The fuzzy pay-off method for real option valuation (FPOM or pay-off method) is a method for valuing real options, developed by Mikael Collan, Robert Fullér, and József Mezei; and published in 2009. It is based on the use of fuzzy logic and fuzzy numbers for the creation of the possible pay-off distribution of a project (real option). The structure of the method is similar to the probability theory based Datar–Mathews method for real option valuation, but the method is not based on probability theory and uses fuzzy numbers and possibility theory in framing the real option valuation problem. == Method == The Fuzzy pay-off method derives the real option value from a pay-off distribution that is created by using three or four cash-flow scenarios (most often created by an expert or a group of experts). The pay-off distribution is created simply by assigning each of the three cash-flow scenarios a corresponding definition with regards to a fuzzy number (triangular fuzzy number for three scenarios and a trapezoidal fuzzy number for four scenarios). This means that the pay-off distribution is created without any simulation whatsoever. This makes the procedure easy and transparent. The scenarios used are a minimum possible scenario (the lowest possible outcome), the maximum possible scenario (the highest possible outcome) and a best estimate (most likely to happen scenario) that is mapped as a fully possible scenario with a full degree of membership in the set of possible outcomes, or in the case of four scenarios used - two best estimate scenarios that are the upper and lower limit of the interval that is assigned a full degree of membership in the set of possible outcomes. The main observations that lie behind the model for deriving the real option value are the following: The fuzzy NPV of a project is (equal to) the pay-off distribution of a project value that is calculated with fuzzy numbers. The mean value of the positive values of the fuzzy NPV is the "possibilistic" mean value of the positive fuzzy NPV values. Real option value, ROV, calculated from the fuzzy NPV is the "possibilistic" mean value of the positive fuzzy NPV values multiplied with the positive area of the fuzzy NPV over the total area of the fuzzy NPV. The real option formula can then be written simply as: R O V = A ( P o s ) A ( P o s ) + A ( N e g ) × E [ A + ] {\displaystyle \mathrm {ROV} ={\frac {A(\mathrm {Pos} )}{A(\mathrm {Pos} )+A(\mathrm {Neg} )}}\times E[A_{+}]} where A(Pos) is the area of the positive part of the fuzzy distribution, A(Neg) is the area of the negative part of the fuzzy distribution, and E[A+] is the mean value of the positive part of the distribution. It can be seen that when the distribution is totally positive, the real options value reduces to the expected (mean) value, E[A+]. As can be seen, the real option value can be derived directly from the fuzzy NPV, without simulation. At the same time, simulation is not an absolutely necessary step in the Datar–Mathews method, so the two methods are not very different in that respect. But what is totally different is that the Datar–Mathews method is based on probability theory and as such has a very different foundation from the pay-off method that is based on possibility theory: the way that the two models treat uncertainty is fundamentally different. == Use of the method == The pay-off method for real option valuation is very easy to use compared to the other real option valuation methods and it can be used with the most commonly used spreadsheet software without any add-ins. The method is useful in analyses for decision making regarding investments that have an uncertain future, and especially so if the underlying data is in the form of cash-flow scenarios. The method is less useful if optimal timing is the objective. The method is flexible and accommodates easily both one-stage investments and multi-stage investments (compound real options). The method has been taken into use in some large international industrial companies for the valuation of research and development projects and portfolios. In these analyses triangular fuzzy numbers are used. Other uses of the method so far are, for example, R&D project valuation IPR valuation, valuation of M&A targets and expected synergies, valuation and optimization of M&A strategies, valuation of area development (construction) projects, valuation of large industrial real investments. The use of the pay-off method is lately taught within the larger framework of real options, for example at the Lappeenranta University of Technology and at the Tampere University of Technology in Finland.
