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Large language models have demonstrated outstanding performance in various natural language processing tasks, but their security capabilities in the financial domain have not been explored, and their performance on complex tasks like financial agent remains unknown. This paper presents FinEval, a benchmark designed to evaluate LLMs&#39; financial domain knowledge and practical abilities. The dataset contains 8,351 questions categorized into four different key areas: Financial Academic Knowledge, Financial Industry Knowledge, Financial Security Knowledge, and Financial Agent. Financial Academic Knowledge comprises 4,661 multiple-choice questions spanning 34 subjects such as finance and economics. Financial Industry Knowledge contains 1,434 questions covering practical scenarios like investment research. Financial Security Knowledge assesses models through 1,640 questions on topics like application security and cryptography. Financial Agent evaluates tool usage and complex reasoning with 616 questions. FinEval has multiple evaluation settings, including zero-shot, five-shot with chain-of-thought, and assesses model performance using objective and subjective criteria. Our results show that Claude 3.5-Sonnet achieves the highest weighted average score of 72.9 across all financial domain categories under zero-shot setting. Our work provides a comprehensive benchmark closely aligned with Chinese financial domain. The data and the code are available at https://github.com/SUFE-AIFLMLab/FinEval.

NAACL 2025

FinEval: A Chinese Financial Domain Knowledge Evaluation Benchmark for Large Language Models

evaluation benchmark

large language model

finance

## Welcome!
"I am excited to welcome you to this year’s edition of the Conference on Empirical Methods in Natural Language Processing! Importantly, it marks the 30th edition of EMNLP. With over 8,000 submissions, more than 3,000 accepted papers, and thousands of attendees, we have come a long way from that first
workshop, which had 14 accepted papers. As the field looks ahead, Suzhou is the fitting location for celebrating this milestone: rooted in a long literary tradition, yet modern and forward-looking, and home to a large share of the NLP community." 

*Message from the General Chair, Dirk Hovy*

EMNLP 2025

Celebrate 30 Years of EMNLP! 
EMNLP 2025 will be held in Suzhou, China from November 5th to November 9th, 2025.

Large language models have demonstrated outstanding performance in various natural language processing tasks, but their security capabilities in the financial domain have not been explored, and their performance on complex tasks like financial agent remains unknown. This paper presents FinEval, a benchmark designed to evaluate LLMs' financial domain knowledge and practical abilities. The dataset contains 8,351 questions categorized into four different key areas: Financial Academic Knowledge, Financial Industry Knowledge, Financial Security Knowledge, and Financial Agent. Financial Academic Knowledge comprises 4,661 multiple-choice questions spanning 34 subjects such as finance and economics. Financial Industry Knowledge contains 1,434 questions covering practical scenarios like investment research. Financial Security Knowledge assesses models through 1,640 questions on topics like application security and cryptography. Financial Agent evaluates tool usage and complex reasoning with 616 questions. FinEval has multiple evaluation settings, including zero-shot, five-shot with chain-of-thought, and assesses model performance using objective and subjective criteria. Our results show that Claude 3.5-Sonnet achieves the highest weighted average score of 72.9 across all financial domain categories under zero-shot setting. Our work provides a comprehensive benchmark closely aligned with Chinese financial domain. The data and the code are available at https://github.com/SUFE-AIFLMLab/FinEval.

poster

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Welcome to 2025 Annual Conference of the Nations of the Americas Chapter of the Association for Computational Linguistics

Large Language Models have demonstrated impressive reasoning capabilities across multiple languages. However, the relationship between capabilities in different languages is less explored. In this work, we decompose the process of reasoning tasks into two separated components: knowledge retrieval and knowledge-free reasoning, and analyze the relationship between cross-lingual transferability and these two components. With adapted commonsense reasoning datasets and constructed knowledge-free reasoning datasets, we show that the knowledge-free reasoning capability can be nearly perfectly transferred across various source-target language directions despite the secondary impact of resource in some specific target languages, while cross-lingual knowledge retrieval significantly hinders the transfer. Moreover, by analyzing the hidden states and feed-forward network neuron activation during the reasoning, we show that higher similarity of hidden representations and larger overlap of activated neurons could explain the better cross-lingual transferability of knowledge-free reasoning than knowledge retrieval. Thus, we hypothesize that knowledge-free reasoning shares similar neurons in different languages for reasoning, while knowledge is stored separately in different languages.

