With the increasing availability of aerial and satellite imagery, deep learning presents significant potential for transportation asset management, safety analysis, and urban planning. This study introduces CrosswalkNet, a robust and efficient deep learning framework designed to detect various types of pedestrian crosswalks from 15-cm resolution aerial images. CrosswalkNet incorporates a novel detection approach that improves upon traditional object detection strategies by utilizing oriented bounding boxes (OBB), enhancing detection precision by accurately capturing crosswalks regardless of their orientation. Several optimization techniques, including Convolutional Block Attention, a dual-branch Spatial Pyramid Pooling-Fast module, and cosine annealing, are implemented to maximize performance and efficiency. A comprehensive dataset comprising over 23,000 annotated crosswalk instances is utilized to train and validate the proposed framework. The best-performing model achieves an impressive precision of 96.5% and a recall of 93.3% on aerial imagery from Massachusetts, demonstrating its accuracy and effectiveness. CrosswalkNet has also been successfully applied to datasets from New Hampshire, Virginia, and Maine without transfer learning or fine-tuning, showcasing its robustness and strong generalization capability. Additionally, the crosswalk detection results, processed using High-Performance Computing (HPC) platforms and provided in polygon shapefile format, have been shown to accelerate data processing and detection, supporting real-time analysis for safety and mobility applications. This integration offers policymakers, transportation engineers, and urban planners an effective instrument to enhance pedestrian safety and improve urban mobility.
Recently, there has been an impetus for the application of cutting-edge data collection platforms such as drones mounted with camera sensors for infrastructure asset management. However, the sensor characteristics, proximity to the structure, hard-to-reach access, and environmental conditions often limit the resolution of the datasets. A few studies used super-resolution techniques to address the problem of low-resolution images. Nevertheless, these techniques were observed to increase computational cost and false alarms of distress detection due to the consideration of all the infrastructure images i.e., positive and negative distress classes. In order to address the pre-processing of false alarm and achieve efficient super-resolution, this study developed a framework consisting of convolutional neural network (CNN) and efficient sub-pixel convolutional neural network (ESPCNN). CNN accurately classified both the classes. ESPCNN, which is the lightweight super-resolution technique, generated high-resolution infrastructure image of positive distress obtained from CNN. The ESPCNN outperformed bicubic interpolation in all the evaluation metrics for super-resolution. Based on the performance metrics, the combination of CNN and ESPCNN was observed to be effective in preprocessing the infrastructure images with negative distress, reducing the computational cost and false alarms in the next step of super-resolution. The visual inspection showed that EPSCNN is able to capture crack propagation, complex geometry of even minor cracks. The proposed framework is expected to help the highway agencies in accurately performing distress detection and assist in efficient asset management practices.
Climate-related phenomena are increasingly affecting regions worldwide, manifesting as floods, water scarcity, and heat waves, which can significantly impair companies' assets and productivity. We develop a framework, based on the Vasicek model for credit risk, that introduces downward jumps due to climate phenomena in a company asset's dynamics. These negative shocks are designed to mirror the negative effect of extreme climate events. We explore various possibilities for the distribution of jumps and provide a comprehensive characterization of the model and its calibration process that relies on companies' asset intensity and geographical exposure. We utilize this new multivariate firm value model framework with jumps to understand the influence of climate related extreme events on different portfolios' expected and unexpected losses. The results suggest introducing additional safe capital to offset the losses resulting from physical climate risks, particularly for high asset intensity sectors.
Quantitative investment (quant) is an emerging, technology-driven approach in asset management, increasingy shaped by advancements in artificial intelligence. Recent advances in deep learning and large language models (LLMs) for quant finance have improved predictive modeling and enabled agent-based automation, suggesting a potential paradigm shift in this field. In this survey, taking alpha strategy as a representative example, we explore how AI contributes to the quantitative investment pipeline. We first examine the early stage of quant research, centered on human-crafted features and traditional statistical models with an established alpha pipeline. We then discuss the rise of deep learning, which enabled scalable modeling across the entire pipeline from data processing to order execution. Building on this, we highlight the emerging role of LLMs in extending AI beyond prediction, empowering autonomous agents to process unstructured data, generate alphas, and support self-iterative workflows.
