthesis. Findings reveal that NeRF excels in view synthesis, offering unique capabilities in generating new perspectives from existing data, albeit at slower processing speeds. Conversely, Gaussian-based methods provide rapid processing and significant expressiveness but lack comprehensive scene completion. Enhanced by global optimization and loop closure techniques, newer methods like NICE-SLAM and SplaTAM not only surpass older frameworks such as ORB-SLAM2 in terms of robustness but also demonstrate superior performance in dynamic and complex environments. This comparative analysis bridges theoretical research with practical implications, shedding light on future developments in robust 3D scene reconstruction across various real-world applications.

Jiaxiang Liu, Jiawei Du, Xupeng Chen et al.

Cross-subject brain-to-visual decoding remains a core challenge in brain-computer interfaces due to severe inter-individual variability that induces systematic subject-specific functional misalignment. To address this issue, we propose MindAdapter, a parameter-efficient few-shot calibration framework for pretrained brain-to-visual decoding models. MindAdapter adopts a decoupled linear-residual cascade alignment paradigm by freezing a pretrained explicit brain functional alignment backbone (coarse) and introducing a lightweight nonlinear residual adapter (fine), thereby disentangling global cross-subject correspondence from subject-specific residual corrections for fine-grained spatial and semantic calibration. To further preserve global representational stability, we design a topology-anchored dual-stream manifold constraint, where a small set of shared stimuli serves as topological pins with voxel-level paired supervision, while a semantic stream enforces consistency through a frozen vision-language decoder on unpaired brain data. Together, MindAdapter efficiently injects subject-specific corrections while maintaining the global representational geometry learned during pretraining. Experiments on the Natural Scenes Dataset (NSD) demonstrate that MindAdapter substantially improves cross-subject visual reconstruction and retrieval accuracy using only a few shared stimuli, offering a practical and data-efficient solution for personalized brain-to-visual decoding.

Panayiotis Christou, Shichu Chen, Xupeng Chen et al.

Time-series forecasting has seen significant advancements with the introduction of token prediction mechanisms such as multi-head attention. However, these methods often struggle to achieve the same performance as in language modeling, primarily due to the quadratic computational cost and the complexity of capturing long-range dependencies in time-series data. State-space models (SSMs), such as Mamba, have shown promise in addressing these challenges by offering efficient solutions with linear RNNs capable of modeling long sequences with larger context windows. However, there remains room for improvement in accuracy and scalability. We propose the use of Test-Time Training (TTT) modules in a parallel architecture to enhance performance in long-term time series forecasting. Through extensive experiments on standard benchmark datasets, we demonstrate that TTT modules consistently outperform state-of-the-art models, including the Mamba-based TimeMachine, particularly in scenarios involving extended sequence and prediction lengths. Our results show significant improvements in Mean Squared Error (MSE) and Mean Absolute Error (MAE), especially on larger datasets such as Electricity, Traffic, and Weather, underscoring the effectiveness of TTT in capturing long-range dependencies. Additionally, we explore various convolutional architectures within the TTT framework, showing that even simple configurations like 1D convolution with small filters can achieve competitive results. This work sets a new benchmark for time-series forecasting and lays the groundwork for future research in scalable, high-performance forecasting models.

Chenqian Le, Ziheng Gong, Chihang Wang et al.

Large language models (LLMs) have shown great potential in medical question answering (MedQA), yet adapting them to biomedical reasoning remains challenging due to domain-specific complexity and limited supervision. In this work, we study how prompt design and lightweight fine-tuning affect the performance of open-source LLMs on PubMedQA, a benchmark for multiple-choice biomedical questions. We focus on two widely used prompting strategies - standard instruction prompts and Chain-of-Thought (CoT) prompts - and apply QLoRA for parameter-efficient instruction tuning. Across multiple model families and sizes, our experiments show that CoT prompting alone can improve reasoning in zero-shot settings, while instruction tuning significantly boosts accuracy. However, fine-tuning on CoT prompts does not universally enhance performance and may even degrade it for certain larger models. These findings suggest that reasoning-aware prompts are useful, but their benefits are model- and scale-dependent. Our study offers practical insights into combining prompt engineering with efficient finetuning for medical QA applications.

