{"id":64725,"date":"2025-09-23T16:44:01","date_gmt":"2025-09-23T08:44:01","guid":{"rendered":"https:\/\/swarma.org\/?p=64725"},"modified":"2025-09-23T16:44:01","modified_gmt":"2025-09-23T08:44:01","slug":"ai%e8%b5%8b%e8%83%bd%e9%a3%8e%e9%99%a9%e6%8a%95%e8%b5%84%ef%bc%9a%e5%88%a9%e7%94%a8%e5%8a%a8%e6%80%81%e7%bd%91%e7%bb%9c%e6%a8%a1%e5%9e%8b%e9%a2%84%e6%b5%8b%e5%88%9d%e5%88%9b%e4%bc%81%e4%b8%9a%e6%88%90","status":"publish","type":"post","link":"https:\/\/swarma.org\/?p=64725","title":{"rendered":"AI\u8d4b\u80fd\u98ce\u9669\u6295\u8d44\uff1a\u5229\u7528\u52a8\u6001\u7f51\u7edc\u6a21\u578b\u9884\u6d4b\u521d\u521b\u4f01\u4e1a\u6210\u8d25\u4e28\u9644\u4f5c\u8005\u5206\u4eab\u9884\u544a"},"content":{"rendered":"
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\u672c\u5468\u516d\uff089\u670827\u65e5\uff0914:00-16:00\u5c06\u7531\u8bba\u6587\u4f5c\u8005\u6d2a\u82cf\u5a77\u3001\u5f20\u6d77\u9e4f\u5728\u96c6\u667a\u4ff1\u4e50\u90e8\u4e3b\u529e\u7684\u91d1\u878d\u590d\u6742\u6027\u8bfb\u4e66\u4f1a<\/a>\u4e0a\u5206\u4eab\u6700\u65b0\u6210\u679c\uff0c\u4e3b\u9898\u4e3a\u201c\u57fa\u4e8e\u7f51\u7edc\u79d1\u5b66\u89c6\u89d2\u7684\u521b\u4e1a\u91d1\u878d\u7814\u7a76\uff1a\u7279\u5f81\u3001\u8d8b\u52bf\u4e0e\u5b9e\u8bc1\u63a2\u7d22\u201d\uff0c\u6b22\u8fce\u9884\u7ea6\u76f4\u64ad\uff01<\/span><\/span><\/strong><\/p>\n

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\u5173\u952e\u8bcd\uff1aAI\uff0c\u56fe\u795e\u7ecf\u7f51\u7edc\uff0c<\/span>\u521b\u4e1a\u7f51\u7edc<\/span><\/strong><\/strong><\/span><\/strong><\/p>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n

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\u6587\u7ae0\u9898\u76ee\uff1aHelp Me Screen: Analyzing and Predicting the Success of Start-ups in Dynamic Venture Capital Networks<\/span><\/p>\n

\u6587\u7ae0\u7f51\u5740\uff1ahttps:\/\/dl.acm.org\/doi\/10.1145\/3763001<\/span><\/p>\n<\/blockquote>\n


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\u98ce\u9669<\/span><\/span><\/span>\u6295\u8d44<\/span><\/span><\/span>\uff08v<\/span><\/span><\/span>enture capital, VC\uff09<\/span><\/span><\/span>\u4e3a\u79d1\u6280\u521b\u65b0\u578b\u4f01\u4e1a\u7684\u53d1\u5c55\u63d0\u4f9b\u878d\u8d44\u652f\u6301\u3002<\/span><\/span><\/span>\u6839\u636e<\/span><\/span><\/span>Pitchboo<\/span><\/span><\/span>k<\/span><\/span><\/span>\u7684<\/span><\/span><\/span>\u6570\u636e<\/span><\/span><\/span>\u7edf\u8ba1\uff0c2<\/span><\/span><\/span>024<\/span><\/span><\/span>\u5e74\u5168\u7403\u98ce\u9669\u6295\u8d44\u603b\u91d1\u989d\u8fbe\u5230\u4e863<\/span><\/span><\/span>680<\/span><\/span><\/span>\u4ebf\u7f8e\u5143\u3002<\/span><\/span><\/span>\u5728\u7f8e\u56fd\uff0c<\/span><\/span><\/span>\u8fd1\u4e94\u5341\u5e74\u6210\u7acb\u7684\u4e0a\u5e02\u516c\u53f8\u4e2d\uff0c<\/span><\/span><\/span>\u6709\u4e00\u534a\u7684\u4f01\u4e1a\u66fe\u63a5\u53d7\u4e86<\/span><\/span><\/span>VC<\/span><\/span><\/span>\u7684<\/span><\/span><\/span>\u652f\u6301 <\/span><\/span><\/span>(<\/span><\/span><\/span>Gonarll<\/span><\/span><\/span> & <\/span><\/span><\/span>Strebulaev<\/span><\/span><\/span>, 2021)<\/span><\/span><\/span>\uff1b<\/span><\/span><\/span>\u5728\u4e2d\u56fd\u8fdb\u884c\u516c\u5f00\u80a1\u7968\u52df\u96c6<\/span> <\/span><\/span><\/span>(IPO) <\/span><\/span><\/span>\u7684\u516c\u53f8\u4e2d\uff0c\u6709\u8d85\u8fc7<\/span><\/span><\/span>30%<\/span><\/span><\/span>\u66fe\u83b7\u5f97<\/span><\/span><\/span>\u98ce\u9669\u6295\u8d44<\/span> <\/span><\/span><\/span>(<\/span><\/span><\/span>Huang & Tian, 20<\/span><\/span><\/span>20<\/span><\/span><\/span>)<\/span><\/span><\/span>\u3002\u7136\u800c\uff0c\u5373\u4fbf\u662f\u7ecf\u9a8c\u4e30\u5bcc\u7684\u521b\u4e1a\u6295\u8d44\u673a\u6784\uff0c\u4f9d\u7136\u96be\u4ee5\u51c6\u786e\u9884\u6d4b\u79d1\u6280\u521b\u65b0\u4f01\u4e1a\u7684\u6210\u529f\u3002<\/span><\/span><\/span>\u672c\u6587\u7684\u6570\u636e\u7edf\u8ba1\u663e\u793a\uff0c<\/span><\/span><\/span>\u5168\u7403<\/span><\/span><\/span>\u6240\u6709<\/span><\/span><\/span>\u57282<\/span><\/span><\/span>007<\/span><\/span><\/span>\u81f32<\/span><\/span><\/span>019<\/span><\/span><\/span>\u95f4<\/span><\/span><\/span>\u83b7\u5f97\u4e86\u81f3\u5c11\u4e00\u8f6e<\/span><\/span><\/span>\u98ce\u9669\u6295\u8d44<\/span><\/span><\/span>\u7684\u521d\u521b\u4f01\u4e1a\u4e2d\uff0c\u4ec5\u6709<\/span><\/span><\/span>1.88%<\/span><\/span><\/span>\u7684\u4f01\u4e1a\u6700\u7ec8\u5b9e\u73b0\u4e86<\/span><\/span><\/span>IPO<\/span><\/span><\/span>\uff0c<\/span><\/span><\/span>\u53e6<\/span><\/span><\/span>\u4ec5\u6709<\/span><\/span><\/span>13.54%<\/span><\/span><\/span>\u7684\u4f01\u4e1a\u88ab\u6536\u8d2d\u3002<\/span><\/span><\/span><\/span><\/section>\n

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\u9884\u6d4b\u79d1\u6280\u521b\u65b0\u578b\u4f01\u4e1a\u7684\u6210\u529f\u5b58\u5728\u8bf8\u591a\u6311\u6218\u3002<\/span><\/span><\/span>\u521d\u521b\u4f01\u4e1a\u7684<\/span><\/span><\/span>\u7ecf<\/span><\/span><\/span>\u8425\u5386\u53f2\u77ed\u3001\u7f3a\u4e4f<\/span><\/span><\/span>\u5b8c\u5584<\/span><\/span><\/span>\u7684\u8d22\u52a1\u4e0e\u8fd0\u8425\u6570\u636e\uff0c\u52a0\u4e4b<\/span><\/span><\/span>\u5176<\/span><\/span><\/span>\u6210\u957f\u8fed\u4ee3\u5feb\u3001\u5546\u4e1a\u6a21\u5f0f\u548c\u6218\u7565\u5e38\u5e38\u8c03\u6574\uff0c<\/span><\/span><\/span>\u4ece\u800c\u5bfc\u81f4<\/span><\/span><\/span>\u4f20\u7edf\u5206\u6790\u548c\u4f30\u503c\u6a21\u578b\u96be\u4ee5\u9002\u7528\u3002\u5f53\u524d\uff0c\u6295\u8d44\u673a\u6784\u5bf9\u8fd9\u7c7b\u4f01\u4e1a\u7684\u8bc4\u4f30\u591a\u4f9d\u8d56\u6295\u8d44\u8005\u4e2a\u4eba\u7ecf\u9a8c\u4e0e\u4e3b\u89c2\u5224\u65ad\uff0c\u56e0\u800c\u65b9\u6cd5\u7f3a\u4e4f\u7cfb\u7edf\u6027\uff0c\u51b3\u7b56\u4e5f\u5145\u6ee1\u4e0d\u786e\u5b9a\u6027<\/span><\/span><\/span>\u3002<\/span><\/span><\/span><\/span><\/section>\n

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\u57fa\u4e8e<\/span><\/span><\/span>\u6db5<\/span><\/span><\/span>\u76d640\u5e74\u7684\u5168\u7403VC\u6570\u636e\u96c6\uff0c<\/span><\/span><\/span>\u672c\u6587<\/span><\/span><\/span>\u5c06VC\u751f\u6001\u7cfb\u7edf\u52a8\u6001\u5efa\u6a21\u4e3a\u7531\u521d\u521b\u4f01\u4e1a\u548c\u4e2a\u4eba\u6784\u6210\u7684\u4e8c\u90e8\u7f51\u7edc\uff0c\u8003\u8651\u4e86\u5386\u53f2\u65f6\u671f\u7684\u65f6\u95f4\u4f9d\u8d56\u6027\u3001VC\u7f51\u7edc\u7684\u7ed3\u6784\u4fe1\u606f\u4ee5\u53ca\u8282\u70b9\u5c5e\u6027<\/span><\/span><\/span>\u3002<\/span><\/span><\/span>\u672c<\/span><\/span><\/span>\u6587\u5c06<\/span><\/span><\/span>\u8be5\u6a21\u578b<\/span><\/span><\/span>\u5e94\u7528\u4e8e\u7b5b\u9009\u8bc6\u522b\u5177\u6709\u6210\u529f\u6f5c\u529b\u7684<\/span><\/span><\/span>\u65e9<\/span><\/span><\/span>\u671f\u521d\u521b\u4f01\u4e1a\uff0c\u5176<\/span><\/span><\/span>\u9884\u6d4b<\/span><\/span><\/span>\u6210\u529f\u7387<\/span><\/span><\/span>\u662f\u4e13\u4e1a\u6295\u8d44\u8005<\/span><\/span><\/span>\u9009\u62e9<\/span><\/span><\/span>\u7684\u4e24\u500d\u3002<\/span><\/span><\/span><\/span><\/section>\n

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\u672c\u6587\u7684<\/span><\/span><\/span>\u6a21\u578b\u6784\u5efa<\/span><\/span><\/span>\u65b9\u6cd5<\/span><\/span><\/span>\u75315\u4e2a\u4e3b\u8981\u90e8\u5206\u7ec4\u6210\uff0c\u5305\u62ecVC\u6295\u8d44\u7f51\u7edc\u6784\u5efa\uff08\u56fe1<\/span><\/span><\/span>(a)\uff09<\/span><\/span><\/span>\u3001\u56fe\u81ea\u6ce8\u610f\u529b\u5b66\u4e60<\/span><\/span><\/span>\uff08\u56fe3\uff09<\/span><\/span><\/span>\u3001\u7ed3\u5408\u5fae\u8c03\u7684\u589e\u91cf\u56fe\u8868\u5f81\u5b66\u4e60<\/span><\/span><\/span>\uff08\u56fe1<\/span><\/span><\/span>(<\/span><\/span><\/span>b<\/span><\/span><\/span>)<\/span><\/span><\/span>\uff09<\/span><\/span><\/span>\u3001\u5e8f\u5217\u56fe\u8868\u5f81\u5b66\u4e60<\/span><\/span><\/span>\uff08\u56fe1<\/span><\/span><\/span>(<\/span><\/span><\/span>c<\/span><\/span><\/span>)<\/span><\/span><\/span>\uff09<\/span><\/span><\/span>\u548c\u6210\u529f\u9884\u6d4b<\/span><\/span><\/span>\uff08\u56fe1<\/span><\/span><\/span>(<\/span><\/span><\/span>d<\/span><\/span><\/span>)<\/span><\/span><\/span>\uff09<\/span><\/span><\/span>\u3002<\/span><\/span><\/span><\/span><\/section>\n

