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Edge inference is the process of running machine learning or deep learning models on local devices (edge devices) such as smartphones, IoT devices, embedded systems, and edge servers instead of centralized cloud computing infrastructure. A key feature of edge computing is edge inference, which allows for real-time data processing, low latency, and improved privacy by reducing the amount of data sent to remote servers.
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Julie Beth Lovins (October 19, 1945, in Washington, D.C. – January 26, 2018, in Mountain View, California) was a computational linguist who published The Lovins Stemming Algorithm - a type of stemming algorithm for word matching - in 1968. The Lovins Stemmer is a single pass, context sensitive stemmer, which removes endings based on the longest-match principle. The stemmer was the first to be published and was extremely well developed considering the date of its release, having been the main influence on a large amount of the future work in the area. -Adam G., et al == Background == Born on October 19, 1945, in Washington, D.C., Lovins grew up in Amherst, Massachusetts. Her father Gerald H. Lovins was an engineer and her mother, Miriam Lovins, a social services administrator. Lovins' brother Amory Lovins is the co-founder and chief environmental scientist of Rocky Mountain Institute. For her undergraduate degree, Lovins attended Pembroke College, the women's college of Brown University, which later combined into Brown University in 1971. At Pembroke College, Lovins studied mathematics and linguistics, graduating with honors. Her thesis was named, A Study of Idioms. She received the inaugural Bloch Fellowship in 1970 from the Linguistic Society of America to attend graduate school. Lovins obtained her Master of Arts in 1970 and Doctor of Philosophy in 1973 from the University of Chicago, studying linguistics. At the University of Chicago, her dissertation was titled, Loan Phonology -- Subject Matter. A revision of her thesis on loanwords and the phonological structure of Japanese was published in 1975 by the Indiana University Linguistics Club. == Teaching career == Following Lovins' PhD, she spent a year working as a linguist-at-large at a University of Tokyo language research institute and as an English conversation teacher. She then joined the faculty at Tsuda College as a professor of English and linguistics, where she taught for seven years. During her time as a faculty member at Tsuda College, Lovins also served as a guest researcher in the University of Tokyo's Research Institute of Logopedics and Phoniatrics, a research center for speech science. == Industry career == After teaching Japanese phonology at Japanese universities abroad, Lovins moved back to the U.S. to work in the computing industry. She worked on early speech synthesis at Bell Labs in Murray Hill, New Jersey. At Bell Labs, Lovins worked with Osamu Fujimura, a Japanese linguist who is credited as a pioneer in speech sciences. Lovins also worked as a software engineer at various companies in Silicon Valley and served as a consultant for computational linguistics throughout the 1990s. As a consultant, she called her business, "The Language Doctor." == The Lovins Stemming Algorithm == Lovins published an article about her work on developing a stemming algorithm through the Research Laboratory of Electronics at MIT in 1968. Lovins' stemming algorithm is frequently referred to as the Lovins stemmer. A stemming algorithm is the process of taking a word with suffixes and reducing it to its root, or base word. Stemming algorithms are used to improve the accuracy in information retrieval and in domain analysis. These algorithms help find variants of the terms being queried. Stemming algorithms bring value in their reduction of a given query into its less complex form, allowing more similar documents to be retrieved for similar queries. Stemming algorithms are prevalent in search engines, such as Google Search, which did not implement word stemming until 2003. This means that up until 2003, a Google search for the word warm would not have explicitly returned results for related words like warmth or warming. As the first published stemming algorithm, Lovins' work set a precedent and influenced future work in stemming algorithms, such as the Porter Stemmer published by Martin Porter in 1980 which has been recognized widely as the most common stemming algorithm for stemming English. Additionally, the Dawson Stemmer developed by John Dawson is an extension of the Lovins stemmer. The Lovins stemmer follows a rule-based affix elimination approach. It first removes the longest identifiable suffix from the target word - producing a base stem word - then indexes a lookup table to convert the (potentially malformed) stem word to a valid word. This process can be split into two phases. In the first phase, a word is compared with a pre-determined list of endings, and when a word is found to contain one of these endings, the ending is removed, leaving only the stem of the word. The second phase standardizes spelling exceptions that come from the first phase, ensuring that words with only marginally varying stems are appropriately paired together. For example, with the word dried, phase one results in dri, which should match with the word dry. The second phase takes care of these exceptions. Compared to other stemmers, Lovins' algorithm is fast and equipped to handle irregular plural words like person and people. Disadvantages, however, include many suffixes not being available in the table of endings. Furthermore, it is sometimes highly unreliable and frequently fails to form valid words from the stems or to match the stems of like-meaning words. This is most often caused by the usage of specialist terminology and domain-specific vocabulary by the author. == Personal life == Lovins moved to Mountain View, California, in 1979, and later to Old Mountain View in 1981 with her partner and later husband Greg Fowler, a software engineer and advocate for environmental issues & the blind. In their free time, she and her husband enjoyed taking walks and volunteering for their local community. Lovins actively volunteered for organizations like the Old Mountain View Neighborhood Association, Mountain View Friends of the Library, League of Women Voters, Mountain View Cool Cities Team, and the Mountain View Sustainability Task Force. In 2016, Lovins' husband died unexpectedly, following a heart attack. Eighteen days after her husband died, Lovins was diagnosed with brain cancer. She died on January 26, 2018, at a hospice, surrounded by friends, family and caregivers.