Anti-Grain Geometry
Anti-Grain Geometry (AGG) is a 2D rendering graphics library written in C++. It features anti-aliasing and sub-pixel resolution. It is not a graphics library, per se, but rather a framework to build a graphics library upon. The library is operating system independent and renders to an abstract memory object. It comes with examples interfaced to the X Window System, Microsoft Windows, Mac OS X, AmigaOS, BeOS, SDL. The examples also include an SVG viewer. The design of AGG uses C++ templates only at a very high level, rather than extensively, to achieve the flexibility to plug custom classes into the rendering pipeline, without requiring a rigid class hierarchy, and allows the compiler to inline many of the method calls for high performance. For a library of its complexity, it is remarkably lightweight: it has no dependencies above the standard C++ libraries and it avoids the C++ STL in the implementation of the basic algorithms. The implicit interfaces are not well documented, however, and this can make the learning process quite cumbersome. While AGG version 2.5 is licensed under the GNU General Public License, version 2 or greater, AGG version 2.4 is still available under the 3-clause BSD license and is virtually the same as version 2.5. == History == Active development of the AGG codebase stalled in 2006, around the time of the v2.5 release, due to shifting priorities of its main developer and maintainer Maxim Shemanarev. M. Shemanarev remained active in the community until his sudden death in 2013. Development has continued on a fork of the more liberally licensed v2.4 on SourceForge.net. == Usage == The Haiku operating system uses AGG in its windowing system. It is one of the renderers available for use in GNU's Gnash Flash player. Graphical version of Rebol language interpreter is using AGG for scalable vector graphics DRAW dialect. Hilti uses it in some of their rebar detection tools, like the PS 1000. Matplotlib uses AGG as its canonical renderer for interactive user interfaces. fpGUI Toolkit has an optional AggPas back-end rendering engine. Work is being done to make AggPas the default or sole rendering engine for fpGUI. Mapnik, the toolkit that renders the maps on the OpenStreetMap website, uses AGG for all its bitmap map rendering by default. HTTPhotos uses AGG to scale photos. Pdfium, the PDF rendering engine used by Google Chrome makes use of AGG, although work is progressing to replace this with Skia Graphics Engine. Graphics Mill, the .NET imaging SDK uses AGG as its drawing engine. Image-Line FL Studio, a digital audio workstation, since version 10.8 released on September 30, 2012, uses AGG for drawing. Native Instruments's Supercharger and Supercharger GT compressors use AGG for its user interface. == Author == The main author of the library was Maxim Shemanarev (Russian: Максим Шеманарёв). On November 26, 2013 Shemanarev (born June 15, 1966, Nizhny Novgorod, Russia) was reported dead at the age of 47 at his home in Columbia, Maryland (US). He died suddenly, allegedly from an epileptic seizure that he had suffered for a while. He was a graduate from Nizhny Novgorod State Technical University. Little is known about his personal life. It's known though that he was divorced and his mother was alive at the time of his death. He used to love skiing, snowboarding (in Colorado), and inline skating. He was praised by his friends for his intelligent programming skills.
Figure AI
Figure AI, Inc. is an American robotics company developing humanoid robots that operate via artificial intelligence. The company was founded in 2022 by Brett Adcock. As of late 2025, the company has a $39 billion valuation. Three generations of humanoid robots (Figure 01–03) have been developed, as well as two iterations of a vision-language-action model (Helix 01–02), which can control up to two robots at once. By 2026, the robots demonstrated the potential ability to perform household work and the company gained publicity when a Figure 03 appeared at a White House event. == History == Figure AI was founded in 2022 by Brett Adcock, also known for founding Archer Aviation and Vettery. That year, the company introduced its prototype, Figure 01, a bipedal robot designed for manual labor, initially targeting the logistics and warehousing sectors. The initial model utilized external cabling for easier maintenance. In May 2023, Figure AI raised $70 million from investors including Adcock, who invested $20 million, and Parkway Venture Capital. In January 2024, Figure AI announced a partnership with BMW to deploy humanoid robots in automotive manufacturing facilities. In February 2024, Figure AI secured $675 million in venture capital funding from a consortium that includes Jeff Bezos, Microsoft, Nvidia, Intel, and the startup-funding divisions of Amazon and OpenAI; the company was then valued at $2.6 billion. Figure AI also announced a partnership with OpenAI, which