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\u672c\u6587<\/span><\/span><\/span>\u57fa\u4e8e<\/span><\/span><\/span>\u98ce\u9669\u6295\u8d44<\/span><\/span><\/span>\u4e2d\u7684\u4e30\u5bcc\u8282\u70b9\u548c\u8fde\u63a5\u5173\u7cfb\u6784\u5efa\u7f51\u7edc\u3002<\/span><\/span><\/span>\u672c\u6587\u7684\u5f02\u6784\u521b\u4e1a\u6295\u8d44\u7f51\u7edc\u662f<\/span><\/span><\/span>\u4e00\u7cfb\u5217<\/span><\/span><\/span>\u4e8c\u90e8\u56fe\uff0c\u56fe\u4e2d\u7684\u8282\u70b9\u6709\u4e24\u79cd\u7c7b\u578b<\/span><\/span><\/span>\uff1a<\/span><\/span><\/span>\u4e2a\u4eba<\/span><\/span><\/span>\uff08<\/span><\/span><\/span>\u5305\u62ec\u6295\u8d44\u4eba\u6216\u521b\u4e1a\u516c\u53f8\u56e2\u961f\u6210\u5458<\/span><\/span><\/span>\uff09<\/span>\u4ee5\u53ca<\/span><\/span><\/span>\u521b\u4e1a\u516c\u53f8\u3002<\/span><\/span><\/span>\u5982<\/span><\/span><\/span>\u56fe<\/span><\/span><\/span>2<\/span><\/span><\/span>\u63d0\u4f9b\u7684<\/span><\/span><\/span>\u793a\u4f8b<\/span><\/span><\/span>\u6240\u793a<\/span><\/span><\/span>\uff0c<\/span><\/span><\/span>\u8be5\u7f51\u7edc\u7684\u8fde\u63a5\u7531<\/span><\/span><\/span>\u4e2a\u4eba\u548c\u521b\u4e1a\u516c\u53f8\u4e4b\u95f4\u7531\u6295\u8d44\u3001<\/span><\/span><\/span>\u96c7\u4f63\/\u521b\u7acb<\/span><\/span><\/span>\u5173\u7cfb\u7ec4\u6210\u3002<\/span><\/span><\/span>\u521d\u59cb\u7f51\u7edc<\/span><\/span><\/span>\uff0c<\/span><\/span><\/span><\/span>G<\/span><\/span>0<\/span><\/span><\/sup>\uff0c<\/span><\/span><\/span>\u8003\u8651\u4e86<\/span><\/span><\/span>\u622a<\/span><\/span><\/span>\u6b62<\/span><\/span><\/span>\u81f3\u67d0\u4e00\u9884\u8bbe\u65f6\u95f4\u70b9\u4e4b\u524d\u7684\u6240\u6709\u6295\u8d44\u6d3b\u52a8\u3002\u6b64\u540e\uff0c\u7f51\u7edc\u4ee5\u589e\u91cf\u65b9\u5f0f\u9010\u6b65\u6269\u5c55\uff0c\u4ece\u800c\u80fd\u591f\u6355\u6349\u5230\u6295\u8d44\u683c\u5c40\u7684\u52a8\u6001\u53d8\u5316<\/span><\/span><\/span>\u3002<\/span><\/span><\/span><\/span><\/section>\n

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\u56fe<\/span><\/span><\/span>2<\/span><\/span><\/span>. <\/span><\/span><\/span>\u98ce\u6295<\/span><\/span><\/span>\u7f51\u7edc\u8fde\u63a5\u5173\u7cfb<\/span><\/span><\/span>\u7684<\/span><\/span><\/span><\/span>\u793a\u4f8b<\/span><\/span><\/span><\/span><\/section>\n

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\u672c\u6587<\/span><\/span><\/span>\u91c7\u7528\u81ea\u6ce8\u610f\u529b\u673a\u5236<\/span><\/span><\/span>\u5728\u5355\u4e2aVC\u6295\u8d44\u7f51\u7edc\u4e2d\u8fdb\u884c\u8282\u70b9\u5c42\u9762\u7684\u8868\u793a\u5b66\u4e60\uff0c\u4ee5\u65e0\u76d1\u7763\u65b9\u5f0f\u66f4\u65b0\u65b0\u8282\u70b9\u3001\u8fb9\u53ca\u5176\u90bb\u5c45\u7684\u56fe\u5d4c\u5165<\/span><\/span><\/span>\u3002<\/span><\/span><\/span>\u53d7\u81ea\u7136\u8bed\u8a00\u5904\u7406<\/span>\uff08NLP\uff09<\/span>\u5e94\u7528\u4e2d\u81ea\u6ce8\u610f\u529b\u673a\u5236\u6210\u529f\u7ecf\u9a8c\u7684\u542f\u53d1<\/span> (Ashish et al., 2017)<\/span>\uff0c<\/span><\/span><\/span>\u672c\u6587<\/span><\/span><\/span>\u8bbe\u8ba1\u4e86\u4e00\u79cd<\/span><\/span><\/span>\u56fe\u81ea\u6ce8\u610f\u529b\uff08Graph Self-at<\/span><\/span><\/span>t<\/span><\/span><\/span>ention, GST\uff09\u795e\u7ecf\u7f51\u7edc<\/span><\/span><\/span>\uff0c\u7528\u4e8e\u805a\u5408\u6295\u8d44\u8005\u548c<\/span><\/span><\/span>\u521d\u521b\u56e2\u961f<\/span><\/span><\/span>\u6210\u5458\u7684\u4fe1\u606f\uff0c\u4ece\u800c\u5728VC\u7f51\u7edc\u4e2d\u83b7\u5f97\u66f4\u4f18\u7684\u521d\u521b\u4f01\u4e1a\u8868\u793a\u3002\u4e0e\u5f3a\u8c03\u5168\u5c40\u7ed3\u6784\u805a\u5408\u7684\u56fe\u81ea\u6ce8\u610f\u529b\u6846\u67b6\u4e0d\u540c\uff0cGST \u66f4\u6ce8\u91cd\u5c40\u90e8\u8df3\u90bb\u57df<\/span> <\/span><\/span><\/span>(<\/span><\/span><\/span>n-hop neighborhood<\/span>)<\/span> <\/span><\/span><\/span>\u5173\u7cfb<\/span><\/span><\/span>\uff0c\u540c\u65f6\u51cf\u8f7b<\/span><\/span><\/span>\u4e86<\/span><\/span><\/span>\u5168\u5c40\u4fe1\u606f\u8fc7\u8f7d\u7684\u95ee\u9898\u3002\u8fd9\u4e00\u8bbe\u8ba1\u5728VC\u7f51\u7edc\u4e2d\u5c24\u4e3a\u5173\u952e\uff0c\u56e0\u4e3a\u76f4\u63a5\u8fde\u63a5\u5173\u7cfb\u5bf9\u9884\u6d4b\u521d\u521b\u4f01\u4e1a\u7684\u6210\u529f\u5177\u6709\u5f3a\u5927\u7684\u89e3\u91ca\u529b<\/span><\/span><\/span>\u3002<\/span><\/span><\/span><\/span><\/section>\n

<\/span><\/span><\/span><\/section>\n
<\/span><\/span><\/span><\/section>\n
\u56fe<\/span><\/span><\/span>3<\/span><\/span><\/span>. <\/span><\/span><\/span>\u56fe\u81ea\u6ce8\u610f\u529b\u5b66\u4e60<\/span><\/span><\/span><\/span>Graph self-attention learning<\/span><\/span><\/span><\/span><\/section>\n

<\/span><\/span><\/span><\/section>\n
\u5177\u4f53\u800c\u8a00\uff0cGST \u7684\u5de5\u4f5c\u65b9\u5f0f\u5982\u4e0b\u3002\u5047\u8bbe\u5728<\/span><\/span><\/span>(l-1<\/span><\/span>)\u6b21\u8fed\u4ee3\u4e2d\uff0c\u6240\u6709\u8282\u70b9\u7684\u5d4c\u5165\u5df2\u7ecf\u5b66\u4e60\u5b8c\u6bd5\uff0c\u8bb0\u4f5c<\/span><\/span><\/span>\"image.png\"<\/span>\u3002<\/span><\/span><\/span>\u5bf9\u4e8e\u6bcf\u6761\u8fb9<\/span><\/span><\/span><\/span>(s-d)<\/span><\/span>\uff0c\u672c\u6587\u8ba1<\/span><\/span><\/span>\u7b97\u6e90\u8282\u70b9<\/span><\/span><\/span><\/span>s<\/span><\/span>\u5bf9\u76ee\u6807\u8282\u70b9<\/span><\/span><\/span>t<\/span><\/span>\u7684\u91cd\u8981\u6027<\/span>\uff08\u5373\u6ce8\u610f\u529b\uff09<\/span>\u3002<\/span><\/span><\/span>\u672c\u6587<\/span><\/span><\/span>\u91c7\u7528<\/span><\/span><\/span><\/span>h<\/span><\/span>\u5934\u6ce8\u610f\u529b\u673a\u5236\uff0c\u5176\u4e2d\u6bcf\u4e2a\u6ce8\u610f\u529b\u5934\u7684\u503c\u5206\u522b\u8ba1\u7b97<\/span><\/span><\/span>\u3002<\/span><\/span><\/span>\u7b2c<\/span><\/span><\/span><\/span>i<\/span><\/span>\u5934\u7684\u6ce8\u610f\u529b\u503c<\/span><\/span><\/span>ATT<\/span><\/span>–<\/span><\/span>hea<\/span><\/span>d<\/span><\/span>i<\/span><\/span><\/sup>(<\/span><\/span>s,t<\/span><\/span>)<\/span><\/span>\u5982\u4e0b<\/span><\/span><\/span><\/section>\n

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<\/section>\n
\u5176\u4e2d<\/span><\/span><\/span>\"image.png\"<\/span><\/sub><\/span>\u548c<\/span><\/span><\/span>\"image.png\"<\/span><\/sub><\/span>\u4e3a\u53ef\u8bad\u7ec3\u7684\u53c2\u6570\uff0c<\/span><\/span><\/span>\u7528\u4e8e\u5c06\u76ee\u6807\u8282\u70b9\u548c\u6e90\u8282\u70b9\u6620\u5c04\u4e3a<\/span><\/span><\/span>\u67e5\u8be2<\/span><\/span><\/span>\u5411\u91cf\u548c<\/span><\/span><\/span>\u952e<\/span><\/span><\/span>\u5411\u91cf<\/span><\/span><\/span>\u3002<\/span><\/span><\/span>\u8fb9<\/span><\/span><\/span><\/span>(<\/span><\/span>s<\/span><\/span>–<\/span><\/span>t<\/span><\/span>)<\/span><\/span>\u7684\u6ce8\u610f\u529b\u503c<\/span><\/span><\/span>ATT<\/span><\/span>–<\/span><\/span>hea<\/span><\/span>d<\/span><\/span>i<\/span><\/span><\/sup>(s<\/span><\/span>,<\/span><\/span>t<\/span><\/span>)<\/span><\/span>\u5b9a\u4e49\u4e3a\u5b83\u4eec\u7684\u70b9\u79ef\u3002\u968f\u540e\uff0c\u901a\u8fc7<\/span><\/span><\/span>\u8fb9<\/span><\/span><\/span><\/span>(<\/span><\/span>s<\/span><\/span>–<\/span><\/span>t<\/span><\/span>)<\/span><\/span>\uff0c<\/span><\/span><\/span>\u8282\u70b9<\/span><\/span><\/span><\/span>s<\/span><\/span>\u4f20\u9012\u5230\u8282\u70b9<\/span><\/span><\/span>t<\/span><\/span>\u7684\u4fe1\u606f\u8868\u793a\u4e3a<\/span><\/span><\/span>\uff1a<\/span><\/span><\/span><\/span><\/section>\n

