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NeurIPS Paper Reviews 2024 #9

NeurIPS Paper Reviews 2024 #9

7 February 2025
  • News
  • Quantitative Research

Andrew, Quant Research Manager

In this paper review series, our team of researchers and machine learning practitioners discuss the papers they found most interesting at NeurIPS 2024.

Here, discover the perspectives of Quant Research Manager, Andrew.

Algorithmic Capabilities of Random Transformers

Ziqian Zhong, Jacob Andreas

The authors present interesting results that shed some light on the inductive biases inherent in the transformer architecture. By learning only the embedding and readout layers on randomly initialised transformers, they are able to train remarkably strong models on a variety of algorithmic tasks including modular addition and parenthesis balancing, which suggests that core elements of these algorithms are available at initialisation (reminiscent of the “lottery ticket” hypothesis that has been applied to deep neural networks).

The authors investigate learning which components among the embedding, positional encoding and readout layers is critical for success, and show the result is task-dependent. For example, decimal addition requires only the embedding layer to be learned, while modular addition also needs learned weights in the readout layer.

In their restricted setting, the authors find that embedding layers in all cases select a low dimensional subspace for downstream processing and this seems to be adequate to achieve perfection on some tasks.

For more complex problems (such as general language modelling) it appears that broader use of the transformer’s latent space is required, which can only be achieved effectively by training the internal weights.

It remains to be investigated how solutions for the restricted models relate to those in which all weights are learned and how training dynamics arrive at those solutions.

Algorithmic Capabilities of Random Transformers
NeurIPS 2023 Paper Reviews

Read paper reviews from NeurIPS 2023 from a number of our quantitative researchers and machine learning practitioners.

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The Road Less Scheduled

Aaron Defazio, Xingyu Alice Yang, Harsh Mehta, Konstantin Mishchenko, Ahmed Khaled, Ashok Cutkosky

The authors introduce a compelling new optimisation procedure that dispenses with any requirement to define a learning rate schedule or specify the number of training epochs in advance and needs no additional hyperparameters. Across a wide range of tasks their schedule-free approach matches or exceeds the performance of Adam with tuned cosine schedule and typically dominates it across the entire duration of training.

The procedure maintains three sequences (one of which can be reconstructed from the other two, hence requiring no additional space beyond standard momentum methods): the first tracks where to evaluate gradients, the second where the base optimiser update is performed and the third is a running average defining our best estimate so far. The authors demonstrate that the procedure can be viewed as a novel interpolation between two forms of averaging from the literature (neither of which in isolation gives results competitive with learned schedule training).

Most researchers use only the final iterate from their training runs, which in practice is found to perform best but conflicts with optimisation theory. By successfully deriving a strong optimisation algorithm that uses an average of iterates, the authors have finally reconciled theory and practice. There have been a number of optimisers over the past ten years touted as successors to Adam that have largely failed to fulfil their promise; this work looks among the strongest candidates yet to take the crown.

The Road Less Scheduled
Quantitative Research and Machine Learning

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Time Series in the Age of Large Models

This invited talk was one of the most entertaining and thought provoking of the conference, in which the speaker explored with refreshing scepticism the topic of foundation models for time series.

By digging into the specifics of certain standard data sets commonly used for model assessment, but where the target horizons lie far beyond what could plausibly be forecast (such as fine grained weather in a year’s time), he developed trivial baseline models able to outperform the latest complex architectures.

Such tasks can offer very limited guidance in assessing the merits of competing methods yet are routinely presented to demonstrate state of the art. It was a timely reminder as the field progresses that generic time series models need high quality and heterogeneous data for effective training and evaluation and that their utility is ultimately predicated on real world performance.

Of course, this is less of a problem at G-Research: our quants enjoy a huge abundance of diverse data and our forecasting problem, firmly grounded in reality, is among the most challenging – and most rewarding – anywhere on the planet!

Time Series in the Age of Large Models

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Discover the perspectives of Dustin, one of our Scientific Directors, on the following papers:

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ICML 2024: Paper Review #6

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Discover the perspectives of Hugh, one of our Scientific Directors, on the following papers:

  • Better by default: Strong pre-tuned MLPs and boosted trees on tabular data
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Discover the perspectives of Julian, one of our Quantitative Researchers, on the following papers:

  • Transformers Learn to Achieve Second-Order Convergence Rates for In-Context Linear Regression
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