In digital image and video processing, a color layout descriptor (CLD) is designed to capture the spatial distribution of color in an image. The feature extraction process consists of two parts: grid based representative color selection and discrete cosine transform with quantization. Color is the most basic quality of the visual contents, therefore it is possible to use colors to describe and represent an image. The MPEG-7 standard has tested the most efficient procedure to describe the color and has selected those that have provided more satisfactory results. This standard proposes different methods to obtain these descriptors, and one tool defined to describe the color is the CLD, that permits describing the color relation between sequences or group of images. The CLD captures the spatial layout of the representative colors on a grid superimposed on a region or image. Representation is based on coefficients of the discrete cosine transform (DCT). This is a very compact descriptor being highly efficient in fast browsing and search applications. It can be applied to still images as well as to video segments. == Definition == The CLD is a very compact and resolution-invariant representation of color for high-speed image retrieval and it has been designed to efficiently represent the spatial distribution of colors. This feature can be used for a wide variety of similarity-based retrieval, content filtering and visualization. It is especially useful for spatial structure-based retrieval applications. This descriptor is obtained by applying the DCT transformation on a 2-D array of local representative colors in Y or Cb or Cr color space. The functionalities of the CLD are basically the matching: – Image-to-image matching – Video clip-to-video clip matching Remark that the CLD is one of the most precise and fast color descriptor. == Extraction == The extraction process of this color descriptor consists of four stages: Image partitioning Representative color selection DCT transformation Zigzag scanning The standard MPEG-7 recommends using the YCbCr color space for the CLD. === Image partitioning === In the image partitioning stage, the input picture (on RGB color space) is divided into 64 blocks to guarantee the invariance to resolution or scale. The inputs and outputs of this step are summarized in the following table: === Representative color selection === After the image partitioning stage, a single representative color is selected from each block. Any method to select the representative color can be applied, but the standard recommends the use of the average of the pixel colors in a block as the corresponding representative color, since it is simpler and the description accuracy is sufficient in general. The selection results in a tiny image icon of size 8x8. The next figure shows this process. Note that in the image of the figure, the resolution of the original image has been maintained only in order to facilitate its representation. The inputs and outputs of this stage are summarized in the next table: Once the tiny image icon is obtained, the color space conversion between RGB and YCbCr is applied. === DCT transformation === In the fourth stage, the luminance (Y) and the blue and red chrominance (Cb and Cr) are transformed by 8x8 DCT, so three sets of 64 DCT coefficients are obtained. To calculate the DCT in a 2D array, the formulas below are used. B p q = α p α q ∑ m = 0 M − 1 ∑ n = 0 N − 1 A m n cos π ( 2 m + 1 ) p 2 M cos π ( 2 n + 1 ) q 2 N , 0 ≤ p ≤ M − 1 , 0 ≤ q ≤ N − 1 {\displaystyle B_{pq}=\alpha _{p}\alpha _{q}\sum _{m=0}^{M-1}\sum _{n=0}^{N-1}A_{mn}\cos {\frac {\pi (2m+1)p}{2M}}\cos {\frac {\pi (2n+1)q}{2N}},\qquad 0\leq p\leq M-1,\;0\leq q\leq N-1} α p = { 1 M , p = 0 2 M , 1 ≤ p ≤ M − 1 α q = { 1 N , q = 0 2 N , 1 ≤ q ≤ N − 1 {\displaystyle \alpha _{p}={\begin{cases}{\frac {1}{\sqrt {M}}},&p=0\\{\sqrt {\frac {2}{M}}},&1\leq p\leq M-1\end{cases}}\qquad \alpha _{q}={\begin{cases}{\frac {1}{\sqrt {N}}},&q=0\\{\sqrt {\frac {2}{N}}},&1\leq q\leq N-1\end{cases}}} The inputs and outputs of this stage are summarized in the next table: === Zigzag scanning === A zigzag scanning is performed with these three sets of 64 DCT coefficients, following the schema presented in the figure. The purpose of the zigzag scan is to group the low frequency coefficients of the 8x8 matrix into a vector. The inputs and outputs of this stage are summarized in the next table: Finally, these three set of matrices correspond to the CLD of the input image. == Matching == The matching process helps to evaluate if two elements are equal comparing both elements and calculating the distance between them. In the case of color descriptors the matching process helps to evaluate if two images are similar. Its procedure is the following: – Given an image as an input, the application attempts to find an image with a similar descriptor in a data base of images. If we consider two CLDs: {DY, DCb, DCr} { DY‟, DCb‟, DCr‟ }, The distance between the two descriptors can be computed as: D = ∑ i w y i ( D Y i − D Y i ′ ) 2 + ∑ i w b i ( D C b i − D C b i ′ ) 2 + ∑ i w r i ( D C r i − D C r i ′ ) 2 {\displaystyle D={\sqrt {\sum _{i}w_{yi}(DY_{i}-DY_{i}')^{2}}}+{\sqrt {\sum _{i}w_{bi}(DCb_{i}-DCb_{i}')^{2}}}+{\sqrt {\sum _{i}w_{ri}(DCr_{i}-DCr_{i}')^{2}}}} The subscript i represents the zigzag-scanning order of the coefficients. Furthermore, notice that is possible to weight the coefficients (w) in order to adjust the performance of the matching process. These weights let us give to some components of the descriptor more importance than others. Observing the formula, it can be extracted that: – 2 images are the same if the distance is 0 – 2 images are similar if the distance is near to 0 Therefore, this matching process will let to identify images with similar color descriptors. Since the complexity of the similarity matching process shown above is low, high-speed image matching can be achieved.