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\u5176\u4e2d<\/span><\/span><\/span>\"image.png\"<\/span><\/sub><\/span>\u662f\u4e00\u4e2a\u53ef\u8bad\u7ec3\u7684\u53c2\u6570<\/span><\/span>\uff0c\u7528\u4e8e\u5c06\u539f\u8282\u70b9\u6620\u5c04\u4e3a<\/span><\/span><\/span>\u503c<\/span><\/span><\/span>\u5411\u91cf<\/span><\/span><\/span>\uff0c\u800c\u53c2\u6570<\/span><\/span><\/span>\"image.png\"\"image.png\"<\/span><\/sub><\/span>\u7528\u4e8e\u805a\u5408\u6765\u81ea<\/span><\/span><\/span>h<\/span><\/span>\u4e2a\u6ce8\u610f\u529b\u5934\u7684<\/span><\/span><\/span>\u4fe1\u606f<\/span><\/span><\/span>\u3002<\/span><\/span><\/span>\u5728\u63a5\u6536\u5230\u6765\u81ea\u6240\u6709\u90bb\u5c45\u7684\u805a\u5408\u4fe1\u606f\u540e\uff0c\u5c06\u8282\u70b9<\/span><\/span><\/span><\/span>t<\/span><\/span>\u672c\u8eab\u4e0e\u5176\u90bb\u5c45\u7684\u4fe1\u606f\u8fdb\u884c\u62fc\u63a5\uff08\u2295\uff09\uff0c\u5176\u4e2d\u53ef\u8bad\u7ec3\u53c2\u6570\u4e3a<\/span><\/span>\"image.png\"<\/span><\/sub><\/span><\/span>\u3002<\/span><\/span><\/span>\u6700\u7ec8\u52a0\u5165\u6b8b\u5dee\u5c42\uff0c\u4ee5\u83b7\u5f97\u5728\u7b2c<\/span><\/span><\/span><\/span>l<\/span><\/span>\u6b21\u8fed\u4ee3\u65f6\u76ee\u6807\u8282\u70b9<\/span><\/span><\/span>t<\/span><\/span>\u7684\u5d4c\u5165\uff0c\u8bb0\u4e3a<\/span><\/span><\/span>H<\/span><\/span>l<\/span><\/span><\/sup>[t]<\/span><\/span>\u3002<\/span><\/span><\/span><\/section>\n
<\/span><\/section>\n

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\u672c\u6587<\/span><\/span><\/span>\u63d0\u51fa\u4e86\u4e00\u79cd\u5e26\u6709<\/span><\/span><\/span>\u5fae\u8c03\u7684\u8868<\/span><\/span><\/span>\u5f81<\/span><\/span><\/span>\u5b66\u4e60\u65b9\u6cd5<\/span><\/span><\/span>\uff0c\u5bf9\u4e0b\u6e38\u7684\u6210\u529f\u9884\u6d4b\u4efb\u52a1\u5177\u6709\u826f\u597d\u6548\u679c\u3002\u8fd9\u79cd\u589e\u91cf\u5f0f\u7b56\u7565\u80fd\u591f\u5728\u4e0d\u540c\u65f6\u95f4\u6bb5\u5185\u5b66\u4e60\u5230\u5904\u4e8e\u540c\u4e00\u7ef4\u5ea6\u7a7a\u95f4\u7684\u8868\u793a\uff0c\u4ece\u800c\u4fdd\u8bc1\u5176\u5728\u540e\u7eed\u5e94\u7528\u4e2d\u7684\u53ef\u6bd4\u6027\u548c\u7a33\u5065\u6027\u3002<\/span><\/span><\/span>\u672c\u6587<\/span><\/span><\/span>\u5c06\u8fd9\u4e00\u589e\u91cf<\/span><\/span><\/span>\u8868\u5f81<\/span><\/span><\/span>\u5b66\u4e60\u95ee\u9898<\/span><\/span><\/span>\u6784\u5efa<\/span><\/span><\/span>\u4e3a\u4e00\u4e2a\u6709\u76d1\u7763\u7684<\/span><\/span><\/span>\u8fde\u63a5<\/span><\/span><\/span>\u9884\u6d4b\/\u8282\u70b9\u5206\u7c7b\u4efb\u52a1\uff0c\u5177\u4f53\u5982\u4e0b<\/span><\/span><\/span>\uff1a<\/span><\/span><\/span>\uff081\uff09<\/span><\/span><\/span>\u4f7f\u7528GST\uff08\u8bb0\u4e3a GST-1\uff09\u6765\u83b7\u53d6<\/span><\/span><\/span><\/span>G<\/span><\/span>t<\/span><\/span><\/sup>\u4e2d\u65b0\u589e\u8282\u70b9\u7684\u8868\u793a\uff0c\u5e76\u66f4\u65b0<\/span><\/span><\/span>G<\/span><\/span>t-1<\/span><\/span><\/sup>\u65f6\u671f\u5df2\u6709\u8282\u70b9\u7684\u8868\u793a\uff0c<\/span><\/span><\/span>\u5373<\/span><\/span><\/span>:<\/span><\/span><\/span><\/span><\/span>R<\/span><\/span>t<\/span><\/span><\/sup>=GST-1<\/span><\/span>(<\/span><\/span>E<\/span><\/span>t-1<\/span><\/span><\/sup>)<\/span><\/span>; <\/span><\/span><\/span>\uff082\uff09<\/span><\/span><\/span>\u8fd9\u4e9b\u5b66\u4e60\u5f97\u5230\u7684\u5d4c\u5165<\/span><\/span><\/span><\/span>R<\/span><\/span>t<\/span><\/span><\/sup>\u53ef\u80fd\u5e76\u975e\u6700\u4f18\uff0c\u5c24\u5176\u662f\u5728\u65b0\u589e\u8282\u70b9\u7684\u60c5\u51b5\u4e0b\uff0c\u4ec5\u901a\u8fc7\u5c11\u91cf\u5c42\u7ea7\u7684\u90bb\u5c45\u805a\u5408\u6240\u5f97\u5230\u7684\u8868\u793a\u53ef\u80fd\u5b58\u5728\u4e0d<\/span><\/span><\/span>\u8db3\u3002<\/span><\/span><\/span>\u4e3a\u4e86\u4f18\u5316\u6240\u6709\u5d4c\u5165\uff0c<\/span><\/span><\/span>\u672c\u6587<\/span><\/span><\/span>\u8bbe\u8ba1\u4e86\u4e00\u79cd\u7ed3\u5408<\/span><\/span><\/span>\u8fde\u63a5<\/span><\/span><\/span>\u9884\u6d4b\u548c\u8282\u70b9\u5206\u7c7b\u4efb\u52a1\u7684\u4f18\u5316\u6d41\u7a0b<\/span><\/span><\/span>\u3002<\/span><\/span><\/span>\u5728<\/span><\/span><\/span>\u8fde\u63a5<\/span><\/span><\/span>\u9884\u6d4b\u4efb\u52a1\u4e2d\uff0c\u5c06\u6240\u6709\u65b0\u589e\u7684\u8fb9\u4f5c\u4e3a\u8bad\u7ec3\u96c6\u4e2d\u7684\u6b63\u6837\u672c\uff0c\u540c\u65f6<\/span><\/span><\/span>\u5728<\/span><\/span><\/span><\/span>G<\/span><\/span>t<\/span><\/span><\/sup>\u4e2d\u968f\u673a\u9009\u53d6<\/span><\/span><\/span>\u76f8\u540c\u6570\u91cf\u7684<\/span><\/span><\/span>\u4e0d\u5b9e\u9645<\/span><\/span><\/span>\u5b58\u5728<\/span><\/span><\/span>\u7684<\/span><\/span><\/span>\u8fb9\u4f5c\u4e3a\u8d1f\u6837\u672c\u3002\u5728\u8282\u70b9\u5206\u7c7b\u4efb\u52a1\u4e2d\uff0c\u6bcf\u4e2a\u8282\u70b9\u88ab\u6807\u8bb0\u4e3a\u201c\u521d\u521b\u4f01\u4e1a\u201d\u6216\u201c\u4e2a\u4eba\u201d\u4e24\u7c7b<\/span><\/span><\/span>\u4e4b\u4e00\u3002\u516c\u5f0f\u5982\u4e0b\uff1a<\/span><\/span><\/span><\/span><\/section>\n

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R<\/span><\/span>t<\/span><\/span><\/sup>[<\/span><\/span>*<\/span><\/span>]<\/span><\/span>\u662f\u8282\u70b9<\/span><\/span><\/span>*<\/span><\/span><\/span>\u7684\u8868\u793a\uff0c<\/span><\/span><\/span><\/span>De<\/span><\/span>c<\/span><\/span>LP<\/span><\/span><\/sup>(<\/span><\/span>u,v<\/span><\/span>)<\/span><\/span>\u9884\u6d4b<\/span><\/span><\/span>u,v<\/span><\/span>\u4e4b\u95f4\u662f\u5426\u5b58\u5728\u8fde\u63a5\u5173\u7cfb\uff0c<\/span><\/span><\/span>De<\/span><\/span>c<\/span><\/span>NC<\/span><\/span><\/sup>(<\/span><\/span>v<\/span><\/span>)<\/span><\/span>\u8bc6\u522b\u4e86\u8282\u70b9<\/span><\/span><\/span>v<\/span><\/span>\u7684\u7c7b\u578b\u3002<\/span><\/span><\/span>\u6574\u4f53\u7684\u635f\u5931\u51fd\u6570\u4e3a\uff1a<\/span><\/span><\/span><\/span><\/section>\n

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\u5176\u4e2d<\/span><\/span><\/span>\uff0c<\/span><\/span><\/span><\/span>L<\/span><\/span>LP<\/span><\/span><\/sup>\u548c<\/span><\/span><\/span>L<\/span><\/span>NC<\/span><\/span><\/sup>\u5206\u522b\u8868\u793a<\/span><\/span><\/span>\u8fde\u63a5<\/span><\/span><\/span>\u9884\u6d4b\u4e0e\u8282\u70b9\u5206\u7c7b\u7684\u4e8c\u5143\u4ea4\u53c9\u71b5\u635f\u5931\uff0c\u03b2\u7528\u4e8e\u5e73\u8861\u4e24\u8005\u7684\u8d21\u732e<\/span><\/span><\/span>\u3002<\/span><\/span><\/span><\/span><\/section>\n

<\/span><\/span><\/span><\/section>\n
\u5728\u83b7\u5f97\u6bcf\u4e2a\u65f6\u95f4\u6bb5\u7684\u56fe<\/span><\/span><\/span>\u8868\u5f81<\/span><\/span><\/span>\u4e4b\u540e\uff0c\u6211\u4eec\u8fdb\u4e00\u6b65\u6355\u6349\u8fd9\u4e9b\u65f6\u95f4\u6bb5\u4e4b\u95f4\u7684\u4f9d\u8d56\u5173\u7cfb\uff0c\u4ee5\u4fbf\u4e3a\u4e0b\u6e38\u5e94\u7528<\/span>\uff08\u5728\u672c\u6587\u60c5\u5883\u4e0b\u4e3a\u9884\u6d4b<\/span><\/span><\/span>\u6210\u529f<\/span><\/span><\/span>\uff09<\/span>\u751f\u6210\u66f4\u4f18\u7684\u521d\u521b\u4f01\u4e1a\u8868\u793a\u3002\u5bf9\u4e8e\u5728\u7b2c<\/span><\/span><\/span><\/span>t<\/span><\/span>\u4e2a<\/span><\/span><\/span>\u65f6\u95f4\u6bb5\u83b7\u5f97\u9996\u6b21\u6295\u8d44\u7684\u521d\u521b\u4f01\u4e1a\uff0c\u6211\u4eec\u5229\u7528\u5176\u524d<\/span><\/span><\/span><\/span>k<\/span><\/span>\u4e2a\u65f6\u95f4\u6bb5\u7684\u5168\u90e8\u4fe1\u606f<\/span>\uff08\u5728\u672c\u7814\u7a76\u4e2d\u8bbe\u5b9a<\/span><\/span><\/span>k<\/span><\/span>\u4e3a10\u4e2a\u65f6\u95f4\u6bb5\uff09<\/span>\uff0c\u6765\u9884\u6d4b\u8be5\u4f01\u4e1a\u662f\u5426\u4f1a\u53d6\u5f97\u6210\u529f<\/span><\/span><\/span>\u3002<\/span><\/span><\/span><\/span><\/section>\n

<\/span><\/span><\/span><\/section>\n
\u7ed9\u5b9a\u5728\u5404\u65f6\u95f4\u6bb5\u4e2d\u5b66\u4e60\u5f97\u5230\u7684\u5d4c<\/span><\/span><\/span>\u5165<\/span><\/span><\/span><\/span>E<\/span><\/span>(t-k)<\/span><\/span><\/sup>,<\/span><\/span><\/span><\/span>E<\/span><\/span>(t-k+1)<\/span><\/span><\/sup>,\u2026<\/span><\/span><\/span>,<\/span><\/span><\/span><\/span><\/span>E<\/span><\/span>(t)<\/span><\/span><\/sup>, <\/span><\/span><\/span>\u5e8f\u5217\u5316\u7684\u56fe\u8868<\/span><\/span><\/span>\u5f81<\/span><\/span><\/span>\u5b66\u4e60<\/span><\/span><\/span>\u53ef\u5199<\/span><\/span><\/span>\u4e3a<\/span><\/span><\/span><\/span><\/section>\n