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Curious about the best AI clip maker? An AI clip maker is software that uses machine learning to help you get more done — it combines speed, accuracy, and an interface that just works. Hands-on testing shows real-world results vary, so a short free trial is the smartest way to decide. Whether you are a beginner or a pro, the right AI clip maker slots into your workflow and pays for itself fast. This guide breaks down the top picks, their pros and cons, and who each one is best for.
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Shopping for the best AI art generator? An AI art generator is software that uses machine learning to help you get more done — it keeps getting smarter as the underlying models improve. Pricing, accuracy, and the size of the model behind the tool are the three factors that most affect daily usefulness. Whether you are a beginner or a pro, the right AI art generator slots into your workflow and pays for itself fast. Below we compare features, pricing, and real output so you can choose with confidence.
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The Federal Risk and Authorization Management Program (FedRAMP) is a United States federal government-wide compliance program that provides a standardized approach to security assessment, authorization, and continuous monitoring for cloud products and services. The US government describes FedRAMP as FISMA for the cloud. == Overview == The FedRAMP PMO mission is to promote the adoption of secure cloud services across the federal government by providing a standardized approach to security and risk assessment. Per the OMB memorandum, any cloud services that hold federal data must be FedRAMP authorized. FedRAMP prescribes the security requirements and processes that cloud service providers must follow in order for the government to use their service. There are two ways to authorize a cloud service through FedRAMP: a Joint Authorization Board (JAB) provisional authorization (P-ATO), and through individual agencies. FedRAMP provides accreditation for cloud services for the various cloud offering models which are Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service, (SaaS). == History == In 2011, the Office of Management and Budget (OMB) released a memorandum establishing FedRAMP "to provide a cost-effective, risk-based approach for the adoption and use of cloud services to Executive departments and agencies." The General Services Administration (GSA) established the FedRAMP Program Management Office (PMO) in June 2012. Before the introduction of FedRAMP, individual federal agencies managed their own assessment methodologies following guidance set by the Federal Information Security Management Act of 2002. == Governance and applicable laws == FedRAMP is governed by different Executive Branch entities that collaborate to develop, manage, and operate the program. These entities include: The Office of Management and Budget (OMB): The governing body that issued the FedRAMP policy memo, which defines the key requirements and capabilities of the program The Joint Authorization Board (JAB): The primary governance and decision-making body for FedRAMP comprises the chief information officers (CIOs) from the Department of Homeland Security (DHS), General Services Administration (GSA), and Department of Defense (DOD) The National Institute of Standards and Technology (NIST): Advises FedRAMP on FISMA compliance requirements and assists in developing the standards for the accreditation of independent 3PAOs The Department of Homeland Security (DHS): Manages the FedRAMP continuous monitoring strategy including data feed criteria, reporting structure, threat notification coordination, and incident response The Federal Chief Information Officers (CIO) Council: Disseminates FedRAMP information to Federal CIOs and other representatives through cross-agency communications and events The FedRAMP PMO: Established within GSA and responsible for the development of the FedRAMP program, including the management of day-to-day operations There are several laws, mandates, and policies that are foundational to FedRAMP. FISMA–the Federal Information Security Modernization Act–requires that agencies authorize the information systems that they use. The US government describes FedRAMP as FISMA for the cloud. The FedRAMP Policy Memo requires federal agencies to use FedRAMP when assessing, authorizing, and continuously monitoring cloud services in order to aid agencies in the authorization process as well as save government resources and eliminate duplicative efforts. FedRAMP's security baselines are derived from NIST SP 800-53 (as revised) with a set of control enhancements that pertain to the unique security requirements of cloud computing. == Third-party assessment organizations == Third-party assessment organizations (3PAOs) play a critical role in the FedRAMP security assessment process, as they are the independent assessment organizations that verify cloud providers' security implementations and provide the overall risk posture of a cloud environment for a security authorization decision. Accredited by the American Association for Laboratory Accreditation (A2LA), these assessment organizations must demonstrate independence and the technical competence required to test security implementations and collect representative evidence. == FedRAMP Marketplace == The FedRAMP Marketplace provides a searchable, sortable database of Cloud Service Offerings (CSOs) that have achieved a FedRAMP designation. 3PAOs, accredited auditors that can perform the FedRAMP assessment, are listed within the Marketplace. The FedRAMP Marketplace is maintained by the FedRAMP Program Management Office (PMO). == Security and authorization concerns == A 2026 ProPublica investigation found that FedRAMP entered into a partnership with Microsoft despite considerable concerns about the security of its cloud technology.