Yifei Chen, Xupeng Chen, Feng Wang et al.

Autonomous aerial robots operating in GPS-denied or communication-degraded environments frequently lose access to camera metadata and telemetry, leaving onboard perception systems unable to recover the absolute metric scale of the scene. As LLM/VLM-based planners are increasingly adopted as high-level agents for embodied systems, their ability to reason about physical dimensions becomes safety-critical -- yet our experiments show that five state-of-the-art VLMs suffer from spatial scale hallucinations, with median area estimation errors exceeding 50%. We propose VANGUARD, a lightweight, deterministic Geometric Perception Skill designed as a callable tool that any LLM-based agent can invoke to recover Ground Sample Distance (GSD) from ubiquitous environmental anchors: small vehicles detected via oriented bounding boxes, whose modal pixel length is robustly estimated through kernel density estimation and converted to GSD using a pre-calibrated reference length. The tool returns both a GSD estimate and a composite confidence score, enabling the calling agent to autonomously decide whether to trust the measurement or fall back to alternative strategies. On the DOTA~v1.5 benchmark, VANGUARD achieves 6.87% median GSD error on 306~images. Integrated with SAM-based segmentation for downstream area measurement, the pipeline yields 19.7% median error on a 100-entry benchmark -- with 2.6x lower category dependence and 4x fewer catastrophic failures than the best VLM baseline -- demonstrating that equipping agents with deterministic geometric tools is essential for safe autonomous spatial reasoning.

Shuchen Meng, Xupeng Chen

We develop a unified model in which AI adoption in financial markets generates systemic risk through three mutually reinforcing channels: performative prediction, algorithmic herding, and cognitive dependency. Within an extended rational expectations framework with endogenous adoption, we derive an equilibrium systemic risk coupling $r(ϕ) = ϕρβ/λ'(ϕ)$, where $ϕ$ is the AI adoption share, $ρ$ the algorithmic signal correlation, $β$ the performative feedback intensity, and $λ'(ϕ)$ the endogenous effective price impact. Because $λ'(ϕ)$ is decreasing in $ϕ$, the coupling is convex in adoption, implying that the systemic risk multiplier $M = (1 - r)^{-1}$ grows superlinearly as AI penetration increases. The model is developed in three layers. First, endogenous fragility: market depth is decreasing and convex in AI adoption. Second, embedding the convex coupling within a supermodular adoption game produces a saddle-node bifurcation into an algorithmic monoculture. Third, cognitive dependency as an endogenous state variable yields an impossibility theorem (hysteresis requires dynamics beyond static frameworks) and a channel necessity theorem (each channel is individually necessary). Empirical validation uses the complete universe of SEC Form 13F filings (99.5 million holdings, 10,957 institutional managers, 2013--2024) with a Bartik shift-share instrument (first-stage $F = 22.7$). The model implies tail-loss amplification of 18--54%, economically significant relative to Basel III countercyclical buffers.

Xupeng Chen

We formalize a macro-financial stress test for rapid AI adoption. Rather than a productivity bust or existential risk, we identify a distribution-and-contract mismatch: AI-generated abundance coexists with demand deficiency because economic institutions are anchored to human cognitive scarcity. Three mechanisms formalize this channel. First, a displacement spiral with competing reinstatement effects: each firm's rational decision to substitute AI for labor reduces aggregate labor income, which reduces aggregate demand, accelerating further AI adoption. We derive conditions on the AI capability growth rate, diffusion speed, and reinstatement rate under which the net feedback is self-limiting versus explosive. Second, Ghost GDP: when AI-generated output substitutes for labor-generated output, monetary velocity declines monotonically in the labor share absent compensating transfers, creating a wedge between measured output and consumption-relevant income. Third, intermediation collapse: AI agents that reduce information frictions compress intermediary margins toward pure logistics costs, triggering repricing across SaaS, payments, consulting, insurance, and financial advisory. Because top-quintile earners drive 47--65\% of U.S.\ consumption and face the highest AI exposure, the transmission into private credit (\$2.5 trillion globally) and mortgage markets (\$13 trillion) is disproportionate. We derive eleven testable predictions with explicit falsification conditions. Calibrated simulations disciplined by FRED time series and BLS occupation-level data quantify conditions under which stable adjustment transitions to explosive crisis.

