Georg Meinhardt

Alex Wang, Georg Meinhardt, Jacob Katz et al.

Financial-research answers are decision-relevant only when another analyst can audit how they were produced: which source was chosen, which period and accounting definition were used, which assumptions were made, and how the calculation was performed. Existing finance benchmarks largely evaluate isolated subskills or final answers, leaving the auditable derivation itself under-measured. We introduce BigFinanceBench, a 928-item expert-authored benchmark of open-ended financial-research tasks in which each item pairs a ground-truth reference answer with a point-weighted rubric that decomposes the derivation into independently checkable steps. BigFinanceBench is workflow-grounded in that it evaluates the full derivation rather than only the final output. Across 36,241 rubric points, the benchmark supports partial-credit evaluation and localization of failures across the analyst workflow. Evaluating ten current frontier and open-weight agents, we find substantial headroom: the best system reaches only 58.8% rubric score, final-answer accuracy is a useful but lossy proxy for derivation quality, and model capability varies non-uniformly across financial workflows.

Kai Yi, Georg Meinhardt, Laurent Condat et al.

Federated Learning (FL) has garnered increasing attention due to its unique characteristic of allowing heterogeneous clients to process their private data locally and interact with a central server, while being respectful of privacy. A critical bottleneck in FL is the communication cost. A pivotal strategy to mitigate this burden is Local Training, which involves running multiple local stochastic gradient descent iterations between communication phases. Our work is inspired by the innovative Scaffnew algorithm, which has considerably advanced the reduction of communication complexity in FL. We introduce FedComLoc (Federated Compressed and Local Training), integrating practical and effective compression into Scaffnew to further enhance communication efficiency. Extensive experiments, using the popular TopK compressor and quantization, demonstrate its prowess in substantially reducing communication overheads in heterogeneous settings.