Traditional microgrid planning often overlooks PV and BESS degradation or relies on complex, downscaled models, leading to unreliable, costly and suboptimal investment decisions. This paper presents a degradation-based investment optimization (DBIO) methodology for long-term microgrid planning. The model optimally sizes and schedules PV, BESS, and controllable distributed energy resources, while considering technical, financial, and degradation characteristics. We first developed a cumulative multi-year optimization model as a benchmark, excluding BESS efficiency fade and capacity degradation that would be captured in the next step, to ensure convergence. Subsequently, a yearly validation model was iteratively solved for each year in the planning horizon, updating energy efficiencies of PV and BESS, along with BESS capacity, based on annual degradation, ensuring the reliability of initial solution. An iterative refinement process further adjusts BESS capacity to eliminate load shedding while minimizing costs. Sensitivity analyses on PV efficiency degradation rates, second-life battery (SLB) capital cost, and grid tariffs further explore their economic implications. Results show that degradation significantly impacts resource allocation, with ignored degradation risking reliability, potential load shedding, and blackout costs, while SLBs provide cost-saving opportunities. The DBIO framework offers a computationally efficient and scalable solution for microgrid planning, with broader applications in grid-scale asset management.
This review systematically examines deep learning applications in financial asset management. Unlike prior reviews, this study focuses on identifying emerging trends, such as the integration of explainable artificial intelligence (XAI) and deep reinforcement learning (DRL), and their transformative potential. It highlights new developments, including hybrid models (e.g., transformer-based architectures) and the growing use of alternative data sources such as ESG indicators and sentiment analysis. These advancements challenge traditional financial paradigms and set the stage for a deeper understanding of the evolving landscape. We use the Scopus database to select the most relevant articles published from 2018 to 2023. The inclusion criteria encompassed articles that explicitly apply deep learning models within financial asset management. We excluded studies focused on physical assets. This review also outlines our methodology for evaluating the relevance and impact of the included studies, including data sources and analytical methods. Our search identified 934 articles, with 612 meeting the inclusion criteria based on their focus and methodology. The synthesis of results from these articles provides insights into the effectiveness of deep learning models in improving portfolio performance and price forecasting accuracy. The review highlights the broad applicability and potential enhancements deep learning offers to financial asset management. Despite some limitations due to the scope of model application and variation in methodological rigour, the overall evidence supports deep learning as a valuable tool in this field. Our systematic review underscores the progressive integration of deep learning in financial asset management, suggesting a trajectory towards more sophisticated and impactful applications.
This paper introduces EdgeMLOps, a framework leveraging Cumulocity IoT and thin-edge.io for deploying and managing machine learning models on resource-constrained edge devices. We address the challenges of model optimization, deployment, and lifecycle management in edge environments. The framework's efficacy is demonstrated through a visual quality inspection (VQI) use case where images of assets are processed on edge devices, enabling real-time condition updates within an asset management system. Furthermore, we evaluate the performance benefits of different quantization methods, specifically static and dynamic signed-int8, on a Raspberry Pi 4, demonstrating significant inference time reductions compared to FP32 precision. Our results highlight the potential of EdgeMLOps to enable efficient and scalable AI deployments at the edge for industrial applications.
Image to point cloud global localization is crucial for robot navigation in GNSS-denied environments and has become increasingly important for multi-robot map fusion and urban asset management. The modality gap between images and point clouds poses significant challenges for cross-modality fusion. Current cross-modality global localization solutions either require modality unification, which leads to information loss, or rely on engineered training schemes to encode multi-modality features, which often lack feature alignment and relation consistency. To address these limitations, we propose, SaliencyI2PLoc, a novel contrastive learning based architecture that fuses the saliency map into feature aggregation and maintains the feature relation consistency on multi-manifold spaces. To alleviate the pre-process of data mining, the contrastive learning framework is applied which efficiently achieves cross-modality feature mapping. The context saliency-guided local feature aggregation module is designed, which fully leverages the contribution of the stationary information in the scene generating a more representative global feature. Furthermore, to enhance the cross-modality feature alignment during contrastive learning, the consistency of relative relationships between samples in different manifold spaces is also taken into account. Experiments conducted on urban and highway scenario datasets demonstrate the effectiveness and robustness of our method. Specifically, our method achieves a Recall@1 of 78.92% and a Recall@20 of 97.59% on the urban scenario evaluation dataset, showing an improvement of 37.35% and 18.07%, compared to the baseline method. This demonstrates that our architecture efficiently fuses images and point clouds and represents a significant step forward in cross-modality global localization. The project page and code will be released.