Test data
Test data are sets of inputs or information used to verify the correctness, performance, and reliability of software systems. Test data encompass various types, such as positive and negative scenarios, edge cases, and realistic user scenarios, and aims to exercise different aspects of the software to uncover bugs and validate its behavior. Test data is also used in regression testing to verify that new code changes or enhancements do not introduce unintended side effects or break existing functionalities. == Background == Test data may be used to verify that a given set of inputs to a function produces an expected result. Alternatively, data can be used to challenge the program's ability to handle unusual, extreme, exceptional, or unexpected inputs. Test data can be produced in a focused or systematic manner, as is typically the case in domain testing, or through less focused approaches, such as high-volume randomized automated tests. Test data can be generated by the tester or by a program or function that assists the tester. It can be recorded for reuse or used only once. Test data may be created manually, using data generation tools (often based on randomness), or retrieved from an existing production environment. The data set may consist of synthetic (fake) data, but ideally, it should include representative (real) data. == Limitations == Due to privacy regulations such as GDPR, PCI, and the HIPAA, the use of privacy-sensitive personal data for testing is restricted. However, anonymized (and preferably subsetted) production data may be used as representative data for testing and development. Programmers may also choose to generate synthetic data as an alternative to using real or anonymized data. While synthetic data can offer significant advantages, such as enhanced privacy and flexibility, it also comes with limitations. For instance, generating synthetic data that accurately reflects real-world complexity can be challenging. There is also a risk of synthetic data not fully capturing the nuances of real data, potentially leading to gaps in test coverage. == Domain testing == Domain testing is a set of techniques focusing on test data. This includes identifying critical inputs, values at the boundaries between equivalence classes, and combinations of inputs that drive the system toward specific outputs. Domain testing helps ensure that various scenarios are effectively tested, including edge cases and unusual conditions.
Scene text
Scene text is text that appears in an image captured by a camera in an outdoor environment. The detection and recognition of scene text from camera captured images are computer vision tasks which became important after smart phones with good cameras became ubiquitous. The text in scene images varies in shape, font, colour and position. The recognition of scene text is further complicated sometimes by non-uniform illumination and focus. To improve scene text recognition, the International Conference on Document Analysis and Recognition (ICDAR) conducts a robust reading competition once in two years. The competition was held in 2003, 2005 and during every ICDAR conference. International association for pattern recognition (IAPR) has created a list of datasets as Reading systems. == Text detection == Text detection is the process of detecting the text present in the image, followed by surrounding it with a rectangular bounding box. Text detection can be carried out using image based techniques or frequency based techniques. In image based techniques, an image is segmented into multiple segments. Each segment is a connected component of pixels with similar characteristics. The statistical features of connected components are utilised to group them and form the text. Machine learning approaches such as support vector machine and convolutional neural networks are used to classify the components into text and non-text. In frequency based techniques, discrete Fourier transform (DFT) or discrete wavelet transform (DWT) are used to extract the high frequency coefficients. It is assumed that the text present in an image has high frequency components and selecting only the high frequency coefficients filters the text from the non-text regions in an image. == Word recognition == In word recognition, the text is assumed to be already detected and located and the rectangular bounding box containing the text is available. The word present in the bounding box needs to be recognized. The methods available to perform word recognition can be broadly classified into top-down and bottom-up approaches. In the top-down approaches, a set of words from a dictionary is used to identify which word suits the given image. Images are not segmented in most of these methods. Hence, the top-down approach is sometimes referred as segmentation free recognition. In the bottom-up approaches, the image is segmented into multiple components and the segmented image is passed through a recognition engine. Either an off the shelf Optical character recognition (OCR) engine or a custom-trained one is used to recognise the text.