Xupeng Chen, Binbin Shi, Chenqian Le et al.

Deploying vision-language models (VLMs) in clinical settings demands auditable behavior under realistic failure conditions, yet the failure landscape of frontier VLMs on specialized medical inputs is poorly characterized. We audit five recent frontier and grounding-aware VLMs (Gemini~2.5~Pro, GPT-5, o3, GLM-4.5V, Qwen~2.5~VL) on Medical VQA along two trust-relevant axes. Perception: all models localize anatomical and pathological targets poorly -- the best model reaches only 0.23 mean IoU and 19.1% Acc@0.5 -- and exhibit clinically dangerous laterality confusion. Pipeline integration: a self-grounding pipeline, where the same model localizes then answers, degrades VQA accuracy for every model -- driven by both inaccurate localization and format-compliance failures under the two-step prompt (parse failure rises to 70%--99% for Gemini and GPT-5 on VQA-RAD). Replacing predicted boxes with ground-truth annotations recovers and improves VQA accuracy, consistent with the failure residing in the perception module rather than in the decomposition itself. These observational findings identify grounding quality as a primary trustworthiness bottleneck in our SLAKE bounding-box setting. As a complementary fine-tuning follow-up, supervised fine-tuning of Qwen~2.5~VL on combined Med-VQA training data attains the highest reported SLAKE open-ended recall (85.5%) among comparable methods, suggesting that the VQA-level gap is tractable with domain adaptation; whether this also closes the perception/trustworthiness bottleneck is left to future work.

Xupeng Chen, Binbin Shi, Chenqian Le et al.

Medical retrieval-augmented generation (RAG) systems typically operate on text chunks extracted from biomedical literature, discarding the rich visual content (tables, figures, structured layouts) of original document pages. We propose MED-VRAG, an iterative multimodal RAG framework that retrieves and reasons over PMC document page images instead of OCR'd text. The system pairs ColQwen2.5 patch-level page embeddings with a sharded MapReduce LLM filter, scaling to ~350K pages while keeping Stage-1 retrieval under 30 ms via an offline coarse-to-fine index (C=8 centroids per page, ANN over centroids, exact two-way scoring on the top-R shortlist). A vision-language model (VLM) then iteratively refines its query and accumulates evidence in a memory bank across up to 3 reasoning rounds, with a single iteration costing ~15.9 s and the full three-round pipeline ~47.8 s on 4xA100. Across four medical QA benchmarks (MedQA, MedMCQA, PubMedQA, MMLU-Med), MEDVRAG reaches 78.6% average accuracy. Under controlled comparison with the same Qwen2.5-VL-32B backbone, retrieval contributes a +5.8 point gain over the no-retrieval baseline; we also note a +1.8 point edge over MedRAG + GPT-4 (76.8%), with the caveat that this is a cross-paper rather than head-to-head comparison. Ablations isolate +1.0 from page-image vs text-chunk retrieval, +1.5 from iteration, and +1.0 from the memory bank.

Xupeng Chen, Zhixin Lai, Kangrui Ruan et al.

