Stochastic analysis and the development and application of financial risk processes. Ensuring the stability of Australia's financial system requires an understanding of the complex financial instruments, strategies and technologies that have evolved in recent years. A strong well-integrated research effort in stochastic analysis with particular application to financial markets is fundamental for measuring and managing risk, to protect and preserve a well functioning system, and to inform policy ....Stochastic analysis and the development and application of financial risk processes. Ensuring the stability of Australia's financial system requires an understanding of the complex financial instruments, strategies and technologies that have evolved in recent years. A strong well-integrated research effort in stochastic analysis with particular application to financial markets is fundamental for measuring and managing risk, to protect and preserve a well functioning system, and to inform policy debate on financial strategies and insurance liabilities.
These challenges are global and require extensive international research collaboration and interaction. The present project will enhance Australia's contributions in this area and facilitate its global impact more than is possible through individual efforts.Read moreRead less
From Universal Induction to Intelligent Systems. The dream of creating artificial devices that (out)reach human intelligence is an old one. What makes this challenge so interesting? A solution would have enormous implications for our society, and there are arguments that the AI problem might be solved within a couple of decades. Specialized intelligent systems are actually already pervasive (finger print, handwriting, speech, and face recognition; spam filtering; search engines; computer chess; ....From Universal Induction to Intelligent Systems. The dream of creating artificial devices that (out)reach human intelligence is an old one. What makes this challenge so interesting? A solution would have enormous implications for our society, and there are arguments that the AI problem might be solved within a couple of decades. Specialized intelligent systems are actually already pervasive (finger print, handwriting, speech, and face recognition; spam filtering; search engines; computer chess; robots). This decade the first presumably complete mathematical theory of AI has been proposed. By working out this theory, this project will significantly contribute to the foundations of inductive inference and AI, and ultimately lead to smarter software and intelligent systems.Read moreRead less
Expenditure needs and drawdown of retirement savings during later life: how important are demographic factors and financial resources? Projections of expenditure patterns in retirement which allow for population heterogeneity will provide individuals with a better appreciation of their income needs and their savings requirements for a comfortable retirement. It will also enable financial institutions to develop products which better target retirees' needs over the course of retirement, and in ad ....Expenditure needs and drawdown of retirement savings during later life: how important are demographic factors and financial resources? Projections of expenditure patterns in retirement which allow for population heterogeneity will provide individuals with a better appreciation of their income needs and their savings requirements for a comfortable retirement. It will also enable financial institutions to develop products which better target retirees' needs over the course of retirement, and in addition it will enable improved assessment of aspects of Government income support policy. Specifically, understanding the complex interactions between private and public pensions, and concession card receipt upon expenditure behaviour, will enable more accurate costings of the public support of elderly families as Australia's population ages. Read moreRead less
Financial Risk Processes: Stochastic and Statistical Models and their Applications. On the one hand, the misuse of complex financial instruments has contributed to recent major disasters in the Australian financial and insurance industries; on the other hand, great benefits can be obtained by correct use of these kinds of instruments, to share risk between markets and segments of markets. The overall research effort in Australia in these areas is relatively small. This project will target the de ....Financial Risk Processes: Stochastic and Statistical Models and their Applications. On the one hand, the misuse of complex financial instruments has contributed to recent major disasters in the Australian financial and insurance industries; on the other hand, great benefits can be obtained by correct use of these kinds of instruments, to share risk between markets and segments of markets. The overall research effort in Australia in these areas is relatively small. This project will target the development of cutting edge technologies underlying the use of financial derivatives, not presently studied in this country or elsewhere, by bringing together a variety of top level international researchers in an integrated effort to lift the Australian understanding and application of this methodology.Read moreRead less
Modelling, Identification and Control of Complex Networks. Australia has been well known for its leading research in systems and control and many real-world applications in, for instance, telecommunications, defence, power grids and life sciences. This project will further promote Australia's leading position in the emerging new research field - complex networks by theoretical breakthrough in modelling, identification and control of complex networks, and cutting-edge platform technology that can ....Modelling, Identification and Control of Complex Networks. Australia has been well known for its leading research in systems and control and many real-world applications in, for instance, telecommunications, defence, power grids and life sciences. This project will further promote Australia's leading position in the emerging new research field - complex networks by theoretical breakthrough in modelling, identification and control of complex networks, and cutting-edge platform technology that can help Australian energy industry to reduce greenhouse emissions. It will also result in education of the next generation research leaders in this emerging field.Read moreRead less