Inverse depth parametrization
In computer vision, the inverse depth parametrization is a parametrization used in methods for 3D reconstruction from multiple images such as simultaneous localization and mapping (SLAM). Given a point p {\displaystyle \mathbf {p} } in 3D space observed by a monocular pinhole camera from multiple views, the inverse depth parametrization of the point's position is a 6D vector that encodes the optical centre of the camera c 0 {\displaystyle \mathbf {c} _{0}} when in first observed the point, and the position of the point along the ray passing through p {\displaystyle \mathbf {p} } and c 0 {\displaystyle \mathbf {c} _{0}} . Inverse depth parametrization generally improves numerical stability and allows to represent points with zero parallax. Moreover, the error associated to the observation of the point's position can be modelled with a Gaussian distribution when expressed in inverse depth. This is an important property required to apply methods, such as Kalman filters, that assume normality of the measurement error distribution. The major drawback is the larger memory consumption, since the dimensionality of the point's representation is doubled. == Definition == Given 3D point p = ( x , y , z ) {\displaystyle \mathbf {p} =(x,y,z)} with world coordinates in a reference frame ( e 1 , e 2 , e 3 ) {\displaystyle (e_{1},e_{2},e_{3})} , observed from different views, the inverse depth parametrization y {\displaystyle \mathbf {y} } of p {\displaystyle \mathbf {p} } is given by: y = ( x 0 , y 0 , z 0 , θ , ϕ , ρ ) {\displaystyle \mathbf {y} =(x_{0},y_{0},z_{0},\theta ,\phi ,\rho )} where the first five components encode the camera pose in the first observation of the point, being c 0 = ( x 0 , y 0 , z 0 ) {\displaystyle \mathbf {c_{0}} =(x_{0},y_{0},z_{0})} the optical centre, ϕ {\displaystyle \phi } the azimuth, θ {\displaystyle \theta } the elevation angle, and ρ = 1 ‖ p − c 0 ‖ {\displaystyle \rho ={\frac {1}{\left\Vert \mathbf {p} -\mathbf {c} _{0}\right\Vert }}} the inverse depth of p {\displaystyle p} at the first observation.
Quantexa
Quantexa is a UK-based software company that develops artificial intelligence-based applications for data analytics and decision-making. The company was founded in 2016 and is headquartered in London, with operations in North America, Europe, and the Asia-Pacific region. As of 2025, Quantexa reported a valuation of $2.6 billion and provides services to organizations in over 70 countries. Investors include Warburg Pincus, HSBC, and the Ontario Teachers’ Pension Plan. == History == Quantexa was founded in London in 2016 by several co-founders, including Jamie Hutton, Richard Seewald, Imam Hoque, Felix Hoddinott, and Vishal Marria, who also serves as the company's chief executive officer. The company was established to develop tools intended to address limitations in traditional data analysis methods, particularly those related to identifying hidden connections across large datasets. The name "Quantexa" is derived from the company's focus on quantitative methods and data analysis. In 2023, Quantexa acquired Dublin-based AI firm Aylien. In April 2023, the company completed a Series E funding round, raising $129 million at a valuation of approximately $1.8 billion, marking its entry into "unicorn" status. In October 2024, the company reported annual recurring revenue (ARR) exceeding $100 million. In early 2025, Quantexa participated in the World Economic Forum's Unicorn Program, which supports high-growth technology companies. In March 2025, Quantexa completed a Series F funding round of $175 million, led by Teachers' Venture Growth, the venture arm of the Ontario Teachers' Pension Plan. That August, the company was reported to be considering a 2026 IPO. The company formed a partnership with Zurich in October 2025, the first insurer to add its AI-based Decision Intelligence platform to enhance fraud detection.