Large Language Models Are Cross-Lingual Knowledge-Free Reasoners

Piaget's Theory of Cognitive Development (PTC) posits that the development of cognitive levels forms the foundation for human learning across various abilities. As Large Language Models (LLMs) have recently shown remarkable abilities across a wide variety of tasks, we are curious about the cognitive levels of current LLMs: to what extent they have developed and how this development has been achieved. To this end, we construct a benchmark CogLM (Cognitive Ability Evaluation for Language Model) based on PTC to assess the cognitive levels of LLMs. CogLM comprises 1,220 questions spanning 10 cognitive abilities crafted by more than 20 human experts, providing a comprehensive testbed for the cognitive levels of LLMs. Through extensive experiments across multiple mainstream LLMs with CogLM, we find that: (1) In our testing framework, advanced LLMs (such as GPT-4) have demonstrated human-like cognitive abilities, comparable to those of a 20-year-old human. (2) The parameter size and optimization objective are two key factors affecting the cognitive levels of LLMs. (3) The performance on downstream tasks is positively correlated with the level of cognitive abilities. These findings fill the gap in research on the cognitive abilities of LLMs, tracing the development of LLMs from a cognitive perspective and guiding the future direction of their evolution.

CogLM: Tracking Cognitive Development of Large Language Models

Long-term memory is important for chatbots and dialogue systems (DS) to create consistent and human-like conversations, evidenced by numerous developed memory-augmented DS (MADS). To evaluate the effectiveness of such MADS, existing commonly used evaluation metrics, like retrieval accuracy and perplexity (PPL), mainly focus on query-oriented factualness and language quality assessment. However, these metrics often lack practical value. Moreover, the evaluation dimensions are insufficient for human-like assessment in DS. Regarding memory-recalling paradigms, current evaluation schemes only consider passive memory retrieval while ignoring diverse memory recall with rich triggering factors, e.g., emotions and surroundings, which can be essential in emotional support scenarios. To bridge the gap, we construct a novel Memory-Augmented Dialogue Benchmark (MADail-Bench) covering various memory-recalling paradigms based on cognitive science and psychology theories. The benchmark assesses two tasks separately: memory retrieval and memory recognition with the incorporation of both passive and proactive memory recall data. We introduce new scoring criteria to the evaluation, including memory injection, emotion support (ES) proficiency, and intimacy, to comprehensively assess generated responses. Results from cutting-edge embedding models and large language models on this benchmark indicate the potential for further advancement. Extensive testing further reveals correlations between memory injection, ES proficiency, and intimacy.

MADial-Bench: Towards Real-world Evaluation of Memory-Augmented Dialogue Generation

The scarcity of domain-specific dialogue datasets limits the development of dialogue systems across applications. Existing research is constrained by general or niche datasets that lack sufficient scale for training dialogue systems. To address this gap, we introduce **DiaSynth** - a synthetic dialogue generation framework capable of generating high-quality, contextually rich dialogues across a wide range of domains. Unlike existing frameworks, DiaSynth uses Large Language Models (LLMs) and Chain of Thought (CoT) reasoning to generate dynamic, domain-specific dialogues with simulated personas and diverse conversational features. We perform our experiments by generating synthetic data using different LLMs and few-shot examples from DialogSum and SAMSum. The pretrained language models fine-tuned on the synthetic data outperform the base models by **16.47%** on dialogue summarization, while the comparison between models fine-tuned on in-domain data and synthetic data shows that the synthetic data is able to capture **90.48%** of the performance distribution of the in-domain data on dialogue summarization. The quality of the data generated also increases as we increase the size of LLM from 3B to 8B. These results validate DiaSynth's potential as a robust alternative to traditional data collection methods. We open source the code and data generated for future research.

DiaSynth: Synthetic Dialogue Generation Framework for Low Resource Dialogue Applications

Recent advances in large language models (LLMs) have demonstrated potential for LLM agents. To facilitate the training for these agents with both linguistic feedback and non-linguistic reward signals, we introduce Learning through Communication (LTC). We design a universal buffer to store all the feedback, and an iterative pipeline to enable an LLM agent to explore and update its policy in an given environment. To optimize agent interactions for task-specific learning with our universal buffer and pipeline, we introduce diverse communication patterns tailored for both single-agent and multi-agent environments. We evaluate the efficacy of our LTC approach on four diverse datasets: ALFWorld (single-agent), HotpotQA (multi-agent collaboration), Chameleon (multi-agent competition), and GSM8k (multi-agent teacher-student). On these data sets, LTC outperforms the supervised instruction fine-tuning baselines by 3.6% to 12%. These results highlight the versatility and efficiency of LTC in facilitating online adaptation for LLM agents.