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Isolation forest is an unsupervised learning algorithm for anomaly detection that works on the principle of isolating anomalies, instead of the most common techniques of profiling normal points. In statistics, an anomaly (a.k.a. outlier) is an observation or event that deviates so much from other events to arouse suspicion it was generated by a different mean. For example, the graph in Fig.1 represents ingress traffic to a web server, expressed as the number of requests in 3-hours intervals, for a period of one month. It is quite evident by simply looking at the picture that some points (marked with a red circle) are unusually high, to the point of inducing suspect that the web server might have been under attack at that time. On the other hand, the flat segment indicated by the red arrow also seems unusual and might possibly be a sign that the server was down during that time period. Anomalies in a big dataset may follow very complicated patterns, which are difficult to detect "by eye" in the great majority of cases. This is the reason why the field of anomaly detection is well suited for the application of machine learning techniques. The most common techniques employed for anomaly detection are based on the construction of a profile of what is "normal": anomalies are reported as those instances in the dataset that do not conform to the normal profile. Isolation Forest uses a different approach: instead of trying to build a model of normal instances, it explicitly isolates anomalous points in the dataset. The main advantage of this approach is the possibility of exploiting sampling techniques to an extent that is not allowed to the profile-based methods, creating a very fast algorithm with a low memory demand. == History == The Isolation Forest (iForest) algorithm was initially proposed by Fei Tony Liu, Kai Ming Ting and Zhi-Hua Zhou in 2008. The authors took advantage of two quantitative properties of anomalous data points in a sample, that is: they are the minority consisting of fewer instances and they have attribute-values that are very different from those of normal instances Since anomalies are typically few and very different from the other points in the sample, they must be easier to "isolate" compared to normal points. On the basis of this principle, Isolation Forest builds an ensemble of "Isolation Trees" (iTrees) for the data set and marks as anomalies the points that have short average path lengths on the iTrees. In a later paper, published in 2012 the same authors described a set of experiments to prove that iForest: has a low linear time complexity and a small memory requirement is able to deal with high dimensional data with irrelevant attributes can be trained with or without anomalies in the training set can provide detection results with different levels of granularity without re-training In 2013 Zhiguo Ding and Minrui Fei proposed a framework based on iForest to resolve the problem of detecting anomalies in streaming data. More application of iForest to streaming data are described in papers by Swee Chuan Tan et al., G. A. Susto et al. and Yu Weng et al. One of the main problems of the application of iForest to anomaly detection was not with the model itself, but rather in the way the "anomaly score" was computed. This problem was highlighted by Sahand Hariri, Matias Carrasco Kind and Robert J. Brunner in a 2018 paper, wherein they proposed an improved iForest model named Extended Isolation Forest (EIF). In the same paper the authors describe the improvements made to the original model and how they are able to enhance the consistency and reliability of the anomaly score produced for a given data point. == Algorithm == At the basis of the Isolation Forest algorithm there is the tendency of anomalous instances in a dataset to be easier to separate from the rest of the sample (isolate), compared to normal points. In order to isolate a data point the algorithm recursively generates partitions on the sample by randomly selecting an attribute and then randomly selecting a split value for the attribute, between the minimum and maximum values allowed for that attribute. An example of random partitioning in a 2D dataset of normally distributed points is given in Fig. 2 for a non-anomalous point and Fig. 3 for a point that's more likely to be an anomaly. It is apparent from the pictures how anomalies require fewer random partitions to be isolated, compared to normal points. From a mathematical point of view, recursive partitioning can be represented by a tree structure named Isolation Tree, while the number of partitions required to isolate a point can be interpreted