Stochastic Analysis with a View to Applications in Financial Risk Processes. Recent decades have seen explosive growth in applications of probability theory and statistics to the modelling of risk in finance and insurance. An intensive theoretical investigation into passage time and other problems for Levy and other continuous time processes will be applied to financial risk analyses. Related investigations will involve perpetuities and stochastic volatility models for price series. Outcomes ....Stochastic Analysis with a View to Applications in Financial Risk Processes. Recent decades have seen explosive growth in applications of probability theory and statistics to the modelling of risk in finance and insurance. An intensive theoretical investigation into passage time and other problems for Levy and other continuous time processes will be applied to financial risk analyses. Related investigations will involve perpetuities and stochastic volatility models for price series. Outcomes will include the development of new theory in probability and statistics, the initiation and reinforcement of collaborative ties with major international research figures, and the fostering of contacts with the finance industry.Read moreRead less
Seasonal adjustment using disaggregated short time span data. Seasonally adjusted economic and social times series are vital information used by governments and businesses in decision making. This project will develop statistical methods to estimate and remove seasonal factors from economic and social time series using finely disaggregated data for a relatively small number of time periods. This will enable better and quicker estimation of seasonal factors when new series are introduced or there ....Seasonal adjustment using disaggregated short time span data. Seasonally adjusted economic and social times series are vital information used by governments and businesses in decision making. This project will develop statistical methods to estimate and remove seasonal factors from economic and social time series using finely disaggregated data for a relatively small number of time periods. This will enable better and quicker estimation of seasonal factors when new series are introduced or there a major changes to existing series, improving the analysis of such series and the decisions based on them.Read moreRead less
Parallel and Distributed Machine Learning - Smart Data Analysis in the Multicore Era. In large data centres our research will lead to reduced energy consumption by using graphics cards which have a much better computation to power ratio than traditional processors. On desktop computers, it will make machine learning practical by enabling efficient algorithms for spam filtering and content analysis. On networked systems it will lead to distributed inference, caching and collaborative filtering ap ....Parallel and Distributed Machine Learning - Smart Data Analysis in the Multicore Era. In large data centres our research will lead to reduced energy consumption by using graphics cards which have a much better computation to power ratio than traditional processors. On desktop computers, it will make machine learning practical by enabling efficient algorithms for spam filtering and content analysis. On networked systems it will lead to distributed inference, caching and collaborative filtering applications which will both reduced the bandwidth required and make the internet safer for users. Finally, it will enable rapid deployment of sensor networks for monitoring and detection, such as for environmental monitoring and safeguarding Australia's borders.Read moreRead less
Statistical and Mathematical Analyses of Sequence and Array Data. Development of mathematical and statistical methods and tools in bioinformation science will ensure that Australia is at the cutting-edge of modern biology. This will enhance Australia's reputation for dealing with the exponentially growing body of genomic data emerging from life sciences laboratories throughout the world. The proposed project has a broad range of potential applications in biotechnology, particularly in the medic ....Statistical and Mathematical Analyses of Sequence and Array Data. Development of mathematical and statistical methods and tools in bioinformation science will ensure that Australia is at the cutting-edge of modern biology. This will enhance Australia's reputation for dealing with the exponentially growing body of genomic data emerging from life sciences laboratories throughout the world. The proposed project has a broad range of potential applications in biotechnology, particularly in the medical and agricultural industries. Examples include improvements to livestock, in plant breeding such as drought resistance, and better genetic disease diagnosis, including earlier cancer diagnosis, and personalised treatment.Read moreRead less
Large Scale Complex Multiagent Systems : Control Methodologies and Information Architectures. Future military operations are likely to involve increasing use of unmanned vehicles, airborne, underwater or on land. In some cases there will be very large formations. This research will develop methodologies which allow formations of unmanned vehicles to be configured. Much of the same methodology is applicable to the construction and operation of large scale sensor networks, identified by some comm ....Large Scale Complex Multiagent Systems : Control Methodologies and Information Architectures. Future military operations are likely to involve increasing use of unmanned vehicles, airborne, underwater or on land. In some cases there will be very large formations. This research will develop methodologies which allow formations of unmanned vehicles to be configured. Much of the same methodology is applicable to the construction and operation of large scale sensor networks, identified by some commentators as one of the most important technologies of the 21st century. They comprise large numbers of low cost networked sensors and will increasingly find application in security, agricultural and environmental monitoring.Read moreRead less