would build specialized artificial intelligence (AI) models for Figure AI's humanoid robots, enabling its robots to process language; the collaboration ended after a year, with Adcock stating that large language models had become a smaller problem compared to those allowing for "high rate robot control". In August 2024, the company introduced Figure 02, describing it as the next step toward deploying humanoids for industrial use. The machine has 35 degrees of freedom (DOF), while the five-fingered hands have 16 DOF and the ability to carry up to 25 kilograms (55 lb). The model is equipped with cabling integrated into the limbs, a torso-placed battery, six RGB cameras, and an onboard vision-language-action (VLA) model. It has three times the computing power (including inference AI) of the previous model, including two graphics processing units, supported by Nvidia. Microphones, speakers, and custom AI models (developed with OpenAI) enable communication with humans. In early 2025, Figure AI announced BotQ, a manufacturing facility aiming to produce 12,000 humanoids per year with the help of its own humanoid robots, and Helix, a VLA model that can control up to two robots at once. Helix enables a robot to interact with the world without extensive manual training, according to the company allowing it to pick up nearly any small household object. By April, the company issued cease-and-desist letters to at least two secondary brokers promoting its private stock without authorization. In September, a third round of financing exceeded $1 billion, raising the company's total valuation to $39 billion. Investors included Brookfield Asset Management, Intel, Macquarie Capital, Nvidia, Parkway Venture Capital, Qualcomm, Salesforce, and T-Mobile. In October 2025, Figure 03 was introduced. According to the company, its hardware and software redesign aims to create a general-purpose robot able to learn directly from humans. An upgraded camera system delivers twice the frame rate, a quarter the latency, and a 60% wider field of view, in addition to a camera in each hand. Tactile sensors in the fingertips can detect forces as little as 3 grams (0.1 oz). It incorporates soft materials and a protected battery for safety, and removable, washable textiles. It supports wireless inductive charging. In November 2025, the former head of product safety sued the company on the basis of being fired for raising the concern that the company's robots were strong enough to fracture a human skull. By early 2026, Figure 02 had been used in demonstrations showing that it could load a washing machine, sort packages, and fold laundry. That January, Helix 02 was released, expanding the AI model to the entire body to allow for functional autonomy. A Helix 02–powered Figure 02 was shown to be capable of loading and unloading a dishwasher, based on hours of motion-capture data and simulation-based machine learning. In March, U.S. First Lady Melania Trump appeared at the White House with a Figure 03, promoting the presumptive eventual ability of AI to teach children. In May 2026, Figure AI livestreamed a group of their robots processing packages nonstop for almost a week, inspiring a 10-hour competition between their robot and a human, in which the robot performed 98.5% as well as the human.
Resel
In image analysis, a resel (from resolution element) represents the actual spatial resolution in an image or a volumetric dataset. The number of resels in the image may be lower or equal to the number of pixel/voxels in the image. In an actual image the resels can vary across the image and indeed the local resolution can be expressed as "resels per pixel" (or "resels per voxel"). In functional neuroimaging analysis, an estimate of the number of resels together with random field theory is used in statistical inference. Keith Worsley has proposed an estimate for the number of resels/roughness. The word "resel" is related to the words "pixel", "texel", and "voxel". Waldo R. Tobler is probably among the first to use the word.
Cooliris (plugin)
Cooliris (for Desktop), formerly known as PicLens, was a web browser extension developed by Cooliris, Inc, and later acquired by Yahoo. The plugin provides an interactive 3D-like experience for viewing digital images and videos from the web and from desktop applications. The software places a small icon atop image thumbnails that appear on a webpage. Clicking on the icon loads the Cooliris 3D Wall, a browsing environment that gives the user the effect of flying through a three-dimensional space. Released to the public in January 2008, The New York Times described Cooliris as the "new immersive approach to Web navigation". Cooliris went out to win the 2008 Crunchies Award for Best Design. The plugin has received over 50 million downloads. As of May 2014 browser plugins are unavailable from the official website. There are only links to tablet apps - for iOS and Android.