Artificial intelligence has made significant strides in medical visual question answering (Med-VQA), yet prevalent studies often interpret images holistically, overlooking the visual regions of interest that may contain crucial information, potentially aligning with a doctor's prior knowledge that can be incorporated with minimal annotations (e.g., bounding boxes). To address this gap, this paper introduces R-LLaVA, designed to enhance biomedical VQA understanding by integrating simple medical annotations as prior knowledge directly into the image space through CLIP. These annotated visual regions of interest are then fed into the LLaVA model during training, aiming to enrich the model's understanding of biomedical queries. Experimental evaluation on four standard Med-VQA datasets demonstrates R-LLaVA's superiority over existing state-of-the-art (SoTA) methods. Additionally, to verify the model's capability in visual comprehension, a novel multiple-choice medical visual understanding dataset is introduced, confirming the positive impact of focusing on visual regions of interest in advancing biomedical VQA understanding.

Xiaomin Li, Xupeng Chen, Jingxuan Fan et al.

The safety alignment of large language models (LLMs) often relies on reinforcement learning from human feedback (RLHF), which requires human annotations to construct preference datasets. Given the challenge of assigning overall quality scores to data, recent works increasingly adopt fine-grained ratings based on multiple safety rules. In this paper, we discover a robust phenomenon: Rules with higher rating entropy tend to have lower accuracy in distinguishing human-preferred responses. Exploiting this insight, we propose ENCORE, a simple entropy-guided method to compose multi-head rewards by penalizing rules with high rating entropy. Theoretically, we show that such rules yield negligible weights under the Bradley-Terry loss during weight optimization, naturally justifying their penalization. Empirically, ENCORE consistently outperforms strong baselines, including random and uniform weighting, single-head Bradley-Terry, and LLM-as-a-judge, etc. on RewardBench safety tasks. Our method is completely training-free, generally applicable across datasets, and retains interpretability, making it a practical and effective approach for multi-attribute reward modeling.

Shuchen Meng, Andi Chen, Chihang Wang et al.

Accurate exchange rate prediction is fundamental to financial stability and international trade, positioning it as a critical focus in economic and financial research. Traditional forecasting models often falter when addressing the inherent complexities and non-linearities of exchange rate data. This study explores the application of advanced deep learning models, including LSTM, CNN, and transformer-based architectures, to enhance the predictive accuracy of the RMB/USD exchange rate. Utilizing 40 features across 6 categories, the analysis identifies TSMixer as the most effective model for this task. A rigorous feature selection process emphasizes the inclusion of key economic indicators, such as China-U.S. trade volumes and exchange rates of other major currencies like the euro-RMB and yen-dollar pairs. The integration of grad-CAM visualization techniques further enhances model interpretability, allowing for clearer identification of the most influential features and bolstering the credibility of the predictions. These findings underscore the pivotal role of fundamental economic data in exchange rate forecasting and highlight the substantial potential of machine learning models to deliver more accurate and reliable predictions, thereby serving as a valuable tool for financial analysis and decision-making.

Shuchen Meng, Xupeng Chen

We show that AI-driven investment strategies are inherently self-defeating at scale. As AI adoption rises, three mutually reinforcing channels -- signal crowding, performative signal erosion, and Red Queen competition -- compress excess returns. We derive the alpha half-life $h(ϕ) = \ln 2/[θ+ δ(ϕ)]$, where $θ$ is the natural mean-reversion rate and $δ(ϕ) = Nϕρa/λ(ϕ)$ is the AI-accelerated decay component, which is convex-decreasing in adoption. At current adoption levels ($ϕ\approx 0.7$, $ρ\approx 0.6$), the model implies signal half-lives of 18 months versus 5-7 years pre-AI. We establish four theoretical results. First, the alpha half-life theorem: signal lifespans are convex-decreasing in AI adoption. Second, a signal extinction cascade: beyond a critical threshold $ϕ^*$, the decay of one signal class triggers accelerated competition for remaining signals. Third, a Red Queen impossibility: in the monoculture equilibrium, net alpha is identically zero despite heavy AI investment. Fourth, a fragility-efficiency tradeoff: the adoption level maximizing price discovery strictly exceeds the level minimizing systemic fragility. Empirical validation calibrates portfolio convergence to SEC Form 13F filing patterns (99.5 million holdings, 2013-2024), documenting that simulated institutional portfolio convergence increases by 42% over the sample period. We examine simulated hedge fund return dynamics showing declining cross-sectional dispersion among AI-adopting funds, and simulate the 2010 Flash Crash to illustrate fragility consequences.