as the length of the path, within the tree, to reach a terminating node starting from the root. For example, the path length of point xi in Fig. 2 is greater than the path length of xj in Fig. 3. More formally, let X = { x1, ..., xn } be a set of d-dimensional points and X' ⊂ X a subset of X. An Isolation Tree (iTree) is defined as a data structure with the following properties: for each node T in the Tree, T is either an external-node with no child, or an internal-node with one "test" and exactly two daughter nodes (Tl, Tr) a test at node T consists of an attribute q and a split value p such that the test q < p determines the traversal of a data point to either Tl or Tr. In order to build an iTree, the algorithm recursively divides X' by randomly selecting an attribute q and a split value p, until either (i) the node has only one instance or (ii) all data at the node have the same values. When the iTree is fully grown, each point in X is isolated at one of the external nodes. Intuitively, the anomalous points are those (easier to isolate, hence) with the smaller path length in the tree, where the path length h(xi) of point x i ∈ X {\displaystyle x_{i}\in X} is defined as the number of edges xi traverses from the root node to get to an external node. A probabilistic explanation of iTree is provided in the iForest original paper. == Properties of Isolation Forest == Sub-sampling: since iForest does not need to isolate all of normal instances, it can frequently ignore the big majority of the training sample. As a consequence, iForest works very well when the sampling size is kept small, a property that is in contrast with the great majority of existing methods, where large sampling size is usually desirable. Swamping: when normal instances are too close to anomalies, the number of partitions required to separate anomalies increases, a phenomena known as swamping, which makes it more difficult for iForest to discriminate between anomalies and normal points. One of the main reasons for swamping is the presence of too many data for the purpose of anomaly detection, which implies one possible solution to the problem is sub-sampling. Since iForest respond very well to sub-sampling in terms of performance, the reduction of the number of points in the sample is also a good way to reduce the effect of swamping. Masking: when the number of anomalies is high it is possible that some of those aggregate in a dense and large cluster, making it more difficult to separate the single anomalies and, in turn, to detect such points as anomalous. Similarly to swamping, this phenomena (known as "masking") is also more likely when the number of points in the sample is big, and can be alleviated through sub-sampling. High Dimensional Data: one of the main limitation to standard, distance-based methods is their inefficiency in dealing with high dimensional datasets:. The main reason for that is, in a high dimensional space every point is equally sparse, so using a distance-based measure of separation is pretty ineffective. Unfortunately, high-dimensional data also affects the detection performance of iForest, but the performance can be vastly improved by adding a features selection test like Kurtosis to reduce the dimensionality of the sample space. Normal Instances Only: iForest performs well even if the training set does not contain any anomalous point, the reason being that iForest describes data distributions in such a way that high values of the path length h(xi) correspond to the presence of data points. As a consequence, the presence of anomalies is pretty irrelevant to iForest's detection performance. == Anomaly Detection with Isolation Forest == Anomaly detection with Isolation Forest is a process composed of two main stages: in the first stage, a training dataset is used to build iTrees as described in previous sections. in the second stage, each instance in test set is passed through the iTrees build in the previous stage, and a proper "anomaly score" is assigned to the instance using the algorithm described below Once all the instances in the test set have been assigned an anomaly score, it is possible to mark as "anomaly" any point whose score is greater than a predefined threshold, which depends on the domain the analysis is being applied to. === Anomaly Score === Th
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DeepL is a German AI research company known for its language AI platform, which includes DeepL Translator and DeepL Voice, and for DeepL Agent, an AI agent capable of planning workflows and using office systems and tools autonomously, in response to natural language instructions. Its algorithm uses the transformer architecture. It offers a paid subscription for additional features and access to its translation application programming interface. DeepL was founded in 2017 by Jaroslaw Kutylowski and is a unicorn, valued at $2 billion after a Series C funding round raised $300 million in May 2024. Its more than 200,000 business customers include a large proportion of the Fortune 500. == History == The translating system was first developed within Linguee by a team led by Chief Technology Officer Jarosław Kutyłowski in 2016. It was launched as DeepL Translator on 28 August 2017 and offered translations between English, German, French, Spanish, Italian, Polish