Buildings are primary components of cities, often featuring repeated elements such as windows and doors. Traditional 3D building asset creation is labor-intensive and requires specialized skills to develop design rules. Recent generative models for building creation often overlook these patterns, leading to low visual fidelity and limited scalability. Drawing inspiration from procedural modeling techniques used in the gaming and visual effects industry, our method, Proc-GS, integrates procedural code into the 3D Gaussian Splatting (3D-GS) framework, leveraging their advantages in high-fidelity rendering and efficient asset management from both worlds. By manipulating procedural code, we can streamline this process and generate an infinite variety of buildings. This integration significantly reduces model size by utilizing shared foundational assets, enabling scalable generation with precise control over building assembly. We showcase the potential for expansive cityscape generation while maintaining high rendering fidelity and precise control on both real and synthetic cases.
Accurate mapping of the built asset information to established data classification systems and taxonomies is crucial for effective asset management, whether for compliance at project handover or ad-hoc data integration scenarios. Due to the complex nature of built asset data, which predominantly comprises technical text elements, this process remains largely manual and reliant on domain expert input. Recent breakthroughs in contextual text representation learning (text embedding), particularly through pre-trained large language models, offer promising approaches that can facilitate the automation of cross-mapping of the built asset data. However, no comprehensive evaluation has yet been conducted to assess these models' ability to effectively represent the complex semantics specific to built asset technical terminology. This study presents a comparative benchmark of state-of-the-art text embedding models to evaluate their effectiveness in aligning built asset information with domain-specific technical concepts. Our proposed datasets are derived from two renowned built asset data classification dictionaries. The results of our benchmarking across six proposed datasets, covering three tasks of clustering, retrieval, and reranking, highlight the need for future research on domain adaptation techniques. The benchmarking resources are published as an open-source library, which will be maintained and extended to support future evaluations in this field.
This paper explores the development and practical application of a predictive digital twin specifically designed for condition monitoring, using advanced mathematical models and thermal imaging techniques. Our work presents a comprehensive approach to integrating Proper Orthogonal Decomposition (POD), Robust Principal Component Analysis (RPCA), and Dynamic Mode Decomposition (DMD) to establish a robust predictive digital twin framework. We employ these methods in a real-time experimental setup involving a heated plate monitored through thermal imaging. This system effectively demonstrates the digital twin's capabilities in real-time predictions, condition monitoring, and anomaly detection. Additionally, we introduce the use of a human-machine interface that includes virtual reality, enhancing user interaction and system understanding. The primary contributions of our research lie in the demonstration of these advanced techniques in a tangible setup, showcasing the potential of digital twins to transform industry practices by enabling more proactive and strategic asset management.