Chenqian Le, Yilin Zhao, Nikasadat Emami et al.

Recent advances in fMRI-based visual decoding have enabled compelling reconstructions of perceived images. However, most approaches rely on subject-specific training, limiting scalability and practical deployment. We introduce \textbf{VoxelFormer}, a lightweight transformer architecture that enables multi-subject training for visual decoding from fMRI. VoxelFormer integrates a Token Merging Transformer (ToMer) for efficient voxel compression and a query-driven Q-Former that produces fixed-size neural representations aligned with the CLIP image embedding space. Evaluated on the 7T Natural Scenes Dataset, VoxelFormer achieves competitive retrieval performance on subjects included during training with significantly fewer parameters than existing methods. These results highlight token merging and query-based transformers as promising strategies for parameter-efficient neural decoding.

Nikasadat Emami, Amirhossein Khalilian-Gourtani, Jianghao Qian et al.

Identifying cortical regions critical for speech is essential for safe brain surgery in or near language areas. While Electrical Stimulation Mapping (ESM) remains the clinical gold standard, it is invasive and time-consuming. To address this, we analyzed intracranial electrocorticographic (ECoG) data from 16 participants performing speech tasks and developed machine learning models to directly predict if the brain region underneath each ECoG electrode is critical. Ground truth labels indicating speech arrest were derived independently from Electrical Stimulation Mapping (ESM) and used to train classification models. Our framework integrates neural activity signals, anatomical region labels, and functional connectivity features to capture both local activity and network-level dynamics. We found that models combining region and connectivity features matched the performance of the full feature set, and outperformed models using either type alone. To classify each electrode, trial-level predictions were aggregated using an MLP applied to histogram-encoded scores. Our best-performing model, a trial-level RBF-kernel Support Vector Machine together with MLP-based aggregation, achieved strong accuracy on held-out participants (ROC-AUC: 0.87, PR-AUC: 0.57). These findings highlight the value of combining spatial and network information with non-linear modeling to improve functional mapping in presurgical evaluation.

Haowei Ni, Shuchen Meng, Xieming Geng et al.

Cardiovascular disease (CVD) is a leading cause of death globally, necessitating precise forecasting models for monitoring vital signs like heart rate, blood pressure, and ECG. Traditional models, such as ARIMA and Prophet, are limited by their need for manual parameter tuning and challenges in handling noisy, sparse, and highly variable medical data. This study investigates advanced deep learning models, including LSTM, and transformer-based architectures, for predicting heart rate time series from the MIT-BIH Database. Results demonstrate that deep learning models, particularly PatchTST, significantly outperform traditional models across multiple metrics, capturing complex patterns and dependencies more effectively. This research underscores the potential of deep learning to enhance patient monitoring and CVD management, suggesting substantial clinical benefits. Future work should extend these findings to larger, more diverse datasets and real-world clinical applications to further validate and optimize model performance.

Binbin Shi, Xupeng Chen

Heterosis is the improved or increased function of any biological quality in a hybrid offspring. We have studied yet the largest maize SNP dataset for traits prediction. We develop linear and non-linear models which consider relationships between different hybrids as well as other effect. Specially designed model proved to be efficient and robust in prediction maize's traits.

Xupeng Chen, Binbin Shi

We build a deep learning model to detect and classify heart disease using $X-ray$. We collect data from several hospitals and public datasets. After preprocess we get 3026 images including disease type VSD, ASD, TOF and normal control. The main problem we have to solve is to enable the network to accurately learn the characteristics of the heart, to ensure the reliability of the network while increasing accuracy. By learning the doctor's diagnostic experience, labeling the image and using tools to extract masks of heart region, we train a U-net to generate a mask to give more attention. It forces the model to focus on the characteristics of the heart region and obtain more reliable results.