MLOps
MLOps or ML Ops is a paradigm that aims to deploy and maintain machine learning models in production reliably and efficiently. It bridges the gap between machine learning development and production operations, ensuring that models are robust, scalable, and aligned with business goals. The word is a compound of "machine learning" and the continuous delivery practice (CI/CD) of DevOps in the software field. Machine learning models are tested and developed in isolated experimental systems. When an algorithm is ready to be launched, MLOps is practiced between data scientists, DevOps, and machine learning engineers to transition the algorithm to production systems. Similar to DevOps or DataOps approaches, MLOps seeks to increase automation and improve the quality of production models, while also focusing on business and regulatory requirements. While MLOps started as a set of best practices, it is slowly evolving into an independent approach to ML lifecycle management. MLOps applies to the entire lifecycle - from integrating with model generation (software development lifecycle, continuous integration/continuous delivery), orchestration, and deployment, to health, diagnostics, governance, and business metrics. == Definition == MLOps is a paradigm, including aspects like best practices, sets of concepts, as well as a development culture when it comes to the end-to-end conceptualization, implementation, monitoring, deployment, and scalability of machine learning products. Most of all, it is an engineering practice that leverages three contributing disciplines: machine learning, software engineering (especially DevOps), and data engineering. MLOps is aimed at productionizing machine learning systems by bridging the gap between development (Dev) and operations (Ops). Essentially, MLOps aims to facilitate the creation of machine learning products by leveraging these principles: CI/CD automation, workflow orchestration, reproducibility; versioning of data, model, and code; collaboration; continuous ML training and evaluation; ML metadata tracking and logging; continuous monitoring; and feedback loops. == History == Interest in operationalizing machine learning systems began to grow in the mid-2010s as ML projects started moving from experimentation to production use. The challenges associated with sustaining such systems were highlighted in a 2015 paper. The predicted growth in machine learning included an estimated doubling of ML pilots and implementations from 2017 to 2018, and again from 2018 to 2020. Reports show a majority (up to 88%) of corporate machine learning initiatives are struggling to move beyond test stages. However, those organizations that actually put machine learning into production saw a 3–15% profit margin increases. The MLOps market size was USD 2,191.8 Million in 2024, and is projected to be USD 16,613.4 Million in 2030. == Architecture == Machine Learning systems can be categorized in eight different categories: data collection, data processing, feature engineering, data labeling, model design, model training and optimization, endpoint deployment, and endpoint monitoring. Each step in the machine learning lifecycle is built in its own system, but requires interconnection. These are the minimum systems that enterprises need to scale machine learning within their organization. == Goals == There are a number of goals enterprises want to achieve through MLOps systems successfully implementing ML across the enterprise, including: Deployment and automation Reproducibility of models and predictions Diagnostics Governance and regulatory compliance Scalability Collaboration Business uses Monitoring and management A standard practice, such as MLOps, takes into account each of the aforementioned areas, which can help enterprises optimize workflows and avoid issues during implementation. Vendors such as Adaptive ML deliver commercial reinforcement learning operations (RLOps) and MLOps-infrastructure, targeting organizations deploying large language models in production. A common architecture of an MLOps system would include data science platforms where models are constructed and the analytical engines where computations are performed, with the MLOps tool orchestrating the movement of machine learning models, data and outcomes between the systems.
Echo Lake (software)
Echo Lake (AKA Family Album Creator) was the most notable multimedia software product produced by Delrina, which debuted in June 1995. It was touted internally as a "cross [of] Quark Xpress and Myst". It featured an immersive 3D environment where a user could go to a virtual desktop in a virtual office and assemble video and audio clips along with images, and then print them out as either a virtual book other users of the program could use, or for print. It was a highly innovative product for its time, and ultimately was hampered by the inability of many users able to input their own multimedia content easily into a computer from that period. Creative Wonders bought the rights to the Echo Lake multimedia product, which was re-shaped as an introductory program on multimedia and re-released as Family Album Creator in 1996.