Automated Market Makers (AMMs) hold assets and are constantly being rebalanced by external arbitrageurs to match external market prices. Loss-versus-rebalancing (LVR) is a pivotal metric for measuring how an AMM pool performs for its liquidity providers (LPs) relative to an idealised benchmark where rebalancing is done not via the action of arbitrageurs but instead by trading with a perfect centralised exchange with no fees, spread or slippage. This renders it an imperfect tool for judging rebalancing efficiency between execution platforms. We introduce Rebalancing-versus-rebalancing (RVR), a higher-fidelity model that better captures the frictions present in centralised rebalancing. We perform a battery of experiments comparing managing a portfolio on AMMs vs this new and more realistic centralised exchange benchmark-RVR. We are also particularly interested in dynamic AMMs that run strategies beyond fixed weight allocations-Temporal Function Market Makers. This is particularly important for asset managers evaluating execution management systems. In this paper we simulate more than 1000 different strategies settings as well as testing hundreds of different variations in centralised exchange (CEX) fees, AMM fees & gas costs. We find that, under this modeling approach, AMM pools (even with no retail/noise traders) often offer superior execution and rebalancing efficiency compared to centralised rebalancing, for all but the lowest CEX fee levels. We also take a simple approach to model noise traders & find that even a small amount of noise volume increases modeled AMM performance such that CEX rebalancing finds it hard to compete. This indicates that decentralised AMM-based asset management can offer superior performance and execution management for asset managers looking to rebalance portfolios, offering an alternative use case for dynamic AMMs beyond core liquidity providing.
In this paper, we introduce FAMMA, an open-source benchmark for \underline{f}in\underline{a}ncial \underline{m}ultilingual \underline{m}ultimodal question \underline{a}nswering (QA). Our benchmark aims to evaluate the abilities of large language models (LLMs) in answering complex reasoning questions that require advanced financial knowledge. The benchmark has two versions: FAMMA-Basic consists of 1,945 questions extracted from university textbooks and exams, along with human-annotated answers and rationales; FAMMA-LivePro consists of 103 novel questions created by human domain experts, with answers and rationales held out from the public for a contamination-free evaluation. These questions cover advanced knowledge of 8 major subfields in finance (e.g., corporate finance, derivatives, and portfolio management). Some are in Chinese or French, while a majority of them are in English. Each question has some non-text data such as charts, diagrams, or tables. Our experiments reveal that FAMMA poses a significant challenge on LLMs, including reasoning models such as GPT-o1 and DeepSeek-R1. Additionally, we curated 1,270 reasoning trajectories of DeepSeek-R1 on the FAMMA-Basic data, and fine-tuned a series of open-source Qwen models using this reasoning data. We found that training a model on these reasoning trajectories can significantly improve its performance on FAMMA-LivePro. We released our leaderboard, data, code, and trained models at https://famma-bench.github.io/famma/.
This paper presents a Multimodal Ambient Context-enriched Intelligence Platform (MACeIP) for Smart Cities, a comprehensive system designed to enhance urban management and citizen engagement. Our platform integrates advanced technologies, including Internet of Things (IoT) sensors, edge and cloud computing, and Multimodal AI, to create a responsive and intelligent urban ecosystem. Key components include Interactive Hubs for citizen interaction, an extensive IoT sensor network, intelligent public asset management, a pedestrian monitoring system, a City Planning Portal, and a Cloud Computing System. We demonstrate the prototype of MACeIP in several cities, focusing on Fredericton, New Brunswick. This work contributes to innovative city development by offering a scalable, efficient, and user-centric approach to urban intelligence and management.
Classification models are a key component of structural digital twin technologies used for supporting asset management decision-making. An important consideration when developing classification models is the dimensionality of the input, or feature space, used. If the dimensionality is too high, then the `curse of dimensionality' may rear its ugly head; manifesting as reduced predictive performance. To mitigate such effects, practitioners can employ dimensionality reduction techniques. The current paper formulates a decision-theoretic approach to dimensionality reduction for structural asset management. In this approach, the aim is to keep incurred misclassification costs to a minimum, as the dimensionality is reduced and discriminatory information may be lost. This formulation is constructed as an eigenvalue problem, with separabilities between classes weighted according to the cost of misclassifying them when considered in the context of a decision process. The approach is demonstrated using a synthetic case study.
As a new practical and economical solution to the aging problem of overhead line (OHL) assets, the technical policies of most power grid companies in the world experienced a gradual transition from scheduled preventive maintenance to a risk-based approach in asset management. Even though the accumulation of contamination is predictable within a certain degree, there are currently no effective ways to identify the risk of the insulator flashover in order to plan its replacement. This paper presents a novel machine learning (ML) based method for estimating the flashover probability of the cup-and-pin glass insulator string. The proposed method is based on the Extreme Gradient Boosting (XGBoost) supervised ML model, in which the leakage current (LC) features and applied voltage are used as the inputs. The established model can estimate the critical flashover voltage (U50%) for various designs of OHL insulators with different voltage levels. The proposed method is also able to accurately determine the condition of the insulator strings and instruct asset management engineers to take appropriate actions.