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\"image.png\"<\/span><\/sub><\/span>\u8868\u793a\u4ece\u5386\u53f2\u5d4c\u5165\u4e2d\u5b66\u4e60\u5f97\u5230\u7684\u5e8f\u5217\u5316\u8868\u793a\uff0c\u5373<\/span><\/span><\/span>LSTM<\/span><\/span><\/span>\u7684\u6700\u540e\u4e00\u4e2a\u9690\u85cf\u5c42\u8f93\u51fa<\/span><\/span><\/span>\u3002<\/span><\/span><\/span><\/span><\/section>\n

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\u672c\u6587<\/span><\/span><\/span>\u5c06\u5bf9\u521d\u521b\u4f01\u4e1a\u6210\u529f\u7684\u9884\u6d4b<\/span><\/span><\/span>\u95ee\u9898<\/span><\/span><\/span>\u8bbe\u8ba1<\/span><\/span><\/span>\u4e3a\u4e00\u4e2a\u4e8c\u5143\u5206\u7c7b\u95ee\u9898\uff0c\u5176\u8f93\u5165\u5305\u62ec\u524d\u4e00\u6b65\u9aa4\u5b66\u4e60\u5f97\u5230\u7684\u8868\u793a<\/span><\/span>\"image.png\"<\/span><\/sub><\/span><\/span><\/span>\uff0c\u4ee5\u53ca\u8282\u70b9\u5c5e\u6027<\/span>\uff08\u5982\u6295\u8d44\u8005\u4eba\u53e3\u7edf\u8ba1\u4fe1\u606f\u3001\u884c\u4e1a\u9886\u57df\u7b49\uff09<\/span>\u3002\u4e0d\u540c\u4e8e\u76f4\u63a5\u5c06\u8fd9\u4e9b\u8f93\u5165\u9001\u5165\u4e09\u5c42\u591a\u5c42\u611f\u77e5\u673a<\/span>\uff08<\/span><\/span><\/span>Multilayer Perceptron<\/span><\/span><\/span>\uff0c<\/span><\/span><\/span>MLP\uff09<\/span>\uff0c<\/span><\/span><\/span>\u6211\u4eec\u9996\u5148\u5c06\u5176\u4e0eGST<\/span>\uff08\u8bb0\u4e3a GST-2\uff09<\/span>\u878d\u5408\uff0c\u7136\u540e\u5c06\u65b0\u7684\u8868\u793a\u8f93\u5165\u81f3 MLP\u3002MLP \u7684\u524d\u4e24\u5c42\u6fc0\u6d3b\u51fd\u6570\u91c7\u7528 tanh\uff0c\u6700\u540e\u4e00\u5c42\u91c7\u7528 sigmoid\u3002\u8bad\u7ec3\u96c6\u5728\u521d\u521b\u4f01\u4e1a\u5c42\u9762\u6784\u5efa\uff0c\u5176\u4e2d\u90e8\u5206\u521d\u521b\u4f01\u4e1a\u5728\u83b7\u5f97VC \u6295\u8d44<\/span><\/span><\/span>\u540e\u5b9e\u73b0\u4e86\u6210\u529f\u9000\u51fa<\/span>\uff08IPO\u6216\u8005\u88ab\u6536\u8d2d\uff09<\/span>\uff0c<\/span><\/span><\/span>\u800c\u53e6\u4e00\u4e9b\u5219\u672a\u80fd\u6210\u529f\u3002<\/span><\/span><\/span><\/span><\/section>\n

<\/span><\/section>\n

<\/span><\/span><\/section>\n

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<\/section>\n<\/section>\n<\/section>\n
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\u6570\u636e\u4e0e\u5b9e\u9a8c<\/span><\/strong><\/span><\/strong><\/strong><\/p>\n<\/section>\n

\n

<\/span><\/section>\n

<\/span><\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/h3>\n


<\/span><\/p>\n

\u672c\u6587\u4f7f\u7528\u5168\u7403\u91d1\u878d\u670d\u52a1\u63d0\u4f9b\u5546\u6668\u661f<\/span>\uff08Morningstar\uff09<\/span>\u65d7\u4e0b\u5b50\u516c\u53f8Pitch<\/span><\/span><\/span>b<\/span><\/span><\/span>ook\u6536\u96c6\u7684\u98ce\u9669\u6295\u8d44\u6570\u636e\u96c6\uff0c\u8be5\u6570\u636e\u6db5\u76d6\u4e861977\u5e74\u81f3\u4eca\u5168\u7403\u8303\u56f4\u5185\u7684\u521b\u4e1a\u6295\u8d44\u4ea4\u6613\uff0c\u5177\u6709\u5e7f\u6cdb\u7684\u5730\u7406\u548c\u884c\u4e1a\u8de8\u5ea6\u3002\u672c\u6587\u7684\u6570\u636e\u5305\u542b\u4ece1977\u5e74\u81f32019\u5e74\u95f4\u5168\u7403\u5171116,764\u5bb6\u521b\u4e1a\u516c\u53f8\u83b7\u5f97\u7684<\/span><\/span><\/span>187,346\u7b14\u6295\u8d44\uff0c\u5e76\u4e14\u6db5\u76d6\u4e86<\/span><\/span><\/span><\/span><\/span>244,267\u540d\u521b\u59cb\u4eba\u6216\u8054\u5408\u521b\u59cb\u4eba\u4ee5\u53ca62,424\u540d\u6295\u8d44\u4eba\u4e4b\u524d\u7684\u96c7\u4f63\u548c\u6295\u8d44\u5173\u7cfb\u4fe1\u606f\u3002<\/span><\/span><\/span><\/section>\n

<\/span><\/span><\/section>\n
\u56fe<\/span><\/span><\/span>4<\/span><\/span><\/span>(a)<\/span><\/span><\/span>\u663e\u793a\u4e86<\/span><\/span><\/span>\u6536\u5230<\/span><\/span><\/span>\u4e0d\u540c\u8f6e\u6b21<\/span><\/span><\/span>\u878d\u8d44<\/span><\/span><\/span>\u7684\u521b\u4e1a\u516c\u53f8\u6570\u91cf\u548c\u5b83\u4eec\u7684\u6210\u529f\u7387<\/span><\/span><\/span>\uff0c<\/span><\/span><\/span>\u672c\u6587\u5c06\u6210\u529f\u5b9a\u4e49\u4e3a\u521b\u4e1a\u4f01\u4e1a<\/span><\/span><\/span>\u5b8c\u6210<\/span><\/span><\/span>IPO<\/span><\/span><\/span>\u6216\u8005\u88ab\u6536\u8d2d<\/span><\/span><\/span>\u3002<\/span><\/span><\/span>\u83b7\u5f97\u7b2c\u4e00\u8f6e\u878d\u8d44\u7684\u516c\u53f8\u7684\u6210\u529f\u7387\u662f\u6700\u4f4e\u7684\uff0c\u4ec5\u4e3a15.71%\uff0c\u5f53\u521b\u4e1a\u516c\u53f8\u8fdb\u5165\u540e\u7eed\u878d\u8d44\u8f6e\u6b21\uff0c\u5176\u6210\u529f\u7387\u968f\u4e4b\u4e0a\u5347\u3002\u8fd9\u4e5f\u663e\u793a\u4e86\u5728\u9996\u8f6e\u878d\u8d44\u65f6\uff0c\u9884\u6d4b\u4f01\u4e1a\u6700\u7ec8\u6210\u529f\u9000\u51fa\u7684\u96be\u5ea6\u548c\u91cd\u8981\u4ef7\u503c\u3002\u56fe<\/span><\/span><\/span>4<\/span><\/span><\/span>(<\/span><\/span><\/span>b<\/span><\/span><\/span>)<\/span><\/span><\/span>\u548c<\/span><\/span><\/span>4<\/span><\/span><\/span>(<\/span><\/span><\/span>c<\/span><\/span><\/span>)<\/span><\/span><\/span>\u5206\u522b\u663e\u793a\u4e867\u4e2a\u4e00\u7ea7\u884c\u4e1a\u7c7b\u522b\u7684\u521b\u4e1a\u516c\u53f8\u5360\u6bd4\u548c\u884c\u4e1a\u5e73\u5747\u6210\u529f\u7387\u300293.6%\u7684\u521b\u4e1a\u516c\u53f8\u5c5e\u4e8eIT\u3001B2C\u3001B2B\u6216\u533b\u7597\u4fdd\u5065<\/span>\uff08\u56fe<\/span><\/span><\/span>4<\/span><\/span><\/span>(<\/span><\/span><\/span>b<\/span><\/span><\/span>)<\/span><\/span><\/span>\uff09<\/span>\uff0c\u76f8\u8f83\u4e8e\u5176\u5b83\u884c\u4e1a\uff0c\u533b\u7597\u4fdd\u5065\u548cIT\u884c\u4e1a\u7684\u521b\u4e1a\u516c\u53f8\u53d6\u5f97\u4e86\u8f83\u9ad8\u7684\u6210\u529f\u7387<\/span>\uff08\u56fe<\/span><\/span><\/span>4<\/span><\/span><\/span>(<\/span><\/span><\/span>c<\/span><\/span><\/span>)<\/span><\/span><\/span>\uff09<\/span>\u3002 <\/span><\/span><\/span><\/span><\/section>\n

<\/span><\/span><\/span><\/section>\n
<\/span><\/span><\/span><\/section>\n
\u56fe<\/span><\/span><\/span>4. <\/span><\/span><\/span>\u6570\u636e\u63cf\u8ff0<\/span><\/span><\/span><\/span><\/section>\n
(a) \u4e0d\u540c\u878d\u8d44\u8f6e\u6b21\u4e0b\u521d\u521b\u4f01\u4e1a\u7684\u6570\u91cf\u53ca\u5176\u5bf9\u5e94\u7684\u6210\u529f\u7387<\/span><\/span><\/span>\u53ca<\/span><\/span><\/span>\u6807\u51c6<\/span><\/span><\/span>\u8bef<\/span><\/span><\/span>\u5dee\uff1b\uff08<\/span><\/span><\/span>b\uff09<\/span><\/span><\/span>\u521d\u521b\u4f01\u4e1a\u5728\u4e0d\u540c\u884c\u4e1a\u9886\u57df\u7684\u5206\u5e03\uff0c\u5176\u4e2d FS \u8868\u793a\u91d1\u878d\u670d\u52a1\u4e1a\uff0cM&R \u8868\u793a\u6750\u6599\u4e0e\u8d44\u6e90<\/span><\/span><\/span>;<\/span><\/span><\/span>(c)<\/span><\/span><\/span><\/span><\/span>\u5404\u884c\u4e1a\u9886\u57df\u7684\u6210\u529f\u7387<\/span><\/span><\/span>\u53ca\u5176\u6807\u51c6<\/span><\/span><\/span>\u8bef<\/span><\/span><\/span><\/span>\u5dee<\/span><\/span><\/span><\/span><\/span><\/section>\n