and Dutch. At its launch, it claimed to have surpassed its competitors in blind tests and BLEU scores, including Google Translate, Amazon Translate, Microsoft Translator and Facebook's translation feature. With the release of DeepL in 2017, Linguee's company name was changed to DeepL GmbH, and it is also financed by advertising on its sister site, linguee.com. Support for Portuguese and Russian was added on 5 December 2018. In July 2019, Jarosław Kutyłowski became the CEO of DeepL GmbH and restructured the company into a Societas Europaea in 2021. Translation software for Microsoft Windows and macOS was released in September 2019. Support for Chinese (simplified) and Japanese was added on 19 March 2020, which the company claimed to have surpassed the aforementioned competitors as well as Baidu and Youdao. Then, 13 more European languages were added in March 2021: Bulgarian, Czech, Danish, Estonian, Finnish, Greek, Hungarian, Latvian, Lithuanian, Romanian, Slovak, Slovenian, and Swedish, bringing the total number of supported languages to 24. On 25 May 2022, support for Indonesian and Turkish was added, and support for Ukrainian was added on 14 September 2022. In January 2023, the company reached a valuation of 1 billion euro and became the most valued startup company in Cologne. At the end of the month, support for Korean and Norwegian (Bokmål) was also added. In May 2024, the company announced an investment of US$300 million at AI. In January 2026, more languages were supported, including Luxembourgish and Irish. == Services == === Translation method === The service uses a proprietary algorithm with convolutional neural networks (CNNs) that have been trained with the Linguee database. According to the developers, the service uses a newer improved architecture of neural networks, resulting in a more natural sound of translations than by competing services. The translation is generated using a supercomputer that reaches 5.1 petaflops and is operated in Iceland with hydropower. DeepL's data centers are located at the EcoDataCenter in Falun, Sweden, which is a data center for sustainability. In general, CNNs are slightly more suitable for long coherent word sequences, but they have so far not been used by the competition because of their weaknesses compared to recurrent neural networks. The weaknesses of DeepL are compensated for by supplemental techniques, some of which are publicly known. === Translator and subscription === The translator can be used for free with a maximum limit of 1,500 characters per translation. Microsoft Word and PowerPoint files in Office Open XML file formats (.docx and .pptx) and PDF files up to 5MB in size can also be translated. It offers paid subscription DeepL Pro, which has been available since March 2018 and includes application programming interface access and a software plug-in for computer-assisted translation tools, including SDL Trados Studio. Unlike the free version, translated texts are stated to not be saved on the server; also, the character limit is removed. The monthly pricing model includes a set amount of text, with texts beyond that being calculated according to the number of characters. ==== Supported languages ==== As of May 2026, the translation service supports the following languages: Additionally, these languages are currently in beta, indicated by an asterisk after their name in the language picker: === DeepL Write === In November 2022, DeepL launched a tool to improve monolingual texts in English and German, called DeepL Write. In December, the company removed access and informed journalists that it was only for internal use and that DeepL Write would be relaunched in early 2023. The public beta version was then released on January 17, 2023. In the summer of 2024, DeepL announced the availability of two more languages in DeepL Write: French and Spanish. By January 2024, DeepL had added an additional two: Portuguese (European and Brazilian) and Italian. === DeepL Agent === In November 2025, DeepL launched an AI agent called DeepL Agent which is capable of operating business applications in a human-like manner. == Reception == The reception of DeepL has been generally positive. TechCrunch appreciates it for the accuracy of its translations and stating that it was more accurate and nuanced than Google Translate. Le Monde thanks its developers for translating French text into more "French-sounding" expressions. RTL Z stated that DeepL Translator "offers better translations […] when it comes to Dutch to English and vice versa". La Repubblica, and a Latin American website, "WWWhat's new?", showed praise as well. A 2018 paper by the University of Bologna evaluated the Italian-to-German translation capabilities and found the preliminary results to be similar in quality to Google Translate. In September 2021, Slator remarked that the language industry response was more measured than the press and noted that DeepL is still highly regarded by users. A reviewer noted in 2018 that DeepL had far fewer languages available for translation than competing products. == Awards and honors == DeepL won the 2020 Webby Award for Best Practices and the 2020 Webby Award for Technical Achievement (Apps, Mobile, and Features), both in the category Apps, Mobile & Voice. In April 2025, DeepL was featured in the Forbes AI 50 list.