This study introduces a novel approach to Industrial Asset Management (IAM) by incorporating Conditional-Based Management (CBM) principles with the latest advancements in Large Language Models (LLMs). Our research introduces an automated model-building process, traditionally reliant on intensive collaboration between data scientists and domain experts. We present two primary innovations: a taxonomy-guided prompting generation that facilitates the automatic creation of AI solution recipes and a set of LLM pipelines designed to produce a solution recipe containing a set of artifacts composed of documents, sample data, and models for IAM. These pipelines, guided by standardized principles, enable the generation of initial solution templates for heterogeneous asset classes without direct human input, reducing reliance on extensive domain knowledge and enhancing automation. We evaluate our methodology by assessing asset health and sustainability across a spectrum of ten asset classes. Our findings illustrate the potential of LLMs and taxonomy-based LLM prompting pipelines in transforming asset management, offering a blueprint for subsequent research and development initiatives to be integrated into a rapid client solution.
In the world of stochastic control, especially in economics and engineering, Markov Decision Processes (MDPs) can effectively model various stochastic decision processes, from asset management to transportation optimization. These underlying MDPs, upon closer examination, often reveal a specifically constrained causal structure concerning the transition and reward dynamics. By exploiting this structure, we can obtain a reduction in the causal representation of the problem setting, allowing us to solve of the optimal value function more efficiently. This work defines an MDP framework, the \texttt{SD-MDP}, where we disentangle the causal structure of MDPs' transition and reward dynamics, providing distinct partitions on the temporal causal graph. With this stochastic reduction, the \texttt{SD-MDP} reflects a general class of resource allocation problems. This disentanglement further enables us to derive theoretical guarantees on the estimation error of the value function under an optimal policy by allowing independent value estimation from Monte Carlo sampling. Subsequently, by integrating this estimator into well-known Monte Carlo planning algorithms, such as Monte Carlo Tree Search (MCTS), we derive bounds on the simple regret of the algorithm. Finally, we quantify the policy improvement of MCTS under the \texttt{SD-MDP} framework by demonstrating that the MCTS planning algorithm achieves higher expected reward (lower costs) under a constant simulation budget, on a tangible economic example based on maritime refuelling.
Generative 3D Painting is among the top productivity boosters in high-resolution 3D asset management and recycling. Ever since text-to-image models became accessible for inference on consumer hardware, the performance of 3D Painting methods has consistently improved and is currently close to plateauing. At the core of most such models lies denoising diffusion in the latent space, an inherently time-consuming iterative process. Multiple techniques have been developed recently to accelerate generation and reduce sampling iterations by orders of magnitude. Designed for 2D generative imaging, these techniques do not come with recipes for lifting them into 3D. In this paper, we address this shortcoming by proposing a Latent Consistency Model (LCM) adaptation for the task at hand. We analyze the strengths and weaknesses of the proposed model and evaluate it quantitatively and qualitatively. Based on the Objaverse dataset samples study, our 3D painting method attains strong preference in all evaluations. Source code is available at https://github.com/kongdai123/consistency2.
Monitoring asset conditions is a crucial factor in building efficient transportation asset management. Because of substantial advances in image processing, traditional manual classification has been largely replaced by semi-automatic/automatic techniques. As a result, automated asset detection and classification techniques are required. This paper proposes a methodology to detect and classify roadway pavement cracks using the well-known You Only Look Once (YOLO) version five (YOLOv5) and version 8 (YOLOv8) algorithms. Experimental results indicated that the precision of pavement crack detection reaches up to 67.3% under different illumination conditions and image sizes. The findings of this study can assist highway agencies in accurately detecting and classifying asset conditions under different illumination conditions. This will reduce the cost and time that are associated with manual inspection, which can greatly reduce the cost of highway asset maintenance.