<\/span><\/section>\n
<\/span>\u672c\u6587\u4f7f\u75282<\/span><\/span><\/span>007<\/span><\/span><\/span>\u5e74\u81f32<\/span><\/span><\/span>014<\/span><\/span><\/span>\u5e74\u5168\u7403\u521b\u4e1a\u6295\u8d44\u9996\u8f6e\u878d\u8d44\u7684\u6570\u636e\u6765\u8bad\u7ec3\u548c\u6d4b\u8bd5\u6a21\u578b\u3002<\/span><\/span><\/span>\u8bad\u7ec3\u96c6\u5305\u62ec\u4ece<\/span><\/span><\/span>2007<\/span><\/span><\/span>\u5e74<\/span><\/span><\/span>1<\/span><\/span><\/span>\u6708<\/span><\/span><\/span>1<\/span><\/span><\/span>\u65e5\u81f3<\/span><\/span><\/span>2008<\/span><\/span><\/span>\u5e74<\/span><\/span><\/span>9<\/span><\/span><\/span>\u6708<\/span><\/span><\/span>30<\/span><\/span><\/span>\u65e5\u671f\u95f4\u5168\u7403\u6240\u6709\u83b7\u5f97\u9996\u8f6e<\/span><\/span><\/span>\u98ce\u9669<\/span><\/span><\/span>\u6295\u8d44\u7684\u4f01\u4e1a\u3002<\/span><\/span><\/span>\u9274\u4e8e\u5b8c\u6574\u7684\u6570\u636e\u622a\u6b62\u81f32<\/span><\/span><\/span>019<\/span><\/span><\/span>\u5e74\uff0c\u4f7f\u7528\u8be5\u8bad\u7ec3\u96c6\uff0c\u5c06\u6709\u81f3\u5c11\u4e94\u5e74\u65f6\u95f4\u89c2\u6d4b\u83b7\u5f97\u9996\u8f6e\u878d\u8d44\u4f01\u4e1a\u7684\u9000\u51fa\u8868\u73b0\u3002<\/span><\/span><\/span>\u9a8c\u8bc1\u96c6\u5305\u62ec\u4ece<\/span><\/span><\/span>2008<\/span><\/span><\/span>\u5e74<\/span><\/span><\/span>10<\/span><\/span><\/span>\u6708<\/span><\/span><\/span>1<\/span><\/span><\/span>\u65e5\u81f3<\/span><\/span><\/span>2013<\/span><\/span><\/span>\u5e74<\/span><\/span><\/span>12<\/span><\/span><\/span>\u6708<\/span><\/span><\/span>31<\/span><\/span><\/span>\u65e5\u671f\u95f4\u83b7\u5f97\u9996\u8f6e<\/span><\/span><\/span>\u98ce\u9669<\/span><\/span><\/span>\u6295\u8d44\u7684\u4f01\u4e1a<\/span><\/span><\/span>\u3002\u9a8c\u8bc1\u96c6\u7684\u6570\u636e\u5c06\u7528\u4ee5\u66f4\u65b0\u6a21\u578b\u7684\u4e00\u7cfb\u5217\u8d85\u53c2\u6570\uff0c\u5305\u62ec\u7f51\u7edc\u5c42\u6570\u3001\u7f51\u7edc\u8282\u70b9\u6570\u3001\u8fed\u4ee3\u6b21\u6570\u3001\u5b66\u4e60\u7387\u7b49\u3002\u9a8c\u8bc1\u96c6\u7684\u9009\u62e9\u4f9d\u636e\uff0c\u662f\u80fd\u591f\u5145\u5206\u5229\u7528\u6570\u636e\uff0c\u5728\u6b63\u6837\u672c\u4e4b\u5916\uff0c\u83b7\u53d6\u4e00\u5b9a\u91cf\u8d1f\u6837\u672c\u5bf9\u6a21\u578b\u53c2\u6570\u8fdb\u884c\u66f4\u65b0\uff0c\u4ece\u800c\u66f4\u597d\u5730\u8bc4\u4f30\u6a21\u578b\u7684\u9884\u6d4b\u6548\u679c\u3002<\/span><\/span><\/span>\u672c\u6587\u7684<\/span><\/span><\/span>\u6d4b\u8bd5\u96c6\u5305\u62ec\u4ece<\/span><\/span><\/span>2014<\/span><\/span><\/span>\u5e74<\/span><\/span><\/span>1<\/span><\/span><\/span>\u6708<\/span><\/span><\/span>1<\/span><\/span><\/span>\u65e5\u5230<\/span><\/span><\/span>2014<\/span><\/span><\/span>\u5e74<\/span><\/span><\/span>12<\/span><\/span><\/span>\u6708<\/span><\/span><\/span>31<\/span><\/span><\/span>\u65e5\u6240\u6709\u83b7\u5f97\u9996\u8f6e\u878d\u8d44\u7684\u4f01\u4e1a\u6570\u636e<\/span><\/span><\/span>\uff0c\u5bf9\u4e8e\u5176\u4e2d\u7684\u6bcf\u4e2a\u89c2\u6d4b\u503c\uff0c\u90fd\u6709\u81f3\u5c11\u4e94\u5e74\u7684\u89c2\u6d4b\u7a97\u53e3\uff0c\u6807\u6ce8\u5176\u662f\u5426\u6210\u529f\u5b9e\u73b0\u9000\u51fa\u3002<\/span><\/span><\/span><\/span><\/section>\n

<\/span><\/span><\/span><\/section>\n
\u672c\u6587\u4f7f\u7528\u591a\u79cd\u5e38\u89c1\u6307\u6807\u6765\u8bc4\u4f30<\/span><\/span><\/span>\u9884\u6d4b<\/span><\/span><\/span>\u4efb\u52a1\u7684\u8868\u73b0\uff0c\u5305\u62ec<\/span><\/span><\/span>\u7cbe\u786e\u7387<\/span><\/span><\/span>\uff08<\/span><\/span><\/span>Precision<\/span><\/span><\/span>\uff09<\/span><\/span><\/span>\u3001<\/span><\/span><\/span>\u53ec\u56de\u7387<\/span><\/span><\/span>\uff08<\/span><\/span><\/span>Recall<\/span><\/span><\/span>\uff09<\/span><\/span><\/span>\u3001<\/span><\/span><\/span>F1 <\/span><\/span><\/span>\u503c<\/span><\/span><\/span>\u548c<\/span><\/span><\/span>AUC<\/span><\/span><\/span>\uff08\u66f2\u7ebf\u4e0b\u9762\u79ef\uff09<\/span><\/span><\/span>\u3002\u5176\u4e2d\uff0c<\/span><\/span><\/span>\u7cbe\u786e\u7387<\/span><\/span><\/span>\u6307\u5728\u6240\u6709\u88ab\u9884\u6d4b\u4e3a\u6210\u529f\u7684\u521d\u521b\u4f01\u4e1a\u4e2d\uff0c\u5b9e\u9645\u6210\u529f\u7684\u6bd4\u4f8b\uff1b\u76f8\u53cd\uff0c<\/span><\/span><\/span>\u53ec\u56de\u7387<\/span><\/span><\/span>\u8868\u793a\u5728\u6240\u6709\u771f\u5b9e\u6210\u529f\u7684\u521d\u521b\u4f01\u4e1a\u4e2d\uff0c\u6a21\u578b\u6b63\u786e\u9884\u6d4b\u5230\u7684\u6bd4\u4f8b\u3002\u4e3a\u4e86\u8d34\u8fd1\u73b0\u5b9e\u4e2d\u6295\u8d44\u8005\u9700\u8981\u4ece\u4f17\u591a\u521d\u521b\u4f01\u4e1a\u4e2d\u8fdb\u884c\u9009\u62e9\u7684\u60c5\u5883\uff0c<\/span><\/span><\/span>\u672c\u6587<\/span><\/span><\/span>\u91c7\u7528<\/span><\/span><\/span>Precision at K (AP@K)<\/span><\/span><\/span><\/span><\/span>\u4f5c\u4e3a\u4e3b\u8981\u6307\u6807\uff0c\u7528\u4ee5\u8861\u91cf\u5728\u6a21\u578b\u6309\u7f6e\u4fe1\u5ea6\u6392\u5e8f\u6240\u63a8\u8350\u7684\u524d<\/span><\/span><\/span> K <\/span><\/span><\/span>\u5bb6\u521d\u521b\u4f01\u4e1a\u4e2d\uff0c\u5b9e\u9645\u6210\u529f\u7684\u6bd4\u4f8b<\/span><\/span><\/span>\uff0c<\/span><\/span><\/span>\u8be5\u6307\u6807\u7684\u9009\u62e9\u4e0e\u5df2\u6709\u7684\u98ce\u9669\u6295\u8d44\u9884\u6d4b\u7814\u7a76\u4fdd\u6301\u4e00\u81f4\u3002\u8fdb\u4e00\u6b65\u5730\uff0c\u6211\u4eec\u901a\u8fc7\u5bf9\u4e00\u5e74\u4e2d\u6bcf\u6708\u9884\u6d4b\u5f97\u5230\u7684<\/span><\/span><\/span> 12 <\/span><\/span><\/span>\u4e2a<\/span><\/span><\/span> P@K <\/span><\/span><\/span>\u503c\u53d6\u5e73\u5747\uff0c\u6765\u8ba1\u7b97<\/span><\/span><\/span>AP@K<\/span><\/span><\/span>\u3002\u8f83\u9ad8\u7684<\/span><\/span><\/span> AP@K <\/span><\/span><\/span>\u503c\u610f\u5473\u7740\u8be5\u6a21\u578b\u53ef\u80fd\u6210\u4e3a\u4e00\u79cd\u6709\u6548\u7684\u6295\u8d44\u51b3\u7b56\u5de5\u5177\u3002<\/span><\/span><\/span><\/span><\/section>\n