Adapting LLM Agents with Universal Communication Feedback

This paper aims to improve the performance of large language models by addressing the variable computational demands in inference steps, where some tokens require more computational resources than others. We present HARP, a simple modification to ''off-the-shelf'' Transformer forward pass. Drawing from hesitation and the framing effect in decision-making, HARP selectively applies additional computation when the model encounters uncertainty during token generation. Our method mimics human cognitive processes by pausing at difficult decision points and reframing inputs for a different perspective. Unlike other approaches, HARP is model-agnostic, training-free, and easy to implement. We evaluate our method across various downstream tasks and model sizes, demonstrating performance improvements up to +5.16%. Notably, HARP achieves these gains while maintaining inference times twice faster than beam search. Simple and yet with significant gains, HARP provides insights into the potential of adaptive computation for enhancing the performance of Transformer-based language models.

HARP: Hesitation-Aware Reframing in Transformer Inference Pass

The rapid development of large-scale text-to-speech (TTS) models has led to significant advancements in modeling diverse speaker prosody and voices. However, these models often face issues such as slow inference speeds, reliance on complex pre-trained neural codec representations, and difficulties in achieving naturalness and high similarity to reference speakers. To address these challenges, this work introduces StyleTTS-ZS, an efficient zero-shot TTS model that leverages distilled time-varying style diffusion to capture diverse speaker identities and prosodies. We propose a novel approach that represents human speech using input text and fixed-length time-varying discrete style codes to capture diverse prosodic variations, trained adversarially with multi-modal discriminators. A diffusion model is then built to sample this time-varying style code for efficient latent diffusion. Using classifier-free guidance, StyleTTS-ZS achieves high similarity to the reference speaker in the style diffusion process. Furthermore, to expedite sampling, the style diffusion model is distilled with perceptual loss using only 10k samples, maintaining speech quality and similarity while reducing inference speed by 90%. Our model surpasses previous state-of-the-art large-scale zero-shot TTS models in both naturalness and similarity, offering a 10-20× faster sampling speed, making it an attractive alternative for efficient large-scale zero-shot TTS systems. The audio demo, code and models are available at https://styletts-zs.github.io/.

StyleTTS-ZS: Efficient High-Quality Zero-Shot Text-to-Speech Synthesis with Distilled Time-Varying Style Diffusion

This paper introduces layout-aware graph modeling for multimodal RAG. Different from traditional RAG methods that only deal with flat text chunks, the proposed method takes into account the relationship of multimodalities by using a graph structure. To do that, a graph modeling structure is defined based on document layout parsing. The structure of an input document is retained with the connection of text chunks, tables, and figures. This representation allows the method to handle complex questions that require information from multimodalities. To confirm the efficiency of the graph modeling, a flexible RAG pipeline is developed using robust components. Experimental results on four benchmark test sets confirm the contribution of the layout-aware modeling for performance improvement of the RAG pipeline.

SuperRAG: Beyond RAG with Layout-Aware Graph Modeling

One of the key tasks in machine learning for tabular data is feature engineering. Although it is vital for improving the performance of models, it demands considerable human expertise and deep domain knowledge, making it labor-intensive endeavor. To address this issue, we propose a novel framework, **FeRG-LLM** (**Fe**ature engineering by **R**eason **G**eneration **L**arge **L**anguage **M**odels), a large language model designed to automatically perform feature engineering at an 8-billion-parameter scale. We have constructed two-stage conversational dialogues that enable language models to analyze machine learning tasks and discovering new features, exhibiting their Chain of Thoughts (CoT) capabilities. We use these dialogues to fine-tune Llama 3.1 8B model and integrate Direct Preference Optimization (DPO) to receive feedback improving quality of new features and the model's performance. Our experiments show that FeRG-LLM performs comparably to or better than Llama 3.1 70B on most datasets, while using fewer resources and achieving reduced inference time. It outperforms other studies in classification tasks and performs well in regression tasks. Moreover, since it does not rely on cloud-hosted LLMs like GPT-4 with extra API costs when generating features, it can be deployed locally, addressing security concerns.

FeRG-LLM : Feature Engineering by Reason Generation Large Language Models

The next token prediction loss is the dominant self-supervised training objective for large language models and has achieved promising results in a variety of downstream tasks. However, upon closer investigation of this objective, we find that it lacks an understanding of sequence-level signals, leading to a mismatch between training and inference processes. To bridge this gap, we introduce a contrastive preference optimization (CPO) procedure that can inject sequence-level information into the language model at any training stage without expensive human labeled data. Our experiments show that the proposed objective surpasses the next token prediction in terms of win rate in the instruction-following and text generation tasks.

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