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In financial econometrics (the application of statistical methods to economic data), the Markov-switching multifractal (MSM) is a model of asset returns developed by Laurent E. Calvet and Adlai J. Fisher that incorporates stochastic volatility components of heterogeneous durations. MSM captures the outliers, log-memory-like volatility persistence and power variation of financial returns. In currency and equity series, MSM compares favorably with standard volatility models such as GARCH(1,1) and FIGARCH both in- and out-of-sample. MSM is used by practitioners in the financial industry for different types of forecasts. == MSM specification == The MSM model can be specified in both discrete time and continuous time. === Discrete time === Let P t {\displaystyle P_{t}} denote the price of a financial asset, and let r t = ln ( P t / P t − 1 ) {\displaystyle r_{t}=\ln(P_{t}/P_{t-1})} denote the return over two consecutive periods. In MSM, returns are specified as r t = μ + σ ¯ ( M 1 , t M 2 , t . . . M k ¯ , t ) 1 / 2 ϵ t , {\displaystyle r_{t}=\mu +{\bar {\sigma }}(M_{1,t}M_{2,t}...M_{{\bar {k}},t})^{1/2}\epsilon _{t},} where μ {\displaystyle \mu } and σ {\displaystyle \sigma } are constants and { ϵ t {\displaystyle \epsilon _{t}} } are independent standard Gaussians. Volatility is driven by the first-order latent Markov state vector: M t = ( M 1 , t M 2 , t … M k ¯ , t ) ∈ R + k ¯ . {\displaystyle M_{t}=(M_{1,t}M_{2,t}\dots M_{{\bar {k}},t})\in R_{+}^{\bar {k}}.} Given the volatility state M t {\displaystyle M_{t}} , the next-period multiplier M k , t + 1 {\displaystyle M_{k,t+1}} is drawn from a fixed distribution M with probability γ k {\displaystyle \gamma _{k}} , and is otherwise left unchanged. The transition probabilities are specified by γ k = 1 − ( 1 − γ 1 ) ( b k − 1 ) {\displaystyle \gamma _{k}=1-(1-\gamma _{1})^{(b^{k-1})}} . The sequence γ k {\displaystyle \gamma _{k}} is approximately geometric γ k ≈ γ 1 b k − 1 {\displaystyle \gamma _{k}\approx \gamma _{1}b^{k-1}} at low frequency. The marginal distribution M has a unit mean, has a positive support, and is independent of k. ==== Binomial MSM ==== In empirical applications, the distribution M is often a discrete distribution that can take the values m 0 {\displaystyle m_{0}} or 2 − m 0 {\displaystyle 2-m_{0}} with equal probability. The return process r t {\displaystyle r_{t}} is then specified by the parameters θ = ( m 0 , μ , σ ¯ , b , γ 1 ) {\displaystyle \theta =(m_{0},\mu ,{\bar {\sigma }},b,\gamma _{1})} . Note that the number of parameters is the same for all k ¯ > 1 {\displaystyle {\bar {k}}>1} . === Continuous time === MSM is similarly defined in continuous time. The price process follows the diffusion: d P t P t = μ d t + σ ( M t ) d W t , {\displaystyle {\frac {dP_{t}}{P_{t}}}=\mu dt+\sigma (M_{t})\,dW_{t},} where σ ( M t ) = σ ¯ ( M 1 , t … M k ¯ , t ) 1 / 2 {\displaystyle \sigma (M_{t})={\bar {\sigma }}(M_{1,t}\dots M_{{\bar {k}},t})^{1/2}} , W t {\displaystyle W_{t}} is a standard Brownian motion, and μ {\displaystyle \mu } and σ ¯ {\displaystyle {\bar {\sigma }}} are constants. Each component follows the dynamics: The intensities vary geometrically with k: γ k = γ 1 b k − 1 . {\displaystyle \gamma _{k}=\gamma _{1}b^{k-1}.