<\/span><\/span><\/span><\/section>\n
\u9664\u4e86\u4e0a\u6587\u63d0\u5230\u7684\u6a21\u578b\uff0c<\/span><\/span><\/span>\u672c\u6587<\/span><\/span><\/span>\u540c\u65f6\u8bc4\u4f30\u6bd4\u8f83\u4e86\u591a\u4e2a<\/span><\/span><\/span>\u6a21\u578b\u7684\u9884\u6d4b\u8868\u73b0\u3002\u6240\u8003\u8651\u7684\u6a21\u578b\u5206\u4e3a\u4e24\u5927\u7c7b\uff1a<\/span><\/span><\/span>\u9759\u6001\u6a21\u578b\u548c\u52a8\u6001\u6a21\u578b<\/span><\/span><\/span>\u3002\u524d\u8005\u5305\u62ec\u57fa\u4e8e\u968f\u673a\u6e38\u8d70\u7684\u5d4c\u5165\u65b9\u6cd5<\/span>\uff08<\/span><\/span><\/span>node2vec<\/span><\/span><\/span>\uff09<\/span>\u3001\u5e7f\u6cdb\u4f7f\u7528\u7684\u56fe\u5377\u79ef\u795e\u7ecf\u7f51\u7edc\u6a21\u578b<\/span>\uff08<\/span><\/span><\/span>GCN<\/span><\/span><\/span>\uff09<\/span>\u3001\u57fa\u4e8e\u6ce8\u610f\u529b\u673a\u5236\u7684\u56fe\u795e\u7ecf\u7f51\u7edc<\/span>\uff08<\/span><\/span><\/span>GATs<\/span><\/span><\/span>\uff09<\/span>\u3001\u4f5c\u4e3a\u4f20\u7edf\u673a\u5668\u5b66\u4e60\u65b9\u6cd5\u7684\u68af\u5ea6\u63d0\u5347\u51b3\u7b56\u6811\u6a21\u578b<\/span>\uff08<\/span><\/span><\/span>GBDT<\/span><\/span><\/span>\uff09<\/span>\uff0c\u4ee5\u53ca\u4e00\u4e2a\u7528\u4e8e\u521d\u521b\u4f01\u4e1a\u6210\u529f\u9884\u6d4b\u7684\u6700\u65b0\u6a21\u578b<\/span>\uff08<\/span><\/span><\/span>SHGMNN<\/span><\/span><\/span>\uff09<\/span>\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u672c\u6587\u63d0\u51fa\u7684\u65b9\u6cd5\u4ee5\u53ca\u4e24\u79cd\u65f6\u5e8f\u56fe\u5377\u79ef\u7f51\u7edc\u6a21\u578b<\/span>\uff08<\/span><\/span><\/span>EvolveGCN<\/span><\/span><\/span><\/span><\/span>\u548c<\/span><\/span><\/span> MPNNLSTM<\/span><\/span><\/span>\uff09<\/span>\u88ab\u5f52\u7c7b\u4e3a\u52a8\u6001\u6a21\u578b\u3002\u4e3a\u4e86\u5bf9\u6bd4\uff0c\u8fd8\u6784\u5efa\u4e86\u4e00\u4e2a\u57fa\u51c6\u6a21\u578b<\/span>\uff08<\/span><\/span><\/span>Human Investors<\/span><\/span><\/span>\uff09<\/span>\uff0c\u8be5\u6a21\u578b\u6a21\u62df\u771f\u5b9e\u6295\u8d44\u8005\u5728\u6570\u636e\u96c6\u4e2d\u7684\u8868\u73b0\u3002<\/span><\/span><\/span>\u8fd9<\/span><\/span><\/span>8<\/span><\/span><\/span>\u79cd\u57fa\u51c6\u6a21\u578b\u7684<\/span><\/span><\/span>\u5177\u4f53\u4ecb\u7ecd<\/span><\/span><\/span>\u5982\u4e0b\uff1a<\/span><\/span><\/span><\/span><\/section>\n
Human Investors<\/span><\/span><\/span>\uff1a\u771f\u5b9e<\/span><\/span><\/span>VC<\/span><\/span><\/span>\u6295\u8d44\u4eba\u7684\u8868\u73b0\u3002\u5728\u6d4b\u8bd5\u96c6\u4e2d\u7684\u6240\u6709\u521d\u521b\u4f01\u4e1a\u4e2d\uff0c\u5982\u679c\u67d0\u5bb6\u521d\u521b\u4f01\u4e1a\u6839\u636e\u8bb0\u5f55\u83b7\u5f97\u4e86\u7b2c\u4e8c\u8f6e\u6295\u8d44<\/span>\uff08\u8868\u660e\u771f\u5b9e\u6295\u8d44\u8005\u7ee7\u7eed\u6295\u8d44\uff09<\/span>\uff0c\u90a3\u4e48<\/span><\/span><\/span> Human Investor <\/span><\/span><\/span>\u6a21\u62df\u5668\u5c06\u5224\u5b9a\u8be5\u4f01\u4e1a\u9884\u6d4b\u4e3a\u6210\u529f\u3002\u5728<\/span><\/span><\/span> Human Investors <\/span><\/span><\/span>\u9009\u62e9\u7684\u8fd9\u4e9b\u4f01\u4e1a\u4e2d\uff0c\u6700\u7ec8\u6709<\/span><\/span><\/span> 10.7% <\/span><\/span><\/span>\u6309\u7167\u6211\u4eec\u7684\u6807\u51c6\u53d6\u5f97\u4e86\u6210<\/span><\/span><\/span>\u529f<\/span><\/span><\/span>\uff08\u5373\u5b8c\u6210<\/span><\/span><\/span>IPO<\/span><\/span><\/span>\u6216\u8005\u88ab\u6536\u8d2d\uff09<\/span><\/span><\/span>\u3002<\/span><\/span><\/span><\/span><\/section>\n
GBDT<\/span><\/span><\/span>\uff1a\u68af\u5ea6\u63d0\u5347\u51b3\u7b56\u6811\u6a21\u578b\uff0c\u901a\u8fc7\u63d0\u5347\u65b9\u6cd5\u96c6\u6210\u591a\u4e2a\u51b3\u7b56\u6811\uff0c\u5728\u521d\u521b\u4f01\u4e1a\u9884\u6d4b\u4efb\u52a1\u4e2d\u88ab\u8bc1\u660e\u662f\u6709\u6548\u7684\u3002\u6211\u4eec\u4f7f\u7528<\/span><\/span><\/span><\/span><\/span>XGBoost<\/span><\/span><\/span>\u5b9e\u73b0\u8be5\u6a21\u578b\uff0c\u5e76\u91c7\u7528\u7ed3\u5408\u7f51\u7edc\u4fe1\u606f\u4e0e\u5c5e\u6027\u4fe1\u606f\u7684\u7279\u5f81\u5411\u91cf\u3002<\/span><\/span><\/span><\/span><\/section>\n
node2vec<\/span><\/span><\/span>\uff1a\u4e00\u79cd\u7ecf\u5178\u7684\u8282\u70b9\u5d4c\u5165\u65b9\u6cd5\uff0c\u5229\u7528\u4e8c\u9636\u968f\u673a\u6e38\u8d70\u6765\u5b66\u4e60\u8868\u793a\uff0c\u5e7f\u6cdb\u5e94\u7528\u4e8e\u8282\u70b9\u5206\u7c7b\u3001\u805a\u7c7b\u548c\u94fe\u8def\u9884\u6d4b\u7b49\u4efb\u52a1\u3002<\/span><\/span><\/span><\/span><\/section>\n
GCN<\/span><\/span><\/span>\uff1a\u4e00\u79cd\u9759\u6001\u56fe\u795e\u7ecf\u7f51\u7edc\uff0c\u901a\u8fc7\u56fe\u5377\u79ef\u805a\u5408\u90bb\u5c45\u4fe1\u606f\uff0c\u5728\u56fe\u7ed3\u6784\u6570\u636e\u96c6\u4e0a\u5b9e\u73b0\u4e86\u6700\u5148\u8fdb\u7684\u6027\u80fd\u3002<\/span><\/span><\/span><\/span><\/section>\n
GATs<\/span><\/span><\/span>\uff1a\u4e00\u79cd\u9759\u6001\u56fe\u795e\u7ecf\u7f51\u7edc\uff0c\u5229\u7528\u6ce8\u610f\u529b\u673a\u5236\u81ea\u9002\u5e94\u5730\u52a0\u6743\u5e76\u6574\u5408\u90bb\u5c45\u7279\u5f81\uff0c\u4ece\u800c\u7f13\u89e3\u4e86<\/span><\/span><\/span> GCN <\/span><\/span><\/span>\u56fa\u6709\u7684\u8fc7\u5ea6\u5e73\u6ed1\u95ee\u9898\u3002<\/span><\/span><\/span><\/span><\/section>\n
EvolveGCN<\/span><\/span><\/span>\uff1a\u4e00\u79cd\u52a8\u6001\u56fe\u795e\u7ecf\u7f51\u7edc\uff0c\u80fd\u591f\u968f\u65f6\u95f4\u52a8\u6001\u8c03\u6574<\/span><\/span><\/span> GCN <\/span><\/span><\/span>\u53c2\u6570\u4ee5\u6355\u6349\u56fe\u7ed3\u6784\u7684\u6f14\u5316\uff0c\u5728\u65f6\u5e8f\u56fe\u6570\u636e\u96c6\u4e0a\u7684\u8868\u73b0\u4f18\u4e8e\u9759\u6001\u6a21\u578b\u3002<\/span><\/span><\/span><\/span><\/section>\n
MPNNLSTM<\/span><\/span><\/span>\uff1a\u4e00\u79cd\u52a8\u6001\u56fe\u795e\u7ecf\u7f51\u7edc\uff0c\u91c7\u7528\u53cc\u5c42<\/span><\/span><\/span> LSTM <\/span><\/span><\/span>\u6765\u5efa\u6a21\u957f\u671f\u65f6\u5e8f\u4f9d\u8d56\uff0c\u80fd\u591f\u8de8\u65f6\u95f4\u6b65\u805a\u5408\u5386\u53f2\u4e0e\u5f53\u524d\u7684\u8282\u70b9\u7279\u5f81\uff0c\u5728\u8bb8\u591a\u65f6\u5e8f\u9884\u6d4b\u4efb\u52a1\u4e2d\u8868\u73b0\u51fa\u8272\u3002<\/span><\/span><\/span><\/span><\/section>\n
SHGMNN<\/span><\/span><\/span>\uff1a\u4e00\u79cd\u56fe\u795e\u7ecf\u7f51\u7edc\u6846\u67b6\uff0c\u901a\u8fc7\u7aef\u5230\u7aef\u8bad\u7ec3\u5b66\u4e60\u521d\u521b\u4f01\u4e1a\u8868\u793a\uff0c\u5e76\u901a\u8fc7<\/span><\/span><\/span> MAP <\/span><\/span><\/span>\u63a8\u65ad\u6765\u5efa\u6a21\u6807\u7b7e\u4f9d\u8d56\u3002\u4f7f\u7528\u9759\u6001\u6570\u636e\u65f6\uff0c\u5b83\u5728\u77ed\u671f\u7684<\/span><\/span><\/span> A <\/span><\/span><\/span>\u8f6e\u9884\u6d4b<\/span>\uff08\u901a\u5e38\u5728\u878d\u8d44\u540e<\/span><\/span><\/span>2<\/span><\/span><\/span>\u5e74\u5185\uff09<\/span>\u4e2d\u8fbe\u5230\u4e86\u5f53\u524d\u6700\u4f18\u6027\u80fd<\/span>\uff08<\/span><\/span><\/span>SOTA<\/span><\/span><\/span>\uff09<\/span>\uff0c\u800c\u8fd9\u4e0e\u6211\u4eec\u8bbe\u5b9a\u7684<\/span><\/span><\/span> 5 <\/span><\/span><\/span>\u5e74\u89c2\u5bdf\u7a97\u53e3\u6765\u9884\u6d4b\u6210\u529f\u6216\u5931\u8d25\u5f62\u6210\u5bf9\u6bd4\u3002<\/span><\/span><\/span><\/span><\/section>\n

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\u88681\u6bd4\u8f83<\/span><\/span><\/span>\u4e86\u4e0d\u540c\u65b9\u6cd5\u7684<\/span><\/span><\/span>\u9884\u6d4b\u8868\u73b0<\/span><\/span><\/span>\u3002Human Investors\u7684\u8868\u73b0\u4e0e\u4f20\u7edf\u7684\u673a\u5668\u5b66\u4e60\u65b9\u6cd5 GBDT \u5927\u4f53\u76f8\u5f53\uff0c\u4f46\u5728\u4e0e\u4e13\u95e8\u7528\u4e8e\u56fe\u5efa\u6a21\u7684\u65b9\u6cd5\u5bf9\u6bd4\u65f6\u5219\u5904\u4e8e\u52a3\u52bf\u3002<\/span><\/span><\/span>\u603b\u4f53\u800c\u8a00\uff0c<\/span><\/span><\/span>\u672c\u6587<\/span><\/span><\/span>\u7684\u6a21\u578b\u5728\u51e0\u4e4e\u6240\u6709\u6307\u6807\u4e0a\u90fd\u5904\u4e8e\u9886\u5148\u5730\u4f4d\u3002\u5c31\u5b9e\u8df5\u4e2d\u66f4\u4e3a\u91cd\u8981\u7684\u6307\u6807AP@\u800c\u8a00\uff0c<\/span><\/span><\/span>\u672c\u6587<\/span><\/span><\/span>\u7684\u6a21\u578b\u53d6\u5f97\u4e86\u6700\u9ad8\u5206<\/span><\/span><\/span>\uff0c\u5728 AP@10 \u4e0a\u7684\u8868\u73b0\u6bd4 Human Investors \u9ad8\u51fa 1.94 \u500d<\/span>\uff0820.8% \u5bf9\u6bd4 10.7%\uff09<\/span>\u3002\u5c3d\u7ba1\u5728\u53ec\u56de\u7387<\/span>\uff08Recall\uff09<\/span>\u4e0a\u4ec5\u6392\u5728 8 \u4e2a\u65b9\u6cd5\u4e2d\u7684\u7b2c 5 \u4f4d\uff0c\u4f46\u8fd9\u4e00\u4e0d\u8db3\u901a\u8fc7\u8f83\u9ad8\u7684\u7cbe\u786e\u7387<\/span>\uff08Precision\uff09<\/span>\u5f97\u4ee5\u5f25\u8865\uff0c\u4ece\u800c\u5b9e\u73b0\u4e86\u6700\u9ad8\u7684 F1 \u503c\u548c AUC<\/span><\/span><\/span>\u3002<\/span><\/span><\/span>\u6b64\u5916\uff0c\u5728\u73b0\u5b9e\u4e16\u754c\u4e2d\uff0c\u5bf9\u4e8e\u6295\u8d44\u8005\u800c\u8a00\uff0c<\/span><\/span><\/span>\u4ed6\u4eec<\/span><\/span><\/span>\u7684\u9996\u8981\u4efb\u52a1\u662f\u6295\u8d44\u4e8e\u5c11\u6570\u51e0\u4e2a\u9ad8\u7f6e\u4fe1\u5ea6\u7684\u9009\u62e9<\/span>\uff08\u4ee5 AP@ \u8861\u91cf\uff09<\/span>\uff0c\u800c\u4e0d\u662f\u627e\u51fa\u6240\u6709\u6700\u7ec8\u4f1a\u6210\u529f\u7684\u521d\u521b\u4f01\u4e1a<\/span>\uff08\u4ee5<\/span><\/span><\/span>\u53ec\u56de\u7387<\/span><\/span><\/span>\u8861\u91cf\uff09<\/span>\u3002\u6709\u8da3\u7684\u662f\uff0c\u5728\u5305\u62ec <\/span><\/span><\/span>EvolveGCN<\/span><\/span><\/span>\u3001MPNNLSTM\u3001SHGMNN \u4ee5\u53ca\u6211\u4eec\u7684\u65b9\u6cd5\u5728\u5185\u7684\u56fe\u65b9\u6cd5\u4e2d\uff0c<\/span><\/span><\/span>\u7cbe\u51c6\u7387<\/span><\/span><\/span>\u548c<\/span><\/span><\/span>\u53ec\u56de\u7387<\/span><\/span><\/span>\u4e4b\u95f4\u4f3c\u4e4e\u5b58\u5728\u4e00\u79cd\u6743\u8861\u3002\u4e0e<\/span><\/span><\/span>\u53ec\u56de\u7387<\/span><\/span><\/span>\u8868\u73b0\u6700\u4f73\u7684 GATs<\/span>\uff0851.7%\uff09<\/span>\u76f8\u6bd4\uff0c\u8fd9\u4e9b\u65b9\u6cd5\u7684<\/span><\/span><\/span>\u53ec\u56de\u7387<\/span><\/span><\/span>\u660e\u663e\u66f4\u4f4e\u2014\u2014<\/span><\/span><\/span>EvolveGCN<\/span><\/span><\/span> \u4e3a 44.1%\uff0cMPNNLSTM \u4e3a 37.9%\uff0cSHGMNN \u4e3a 23.2%\uff0c\u800c\u6211\u4eec\u7684\u6a21\u578b\u4e3a 28.6%\u3002\u7136\u800c\uff0c\u5b83\u4eec\u7684<\/span><\/span><\/span>\u7cbe\u51c6\u7387<\/span><\/span><\/span>\u5f97\u5206\u66f4\u9ad8\uff0c\u4ece\u800c\u5e26\u6765\u4e86\u66f4\u9ad8\u7684 F1 \u5206\u6570\u3002\u8fd9\u8868\u660e\uff0c<\/span><\/span><\/span>\u8fd9\u4e9b\u65b9\u6cd5\u5bf9\u56fe\u4fe1\u606f\u7684\u66f4<\/span><\/span><\/span>\u6709\u6548<\/span><\/span><\/span>\u5229\u7528\uff0c\u53ef\u80fd\u5e2e\u52a9\u5b83\u4eec\u5728\u9009\u62e9\u5177\u6709\u6210\u529f\u6f5c\u529b\u7684\u516c\u53f8\u65f6\uff0c\u505a\u51fa\u66f4\u4e3a\u8c28\u614e\u548c\u51c6\u786e\u7684\u51b3\u7b56<\/span><\/span><\/span>\u3002<\/span><\/span><\/span><\/span><\/section>\n
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\u88681<\/span><\/span><\/span>. <\/span><\/span><\/span>\u4e0d\u540c\u6a21\u578b\u7684\u9884\u6d4b\u8868\u73b0<\/span><\/span><\/span><\/span><\/section>\n