News analytics
In trading strategy, news analysis refers to the measurement of the various qualitative and quantitative attributes of textual (unstructured data) news stories. Some of these attributes are: sentiment, relevance, and novelty. Expressing news stories as numbers and metadata permits the manipulation of everyday information in a mathematical and statistical way. This data is often used in financial markets as part of a trading strategy or by businesses to judge market sentiment and make better business decisions. News analytics are usually derived through automated text analysis and applied to digital texts using elements from natural language processing and machine learning such as latent semantic analysis, support vector machines, "bag of words" among other techniques. == Applications and strategies == The application of sophisticated linguistic analysis to news and social media has grown from an area of research to mature product solutions since 2007. News analytics and news sentiment calculations are now routinely used by both buy-side and sell-side in alpha generation, trading execution, risk management, and market surveillance and compliance. There is however a good deal of variation in the quality, effectiveness and completeness of currently available solutions. A large number of companies use news analysis to help them make better business decisions. Academic researchers have become interested in news analysis especially with regards to predicting stock price movements, volatility and traded volume. Provided a set of values such as sentiment and relevance as well as the frequency of news arrivals, it is possible to construct news sentiment scores for multiple asset classes such as equities, Forex, fixed income, and commodities. Sentiment scores can be constructed at various horizons to meet the different needs and objectives of high and low frequency trading strategies, whilst characteristics such as direction and volatility of asset returns as well as the traded volume may be addressed more directly via the construction of tailor-made sentiment scores. Scores are generally constructed as a range of values. For instance, values may range between 0 and 100, where values above and below 50 convey positive and negative sentiment, respectively. === Absolute return strategies === The objective of absolute return strategies is absolute (positive) returns regardless of the direction of the financial market. To meet this objective, such strategies typically involve opportunistic long and short positions in selected instruments with zero or limited market exposure. In statistical terms, absolute return strategies should have very low correlation with the market return. Typically, hedge funds tend to employ absolute return strategies. Below, a few examples show how news analysis can be applied in the absolute return strategy space with the purpose to identify alpha opportunities applying a market neutral strategy or based on volatility trading. Example 1 Scenario: The gap between the news sentiment scores for direction, S {\displaystyle S} , of Company X {\displaystyle X} and Market Y {\displaystyle Y} has moved beyond + 20 {\displaystyle +20} . That is, S X − S Y {\displaystyle S_{X}-S_{Y}} ≥ 20 {\displaystyle 20} . Action: Buy the stock on Company X {\displaystyle X} and short the future on Market Y {\displaystyle Y} . Exit Strategy: When the gap in the news sentiment scores for direction of Company X {\displaystyle X} and Market Y {\displaystyle Y} has disappeared, S X − S Y {\displaystyle S_{X}-S_{Y}} = 0 {\displaystyle 0} , sell the stock on Company X {\displaystyle X} and go long the future on Market Y {\displaystyle Y} to close the positions. Example 2 Scenario: The news sentiment score for volatility of Company X {\displaystyle X} goes above 70 {\displaystyle 70} out of 100 {\displaystyle 100} indicating an expected volatility above the option implied volatility. Action: Buy a short-dated straddle (the purchase of both a put and a call) on the stock of Company X {\displaystyle X} . Exit Strategy: Keep the straddle on Company X {\displaystyle X} until expiry or until a certain profit target has been reached. === Relative return strategies === The objective of relative return strategies is to either replicate (passive management) or outperform (active management) a theoretical passive reference portfolio or benchmark. To meet these objectives such strategies typically involve long positions in selected instruments. In statistical terms, relative return strategies often have high correlation with the market return. Typically, mutual funds tend to employ relative return strategies. Below, a few examples show how news analysis can be applied in the relative return strategy space with the purpose to outperform the market applying a stock picking strategy and by making tactical tilts to ones asset allocation model. Example 1 Scenario: The news sentiment score for