Dong Li

Qianqian Xie, Weiguang Han, Zhengyu Chen et al.

LLMs have transformed NLP and shown promise in various fields, yet their potential in finance is underexplored due to a lack of comprehensive evaluation benchmarks, the rapid development of LLMs, and the complexity of financial tasks. In this paper, we introduce FinBen, the first extensive open-source evaluation benchmark, including 36 datasets spanning 24 financial tasks, covering seven critical aspects: information extraction (IE), textual analysis, question answering (QA), text generation, risk management, forecasting, and decision-making. FinBen offers several key innovations: a broader range of tasks and datasets, the first evaluation of stock trading, novel agent and Retrieval-Augmented Generation (RAG) evaluation, and three novel open-source evaluation datasets for text summarization, question answering, and stock trading. Our evaluation of 15 representative LLMs, including GPT-4, ChatGPT, and the latest Gemini, reveals several key findings: While LLMs excel in IE and textual analysis, they struggle with advanced reasoning and complex tasks like text generation and forecasting. GPT-4 excels in IE and stock trading, while Gemini is better at text generation and forecasting. Instruction-tuned LLMs improve textual analysis but offer limited benefits for complex tasks such as QA. FinBen has been used to host the first financial LLMs shared task at the FinNLP-AgentScen workshop during IJCAI-2024, attracting 12 teams. Their novel solutions outperformed GPT-4, showcasing FinBen's potential to drive innovation in financial LLMs. All datasets, results, and codes are released for the research community: https://github.com/The-FinAI/PIXIU.

Haiduo Huang, Fuwei Yang, Zhenhua Liu et al.

Speculative decoding is a powerful way to accelerate autoregressive large language models (LLMs), but directly porting it to vision-language models (VLMs) faces unique systems constraints: the prefill stage is dominated by visual tokens whose count scales with image resolution and video length, inflating both compute and memory, especially the key-value (KV) cache. We study speculative decoding for VLMs and introduce SpecVLM, a practical system that (1) establishes a strong EAGLE-2-style baseline, EagleVLM, delivering 1.5--2.3x end-to-end speedups over full autoregressive inference, and (2) further accelerates VLM inference with an elastic visual compressor that adaptively selects among pruning, pooling, convolution, and resampler primitives to balance FLOPs/parameters and accuracy per input. To avoid costly offline distillation corpora, we propose an online-logit distillation protocol that trains the draft model with on-the-fly teacher logits and penultimate features using a combined cross-entropy and Smooth L1 objective, eliminating storage and preprocessing while remaining compute-efficient. This protocol reveals a training-time scaling effect: longer online training monotonically increases the draft model's average accepted length, improving speculative efficiency. Empirically, SpecVLM achieves additional acceleration, culminating in 2.5--2.9x end-to-end speedups within 5 epochs across LLaVA and MMMU, consistently over resolutions and task difficulties, while preserving the target model's output distribution (lossless decoding). Our code is available at https://github.com/haiduo/SpecVLM.

Mengxi Xiao, Zihao Jiang, Lingfei Qian et al.

Accurately forecasting stock price movements is critical for informed financial decision-making, supporting applications ranging from algorithmic trading to risk management. However, this task remains challenging due to the difficulty of retrieving subtle yet high-impact patterns from noisy financial time-series data, where conventional retrieval methods, whether based on generic language models or simplistic numeric similarity, often fail to capture the intricate temporal dependencies and context-specific signals essential for precise market prediction. To bridge this gap, we introduce FinSrag, the first retrieval-augmented generation (RAG) framework with a novel domain-specific retriever FinSeer for financial time-series forecasting. FinSeer leverages a candidate selection mechanism refined by LLM feedback and a similarity-driven training objective to align queries with historically influential sequences while filtering out financial noise. Such training enables FinSeer to identify the most relevant time-series data segments for downstream forecasting tasks, unlike embedding or distance-based retrieval methods used in existing RAG frameworks. The retrieved patterns are then fed into StockLLM, a 1B-parameter LLM fine-tuned for stock movement prediction, which serves as the generative backbone. Beyond the retrieval method, we enrich the retrieval corpus by curating new datasets that integrate a broader set of financial indicators, capturing previously overlooked market dynamics. Experiments demonstrate that FinSeer outperforms existing textual retrievers and traditional distance-based retrieval approaches in enhancing the prediction accuracy of StockLLM, underscoring the importance of domain-specific retrieval frameworks in handling the complexity of financial time-series data.

Jinze Li, Yixing Xu, Guanchen Li et al.

Large language models (LLMs) achieve strong performance across diverse tasks but suffer from high inference latency due to their autoregressive generation. Speculative Decoding (SPD) mitigates this issue by verifying candidate tokens in parallel from a smaller draft model, yet its strict exact-match verification discards many semantically valid continuations. Moreover, existing training-based SPD methods often suffer from performance degradation on out-of-distribution (OOD) tasks. To this end, we propose Training-Free Loosely Speculative Decoding (FLy), a novel method that loosens the rigid verification criterion by leveraging the target model's self-corrective behavior to judge whether a draft-target mismatch remains semantically valid. FLy introduces a two-tier mechanism: an entropy-level gate that identifies whether the current token allows multiple plausible alternatives or is nearly deterministic, and a token-level deferred window that distinguishes genuine errors from differently worded yet semantically correct variants. To further reduce latency, we design a multi-level acceleration strategy that accelerates not only the target model but also the drafter itself. Owing to its training-free design, FLy composes seamlessly with arbitrary draft-target pairs and generalizes across models and domains without hyperparameter re-tuning. Experiments show that FLy preserves more than 99% of the target model's accuracy while achieving an average 2.81x speedup on Llama-3.1-70B-Instruct and 5.07x speedup on the 405B variant. Notably, on out-of-domain datasets, our method remains highly effective and outperforms the training-based method EAGLE-3 by 1.62x.