} When the number of components k ¯ {\displaystyle {\bar {k}}} goes to infinity, continuous-time MSM converges to a multifractal diffusion, whose sample paths take a continuum of local Hölder exponents on any finite time interval. == Inference and closed-form likelihood == When M {\displaystyle M} has a discrete distribution, the Markov state vector M t {\displaystyle M_{t}} takes finitely many values m 1 , . . . , m d ∈ R + k ¯ {\displaystyle m^{1},...,m^{d}\in R_{+}^{\bar {k}}} . For instance, there are d = 2 k ¯ {\displaystyle d=2^{\bar {k}}} possible states in binomial MSM. The Markov dynamics are characterized by the transition matrix A = ( a i , j ) 1 ≤ i , j ≤ d {\displaystyle A=(a_{i,j})_{1\leq i,j\leq d}} with components a i , j = P ( M t + 1 = m j | M t = m i ) {\displaystyle a_{i,j}=P\left(M_{t+1}=m^{j}|M_{t}=m^{i}\right)} . Conditional on the volatility state, the return r t {\displaystyle r_{t}} has Gaussian density f ( r t | M t = m i ) = 1 2 π σ 2 ( m i ) exp [ − ( r t − μ ) 2 2 σ 2 ( m i ) ] . {\displaystyle f(r_{t}|M_{t}=m^{i})={\frac {1}{\sqrt {2\pi \sigma ^{2}(m^{i})}}}\exp \left[-{\frac {(r_{t}-\mu )^{2}}{2\sigma ^{2}(m^{i})}}\right].} === Conditional distribution === === Closed-form Likelihood === The log likelihood function has the following analytical expression: ln L ( r 1 , … , r T ; θ ) = ∑ t = 1 T ln [ ω ( r t ) . ( Π t − 1 A ) ] . {\displaystyle \ln L(r_{1},\dots ,r_{T};\theta )=\sum _{t=1}^{T}\ln[\omega (r_{t}).(\Pi _{t-1}A)].} Maximum likelihood provides reasonably precise estimates in finite samples. === Other estimation methods === When M {\displaystyle M} has a continuous distribution, estimation can proceed by simulated method of moments, or simulated likelihood via a particle filter. == Forecasting == Given r 1 , … , r t {\displaystyle r_{1},\dots ,r_{t}} , the conditional distribution of the latent state vector at date t + n {\displaystyle t+n} is given by: Π ^ t , n = Π t A n . {\displaystyle {\hat {\Pi }}_{t,n}=\Pi _{t}A^{n}.\,} MSM often provides better volatility forecasts than some of the best traditional models both in and out of sample. Calvet and Fisher report considerable gains in exchange rate volatility forecasts at horizons of 10 to 50 days as compared with GARCH(1,1), Markov-Switching GARCH, and Fractionally Integrated GARCH. Lux obtains similar results using linear predictions. == Applications == === Multiple assets and value-at-risk === Extensions of MSM to multiple assets provide reliable estimates of the value-at-risk in a portfolio of securities. === Asset pricing === In financial economics, MSM has been used to analyze the pricing implications of multifrequency risk. The models have had some success in explaining the excess volatility of stock returns compared to fundamentals and the negative skewness of equity returns. They have also been used to generate multifractal jump-diffusions. == Related approaches == MSM is a stochastic volatility model with arbitrarily many frequencies. MSM builds on the convenience of regime-switching models, which were advanced in economics and finance by James D. Hamilton. MSM is closely related to the Multifractal Model of Asset Returns. MSM improves on the MMAR's combinatorial construction by randomizing arrival times, guaranteeing a strictly stationary process. MSM provides a pure regime-switching formulation of multifractal measures, which were pioneered by Benoit Mandelbrot.