direction of Company X {\displaystyle X} goes above 70 {\displaystyle 70} out of 100 {\displaystyle 100} . Action: Buy the stock on Company X {\displaystyle X} . Exit Strategy: When the news sentiment score for direction of Company X {\displaystyle X} falls below 60 {\displaystyle 60} , sell the stock on Company X {\displaystyle X} to close the position. Example 2 Scenario: The news sentiment score for direction of Sector Z {\displaystyle Z} goes above 70 {\displaystyle 70} out of 100 {\displaystyle 100} . Action: Include Sector Z {\displaystyle Z} as a tactical bet in the asset allocation model. Exit Strategy: When the news sentiment score for direction of Sector Z {\displaystyle Z} falls below 60 {\displaystyle 60} , remove the tactical bet for Sector Z {\displaystyle Z} from the asset allocation model. === Financial risk management === The objective of financial risk management is to create economic value in a firm or to maintain a certain risk profile of an investment portfolio by using financial instruments to manage risk exposures, particularly credit risk and market risk. Other types include Foreign exchange, Shape, Volatility, Sector, Liquidity, Inflation risks, etc. Below, a few examples show how news analysis can be applied in the financial risk management space with the purpose to either arrive at better risk estimates in terms of Value at Risk (VaR) or to manage the risk of a portfolio to meet ones portfolio mandate. Example 1 Scenario: The bank operates a VaR model to manage the overall market risk of its portfolio. Action: Estimate the portfolio covariance matrix taking into account the development of the news sentiment score for volume. Implement the relevant hedges to bring the VaR of the bank in line with the desired levels. Example 2 Scenario: A portfolio manager operates his portfolio towards a certain desired risk profile. Action: Estimate the portfolio covariance matrix taking into account the development of the news sentiment score for volume. Scale the portfolio exposure according to the targeted risk profile. === Computer algorithms using news analytics === Within 0.33 seconds, computer algorithms using news analytics can notify subscribers which company the news is about, if the news article sentiment is positive or negative, if the news is ranked as high or low relative importance … relative relevance. the stock price reaction and the increase in trade volume is concentrated in the first 5 seconds after an news article is released. === Algorithmic order execution === The objective of algorithmic order execution, which is part of the concept of algorithmic trading, is to reduce trading costs by optimizing on the timing of a given order. It is widely used by hedge funds, pension funds, mutual funds, and other institutional traders to divide up large trades into several smaller trades to manage market impact, opportunity cost, and risk more effectively. The example below shows how news analysis can be applied in the algorithmic order execution space with the purpose to arrive at more efficient algorithmic trading systems. Example 1 Scenario: A large order needs to be placed in the market for the stock on Company X {\displaystyle X} . Action: Scale the daily volume distribution for Company X {\displaystyle X} applied in the algorithmic trading system, thus taking into account the news sentiment score for volume. This is followed by the creation of the desired trading distribution forcing greater market participation during the periods of the day when volume is expected to be heaviest. == Effects == Being able to express news stories as numbers permits the manipulation of everyday information in a statistical way that allows computers not only to make decisions once made only by humans, but to do so more efficiently. Since market participants are always looking for an edge, the speed of computer connections and the delivery of news analysis, measured in milliseconds, have become essential.
MyPertamina
MyPertamina is a digital financial service platform from Pertamina that integrated with the apps LinkAja. This application is used for non-cash fuel oil payments at Pertamina's public fueling stations. == History == Originally, MyPertamina were merchandise outlets of Pertamina products. It was launched on December 21, 2016, with 3 outlets in Jakarta. MyPertamina sells clothes, hats, and other products with Pertamina products brands. One month later (January 2017), Pertamina and Bank Mandiri entered into a partnership to launch the Mandiri Credit Card Pertamina Mastercard product, so that consumers can make payments when users fill up fuel at Pertamina gas stations. In August 2017, MyPertamina app and electronic card were launched through MyPertamina Loyalty program at Gaikindo Indonesia International Auto Show 2017. The card can be used on EDC machines for non-cash payments. Initial balances are in its own app, that can be top up by ATMs and online banking.