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\u8ba8\u8bba\u4e0e\u542f\u793a<\/span><\/strong><\/span><\/strong><\/strong><\/p>\n<\/section>\n

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<\/span><\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/h3>\n


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\u8868<\/span><\/span><\/span>2<\/span><\/span><\/span>\u62a5\u544a\u4e86<\/span><\/span><\/span>\u672c\u6587\u6240\u5f00\u53d1<\/span><\/span><\/span>\u7684\u6a21\u578b\u5bf9\u4e0d\u540c\u884c\u4e1a\u9886\u57df\u521b\u4e1a\u4f01\u4e1a\u7684\u9884\u6d4b\u7cbe\u51c6\u7387\u3002<\/span><\/span><\/span>\u5728<\/span><\/span><\/span>\u6240\u6709\u8fd9\u4e9b\u884c\u4e1a\u4e2d\uff0c\u6211\u4eec\u7684\u6a21\u578b\u90fd\u4f18\u4e8e Human Investors\uff0c\u751a\u81f3\u5728\u533b\u7597\u5065\u5eb7\u9886\u57df\u7684\u8868\u73b0\u662f Human Investors \u7684\u4e09\u500d\u3002\u8fdb\u4e00\u6b65\u5206\u6790\u7f51\u7edc\u53d1\u73b0<\/span><\/span><\/span>\uff0c<\/span><\/span><\/span>\u7cbe\u786e\u7387\u8f83\u9ad8\u7684\u884c\u4e1a\u901a\u5e38\u5177\u6709\u66f4\u597d\u7684\u8fde\u901a\u6027\uff0c\u5373\u5176\u66f4\u591a\u5173\u8054\u8282\u70b9\u843d\u5728\u6700\u5927\u8fde\u901a\u5206\u91cf\uff08LCC\uff09\u4e2d<\/span><\/span><\/span>\u3002\u6309\u7167\u8282\u70b9\u5728 LCC \u4e2d\u6bd4\u4f8b<\/span>\uff08% in LCC\uff09<\/span>\u6392\u5e8f\u7684\u524d\u4e09\u4e2a\u884c\u4e1a<\/span>\uff08IT\u3001\u533b\u7597\u5065\u5eb7\u548c B2C\uff09<\/span>\u7684\u7cbe\u786e\u7387\u660e\u663e\u9ad8\u4e8e\u6392\u540d\u9760\u540e\u7684\u4e24\u4e2a\u884c\u4e1a<\/span>\uff08\u91d1\u878d\u670d\u52a1\u548c B2B\uff09<\/span><\/span><\/span>\u3002<\/span><\/span><\/span><\/span><\/section>\n
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\u88682<\/span><\/span><\/span>. <\/span><\/span><\/span>\u6a21\u578b\u5728\u4e0d\u540c\u884c\u4e1a\u9886\u57df\u7684\u9884\u6d4b\u8868\u73b0<\/span><\/span><\/span><\/span><\/section>\n
\u6ce8\uff1a<\/span><\/span><\/span>IT: Information Technology, B2C: Consumer Products and Services<\/span><\/span><\/span>\uff0c<\/span><\/span><\/span>B2B: Business Products and Services<\/span><\/span><\/span><\/span><\/section>\n

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\u672c\u6587\u8fd8<\/span><\/span><\/span>\u5bf9\u521d\u521b\u4f01\u4e1a\u5206\u5e03\u5728<\/span><\/span><\/span> 86 <\/span><\/span><\/span>\u4e2a\u56fd\u5bb6\u4e2d\u7684\u524d<\/span><\/span><\/span> 5 <\/span><\/span><\/span>\u4e2a\u70ed\u95e8\u56fd\u5bb6\u7684\u9884\u6d4b\u7ed3\u679c\u8fdb\u884c\u4e86<\/span><\/span><\/span>\u5bf9\u6bd4<\/span><\/span><\/span>\uff0c\u6bcf\u4e2a\u56fd\u5bb6\u6bcf\u6708\u9009\u53d6<\/span><\/span><\/span> 5 <\/span><\/span><\/span>\u5bb6<\/span><\/span><\/span>\u6210\u529f\u53ef\u80fd\u6027\u6700\u9ad8\u7684<\/span><\/span><\/span>\u521d\u521b\u4f01\u4e1a\u3002\u5982\u8868<\/span><\/span><\/span>3<\/span><\/span><\/span>\u6240\u793a\uff0c<\/span><\/span><\/span>\u672c\u6587<\/span><\/span><\/span>\u7684\u6a21\u578b\u5728\u8fd9\u4e9b\u56fd\u5bb6\u7684\u8868\u73b0\u5747\u4f18\u4e8e<\/span><\/span><\/span> Human Investors<\/span><\/span><\/span>\uff0c\u7cbe\u786e\u7387\u5728<\/span><\/span><\/span> 10.0% <\/span><\/span><\/span>\u5230<\/span><\/span><\/span> 26.7% <\/span><\/span><\/span>\u4e4b\u95f4\u3002\u7f8e\u56fd\u5728<\/span><\/span><\/span> LCC <\/span><\/span><\/span>\u4e2d\u7684\u6bd4\u4f8b\u6700\u9ad8<\/span>\uff08<\/span><\/span><\/span>77.2%<\/span><\/span><\/span>\uff09<\/span>\uff0c\u5176\u7cbe\u786e\u7387\u4e5f\u6700\u9ad8\u3002\u5728\u8fd9\u4e9b\u56fd\u5bb6\u4e2d\uff0c\u7cbe\u786e\u7387\u603b\u4f53\u4e0a\u968f\u7740<\/span><\/span><\/span> LCC <\/span><\/span><\/span>\u5360\u6bd4\u7684\u63d0\u9ad8\u800c\u589e\u52a0<\/span>\uff08\u4e2d\u56fd\u9664\u5916\uff09<\/span>\u3002<\/span><\/span><\/span><\/span><\/section>\n
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\u8868<\/span><\/span><\/span>3. <\/span><\/span><\/span>\u6a21\u578b\u5728\u4e0d\u540c\u56fd\u5bb6\u521d\u521b\u4f01\u4e1a\u6210\u529f\u7387\u9884\u6d4b\u4e2d\u7684\u8868<\/span><\/span><\/span>\u73b0<\/span><\/span><\/span><\/span><\/section>\n

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\u672c\u6587<\/span><\/span><\/span>\u8fdb\u4e00\u6b65\u8ba8\u8bba<\/span><\/span><\/span>\u4e86\u6a21\u578b\u5224\u5b9a\u4e3a\u91cd\u8981\u7684\u4eba\u5458<\/span><\/span><\/span>\u7684<\/span><\/span><\/span>\u7279\u5f81<\/span><\/span><\/span>\u3002\u6211\u4eec\u4f7f\u7528\u56fe\u81ea\u6ce8\u610f\u529b\u503c\u6765\u8861\u91cf\u8282\u70b9\u7684\u91cd\u8981\u6027\u3002\u5728\u524d\u6587\u6d4b\u8bd5\u96c6\u4e2d\u7684\u6bcf\u5bb6\u521d\u521b\u4f01\u4e1a\u4e2d\uff0c\u6211\u4eec\u57fa\u4e8e<\/span><\/span><\/span> GST-2 <\/span><\/span><\/span>\u6a21\u578b\u6240\u751f\u6210\u7684\u4e0e\u8be5\u521d\u521b\u4f01\u4e1a\u76f8\u5173\u4eba\u5458\u7684\u81ea\u6ce8\u610f\u529b\u503c\uff0c\u8bc6\u522b\u51fa\u5176\u4e2d\u4e00\u4f4d\u6700\u91cd\u8981\u7684\u4eba\u5458\u3002\u968f\u540e\uff0c\u6211\u4eec\u5c06\u8fd9<\/span><\/span><\/span> 5,652 <\/span><\/span><\/span>\u4f4d<\/span><\/span><\/span>\u201c<\/span><\/span><\/span>\u91cd\u8981\u4eba\u5458<\/span><\/span><\/span>\u201d<\/span><\/span><\/span>\u7684\u7279\u5f81\u4e0e\u6d4b\u8bd5\u96c6\u4e2d\u5176\u4ed6\u4eba\u5458\u8fdb\u884c\u6bd4\u8f83\u3002<\/span><\/span><\/span><\/span><\/section>\n

<\/span><\/span><\/span><\/section>\n
\u5982\u8868<\/span><\/span><\/span>4<\/span><\/span><\/span>\u6240\u793a\uff0c\u91cd\u8981\u4eba\u5458\u5f80\u5f80\u62e5\u6709\u66f4\u9ad8\u7684\u6559\u80b2\u80cc\u666f\u3002\u5728\u8fd9\u4e9b\u91cd\u8981\u4eba\u5458\u4e2d\uff0c<\/span><\/span><\/span>66.1% <\/span><\/span><\/span>\u62e5\u6709\u5b66\u58eb\u53ca\u4ee5\u4e0a\u5b66\u4f4d\uff0c\u800c\u5176\u4ed6\u4eba\u5458\u8fd9\u4e00\u6bd4\u4f8b\u4e3a<\/span><\/span><\/span> 38.6%<\/span><\/span><\/span>\u3002\u5176\u4e2d\uff0c<\/span><\/span><\/span>45.0% <\/span><\/span><\/span>\u7684\u91cd\u8981\u4eba\u5458\u62e5\u6709\u7855\u58eb\u6216\u535a\u58eb\u5b66\u4f4d\uff0c\u800c\u5176\u4ed6\u4eba\u5458\u4e2d\u8fd9\u4e00\u6bd4\u4f8b\u4ec5\u4e3a<\/span><\/span><\/span> 32.6%<\/span><\/span><\/span>\u3002\u8fd9\u8868\u660e\u5b66\u672f\u8bad\u7ec3\u5bf9\u4e8e<\/span><\/span><\/span> VC <\/span><\/span><\/span>\u6295\u8d44\u7ed3\u679c\u5177\u6709\u4ef7\u503c\uff0c\u5c3d\u7ba1\u6211\u4eec\u65e0\u6cd5\u5b8c\u5168\u533a\u5206\u83b7\u53d6\u9ad8\u7b49\u5b66\u4f4d\u7684\u6b63\u5411\u6548\u5e94\u4e0e\u6559\u80b2\u5728\u7b5b\u9009\u5177\u6709<\/span><\/span><\/span>\u8f83\u5f3a<\/span><\/span><\/span>\u80fd\u529b\u4eba\u7fa4\u4e0a\u7684<\/span><\/span><\/span>\u9009\u62e9\u6548\u5e94<\/span><\/span><\/span>\u3002<\/span><\/span><\/span><\/span><\/section>\n
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\u88684<\/span><\/span><\/span>. <\/span><\/span><\/span>\u6d4b\u8bd5\u96c6\u4e2d<\/span><\/span><\/span>\u201c<\/span><\/span><\/span>\u91cd\u8981\u4eba\u7269<\/span><\/span><\/span>\u201d<\/span><\/span><\/span>\u7684\u5b66\u5386\u5206\u5e03\u53ca\u5176\u4ed6\u4eba\u5458\u7684\u5360\u6bd4\u60c5\u51b5<\/span><\/span><\/span><\/span><\/section>\n