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A software bot is a type of software agent in the service of software project management and software engineering. A software bot has an identity and potentially personified aspects in order to serve their stakeholders. Software bots often compose software services and provide an alternative user interface, which is sometimes, but not necessarily conversational. Software bots are typically used to execute tasks, suggest actions, engage in dialogue, and promote social and cultural aspects of a software project. The term bot is derived from robot. However, robots act in the physical world and software bots act only in digital spaces. Some software bots are designed and behave as chatbots, but not all chatbots are software bots. Discussions about the past and future of software bots show that software bots have been adopted for many years. == Usage == Software bots are used to support development activities, such as communication among software developers and automation of repetitive tasks. Software bots have been adopted by several communities related to software development, such as open-source communities on GitHub and Stack Overflow. GitHub bots have user accounts and can open, close, or comment on pull requests and issues. GitHub bots have been used to assign reviewers, ask contributors to sign the Contributor License Agreement, report continuous integration failures, review code and pull requests, welcome newcomers, run automated tests, merge pull requests, fix bugs and vulnerabilities, etc. The Slack tool includes an API for developing software bots. There are slack bots for keeping track of todo lists, coordinating standup meetings, and managing support tickets. The ChatBot company products further simplify the process of creating a custom Slack bot. On Wikipedia, Wikipedia bots automate a variety of tasks, such as creating stub articles, consistently updating the format of multiple articles, and so on. Bots like ClueBot NG are capable of recognizing vandalism and automatically remove disruptive content. == Taxonomies and Classification Frameworks == Lebeuf et al. provide a faceted taxonomy to characterize bots based on a literature review. It is composed of 3 main facets: (i) properties of the environment that the bot was created in; (ii) intrinsic properties of the bot itself; and (iii) the bot's interactions within its environment. They further detail the facets into sets of sub-facets under each of the main facets. Paikari and van der Hoek defined a set of dimensions to enable comparison of software bots, applied specifically to chatbots. It resulted in six dimensions: Type: the main purpose of the bot (information, collaboration, or automation) Direction of the "conversation" (input, output, or bi-directional) Guidance (human-mediated, or autonomous) Predictability (deterministic, or evolving) Interaction style (dull, alternate vocabulary, relationship-builder, human-like) Communication channel (text, voice, or both) Erlenhov et al. raised the question of the difference between a bot and simple automation, since much research done in the name of software bots uses the term bot to describe various different tools and sometimes things are "just" plain old development tools. After interviewing and surveying over 100 developers the authors found that not one, but three definitions dominated the community. They created three personas based on these definitions and the difference between what the three personas see as being a bot is mainly the association with a different set of human-like traits. The chat bot persona (Charlie) primarily thinks of bots as tools that communicates with the developer through a natural language interface (typically voice or chat), and caring little about what tasks the bot is used for or how it actually implements these tasks. The autonomous bot persona (Alex) thinks of bots as tools that work on their own (without requiring much input from a developer) on a task that would normally be done by a human. The smart bot persona (Sam) separates bots and plain old development tools through how smart (technically sophisticated) a tool is. Sam cares less about how the tool communicates, but more about if it is unusually good or adaptive at executing a task. The authors recommends that people doing research or writing about bots try to put their work in the context of one of the personas since the personas have different expectations and problems with the tools. == Example of notable bots == Dependabot and Renovatebot update software dependencies and detect vulnerabilities. (https://dependabot.com/) Probot is an organization that create and maintain bots for GitHub. The example bots using Probot are the following. Auto Assign (https://probot.github.io/apps/auto-assign/) license bot (https://probot.github.io/) Sentiment bot (https://probot.github.io/apps/sentiment-bot/) Untrivializer bot (https://probot.github.io/apps/untrivializer/) Refactoring-Bot (Refactoring-Bot): provides refactoring based on static code analysis Looks good to me bot (LGTM) is a Semmle product that inspects pull requests on GitHub for code style and unsafe code practices. == Issues and threats == Software bots may not be well accepted by humans. A study from the University of Antwerp has compared how developers active on Stack Overflow perceive answers generated by software bots. They find that developers perceive the quality of software bot-generated answers to be significantly worse if the identity of the software bot is made apparent. By contrast, answers from software bots with human-like identity were better received. In practice, when software bots are used on platforms like GitHub or Wikipedia, their username makes it clear that they are bots, e.g., DependaBot, RenovateBot, DatBot, SineBot. Bots may be subject to special rules. For instance, the GitHub terms of service does not allow 'bots' but accepts 'machine account', where a 'machine account' has two properties: 1) a human takes full responsibility of the bot's actions 2) it cannot create other accounts.
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