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\u6b64\u5916\uff0c\u6211\u4eec\u8fd8\u53d1\u73b0\u91cd\u8981\u4eba\u5458\u5728\u7f51\u7edc\u4e2d\u7684\u5ea6\u4e2d\u5fc3\u6027\u66f4\u9ad8\u3002\u5177\u4f53\u800c\u8a00\uff0c\u8fd9\u4e9b\u91cd\u8981\u4eba\u5458\u7684\u5e73\u5747\u5ea6\u4e2d\u5fc3\u6027\u4e3a<\/span><\/span><\/span> 4.83<\/span><\/span><\/span>\uff0c\u800c\u6d4b\u8bd5\u96c6\u4e2d\u5176\u4ed6\u4eba\u5458\u7684\u5e73\u5747\u503c\u4e3a<\/span><\/span><\/span> 2.71<\/span><\/span><\/span>\u3002\u8fd9\u4e0e\u6587\u732e\u4e2d\u5f3a\u8c03\u7684<\/span><\/span><\/span>\u201c<\/span><\/span><\/span>\u793e\u4ea4\u7f51\u7edc\u5728\u521b\u4e1a\u6210\u529f\u4e2d\u626e\u6f14\u5173\u952e\u4f5c\u7528<\/span><\/span><\/span>\u201d<\/span><\/span><\/span>\u7684\u89c2\u70b9\u4e00\u81f4<\/span> <\/span><\/span><\/span>(Hochberg et al., 2007)<\/span><\/span><\/span>\u3002<\/span><\/span><\/span><\/span><\/section>\n

<\/span><\/span><\/section>\n
\u53c2\u8003\u6587\u732e<\/span><\/span><\/span><\/section>\n
Vaswani, A., <\/span><\/span><\/span>Shazeer<\/span><\/span><\/span>, N., Parmar, N., <\/span><\/span><\/span>Uszkoreit<\/span><\/span><\/span>, J., Jones, L., Gomez, A. N., … & <\/span><\/span><\/span>Polosukhin<\/span><\/span><\/span>, I. (2017). Attention is all you need.<\/span><\/span><\/span><\/span><\/span><\/span>Advances in Neural Information Processing Systems<\/span><\/span><\/span>,<\/span><\/span><\/span><\/span><\/span>30<\/span><\/span><\/span>.<\/span><\/span><\/span><\/span><\/section>\n
Gornall, W., & <\/span><\/span><\/span>Strebulaev<\/span><\/span><\/span>, I. A. (2021). The economic impact of venture capital: Evidence from public companies.<\/span><\/span><\/span><\/span><\/span>Available at SSRN 2681841<\/span><\/span><\/span>.<\/span><\/span><\/span><\/span><\/section>\n
Hochberg, Y. V., <\/span><\/span><\/span>Ljungqvist<\/span><\/span><\/span>, A., & Lu, Y. (2007). Whom you know matters: Venture capital networks and investment performance.<\/span><\/span><\/span><\/span><\/span>The journal of finance<\/span><\/span><\/span>,<\/span><\/span><\/span><\/span><\/span>62<\/span><\/span><\/span>(1), 251-301.<\/span><\/span><\/span><\/span><\/section>\n
Huang, Z., & Tian, X. (2020). China\u2019s venture capital market.<\/span><\/span><\/span><\/span>The Handbook of China\u2019s Financial System<\/span><\/span><\/span>, 383-418.<\/span><\/span><\/span><\/span><\/section>\n


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\u4f5c\u8005\u7b80\u4ecb<\/span><\/span><\/span><\/span><\/p>\n

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\u6d2a\u82cf\u5a77\uff0c\u73b0\u4efb<\/span><\/span><\/span>\u897f\u4ea4\u5229\u7269\u6d66\u5927\u5b66\u4ea7\u91d1\u878d\u5408\u5b66\u9662\u526f\u6559\u6388<\/span><\/span><\/span>\u3002\u6d2a\u82cf\u5a77\u535a\u58eb<\/span><\/span><\/span>\u62e5\u6709<\/span><\/span><\/span>\u7f8e\u56fd\u5fb7\u96f7\u8d5b\u5c14\u5927\u5b66\u7ecf\u6d4e\u5b66\u535a\u58eb\u5b66\u4f4d\uff0c\u548c\u5357\u4eac\u5927\u5b66\u91d1\u878d\u5b66\u5b66\u58eb\u5b66\u4f4d<\/span><\/span><\/span>\u3002<\/span><\/span><\/span>\u5979\u7684\u7814\u7a76<\/span><\/span><\/span>\u5174\u8da3\u5728<\/span><\/span><\/span>\u91d1\u878d\u4e0e\u9ad8\u79d1\u6280\u521b\u4e1a\u7684\u4ea4\u53c9\u9886\u57df\uff0c\u7279\u522b\u5173\u6ce8\u91d1\u878d<\/span><\/span><\/span>\u5e02\u573a<\/span><\/span><\/span>\u5728\u652f\u6301\u521b\u65b0\u578b\u521d\u521b\u4f01\u4e1a\u4ee5\u53ca\u5851\u9020\u4eba\u5de5\u667a\u80fd\u3001\u751f\u7269\u6280\u672f\u7b49\u65b0\u5174\u6280\u672f\u53d1\u5c55\u4e2d\u7684\u4f5c\u7528\u3002<\/span><\/span><\/span>\u5979\u7684\u7814\u7a76\u6210\u679c<\/span><\/span><\/span>\u5df2<\/span><\/span><\/span>\u53d1\u8868\u5728<\/span><\/span><\/span>\u300a<\/span><\/span><\/span>Journal of Financial <\/span><\/span><\/span>and <\/span><\/span><\/span>Quantitative Analysis<\/span><\/span><\/span>\u300b\u3001\u300a<\/span><\/span><\/span>Entrepreneursh<\/span><\/span><\/span>i<\/span><\/span><\/span>p Theory & Practice<\/span><\/span><\/span>\u300b\u7b49<\/span><\/span><\/span>\u56fd\u9645\u5b66\u672f<\/span><\/span><\/span>\u671f\u520a\u4e0a<\/span><\/span><\/span>\uff0c\u5e76\u83b7\u5f97\u56fd\u5bb6<\/span><\/span><\/span>\u81ea\u7136\u79d1\u5b66\u57fa\u91d1\u548c\u4e0a\u6d77\u5e02\u79d1\u59d4\u7684\u652f\u6301<\/span><\/span><\/span>\u3002<\/span><\/span><\/span>\u6559\u5b66\u6210\u679c<\/span><\/span><\/span>\u66fe<\/span><\/span><\/span>\u83b7\u5f97\u6559\u80b2\u90e8<\/span><\/span><\/span>\u3001<\/span><\/span><\/span>\u548c\u4e0a\u6d77\u5e02\u6559\u59d4\u7684\u5956\u52b1\u53ca\u6559\u80b2\u6559\u5b66\u6539\u9769\u9879\u76ee\u8d44\u52a9\u3002<\/span><\/span><\/span><\/span><\/section>\n
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\u5f20\u6d77\u9e4f\u535a\u58eb\u662f\u4e0a\u6d77\u79d1\u6280\u5927\u5b66\u52a9\u7406\u6559\u6388<\/span><\/span><\/span>\u3001\u7814\u7a76\u5458\u3001\u535a\u58eb\u751f\u5bfc\u5e08<\/span><\/span><\/span>\u3002\u4ed6\u7684\u7814\u7a76\u4e3b\u8981\u805a\u7126\u4e8e\u5927\u89c4\u6a21\u4eba\u7c7b\u884c\u4e3a\u6570\u636e\u7684\u6316\u6398\u4e0e\u5efa\u6a21\uff0c\u63a2\u7d22\u4eba\u7c7b<\/span><\/span><\/span>\u5728\u91d1\u878d<\/span><\/span><\/span>\u6295\u8d44\u3001<\/span><\/span><\/span>\u793e\u4ea4\u3001\u4eba\u6587\u6784\u5efa<\/span><\/span><\/span>\u7b49\u65b9\u9762<\/span><\/span><\/span>\u884c\u4e3a<\/span><\/span><\/span>\u7684<\/span><\/span><\/span>\u6a21\u5f0f\u4e0e\u5185\u5728\u673a\u5236<\/span><\/span><\/span>\u3002\u5f20\u535a\u58eb\u7684\u7814\u7a76\u6210\u679c\u53d1\u8868\u5728\u5305\u62ec<\/span><\/span><\/span>WWW<\/span><\/span><\/span>\u3001<\/span><\/span><\/span>WSDM<\/span><\/span><\/span>\u3001<\/span><\/span><\/span>TKDD<\/span><\/span><\/span>\u3001<\/span><\/span><\/span>ICWSM<\/span><\/span><\/span>\u3001<\/span><\/span><\/span>CIKM<\/span><\/span><\/span>\u3001<\/span><\/span><\/span>ICML<\/span><\/span><\/span>\u3001<\/span><\/span><\/span>ICLR<\/span><\/span><\/span>\u3001<\/span><\/span><\/span>NeurIPS<\/span><\/span><\/span>\u3001<\/span><\/span><\/span>AAAI<\/span><\/span><\/span>\u548c<\/span><\/span><\/span>IJCAI<\/span><\/span><\/span>\u5728\u5185\u7684<\/span><\/span><\/span>\u5b66\u672f\u4f1a\u8bae\u548c\u671f\u520a\u4e0a\uff0c\u76f8\u5173\u5de5\u4f5c\u4e5f\u66fe\u88ab\u300a\u65b0\u79d1\u5b66\u5bb6\u300b\uff08<\/span><\/span><\/span>New Scientist<\/span><\/span><\/span>\uff09\u6742\u5fd7<\/span><\/span><\/span>\u3001<\/span><\/span><\/span><\/span><\/span>ACM \u901a\u8baf<\/span><\/span><\/span>\uff08<\/span><\/span><\/span>Communications of the ACM<\/span><\/span><\/span>\uff09\u7f51\u7ad9<\/span><\/span><\/span>\u4ee5\u53ca\u9ebb\u7701\u7406\u5de5\u79d1\u6280\u8bc4\u8bba\u4e2d\u6587\u7248\uff08M<\/span><\/span><\/span>IT Tech Review<\/span><\/span><\/span>\uff09<\/span><\/span><\/span>\u62a5\u9053<\/span><\/span><\/span>\uff0c\u83b7\u5f97\u8682\u8681\u96c6\u56e2\u6700\u4f73\u8bba\u6587\u5956\u3001\u4e0a\u6d77\u5e02\u91d1\u878d\u5b66\u4f1a\u9752\u5e74\u8bfe\u9898\u4e00\u7b49\u5956\uff0c\u5e76\u5165\u9009\u300a2<\/span><\/span><\/span>024<\/span><\/span><\/span>\u4e0a\u6d77\u79d1\u6280\u5e74\u9274\u300b\u3002<\/span><\/span><\/span>\u4ed6\u4e8e 2014 \u5e74\u5728\u7f8e\u56fd\u5370\u7b2c\u5b89\u7eb3\u5927\u5b66\u83b7\u5f97\u8ba1\u7b97\u673a\u79d1\u5b66\u535a\u58eb\u5b66\u4f4d\uff1b2009 \u5e74\u83b7\u5357\u4eac\u5927\u5b66\u8f6f\u4ef6\u5de5\u7a0b\u5b66\u58eb\u5b66\u4f4d\u3002<\/span><\/span><\/span><\/span><\/section>\n

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\u91d1\u878d\u590d\u6742\u6027\u8bfb\u4e66\u4f1a<\/span><\/strong><\/strong><\/p>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n


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\u5f53\u524d\uff0c\u5168\u7403\u91d1\u878d\u7cfb\u7edf\u6b63\u906d\u53d7\u591a\u91cd\u4e0d\u786e\u5b9a\u6027\u51b2\u51fb\uff0c\u5982\u6c14\u5019\u98ce\u9669\u52a0\u5267\u3001\u4e2d\u7f8e\u8d38\u6613\u6469\u64e6\u53ca\u4fc4\u4e4c\u51b2\u7a81\u7b49\uff0c\u5bfc\u81f4\u91d1\u878d\u7cfb\u7edf\u590d\u6742\u6027\u4e0e\u4e0d\u786e\u5b9a\u6027\u8fbe\u5230\u524d\u6240\u672a\u6709\u7684\u9ad8\u5ea6\u3002\u5728\u91d1\u878d\u590d\u6742\u7cfb\u7edf\u4e2d\uff0c\u5e02\u573a\u3001\u673a\u6784\u53ca\u5f02\u8d28\u5229\u76ca\u76f8\u5173\u8005\u7684\u884c\u4e3a\u5448\u73b0\u975e\u7ebf\u6027\u4e0e\u7f51\u7edc\u5316\u7279\u5f81\uff0c\u5e38\u5f15\u53d1\u610f\u60f3\u4e0d\u5230\u7684\u7ed3\u679c\u3002<\/span><\/span><\/strong><\/p>\n

\u6b63\u5982\u201c\u77e5\u5df1\u77e5\u5f7c\uff0c\u767e\u6218\u4e0d\u6b86\u201d\u6240\u8a00\uff0c\u6211\u4eec\u9700\u7cfb\u7edf\u63a2\u7a76\u91d1\u878d\u590d\u6742\u7cfb\u7edf\u7684\u7406\u8bba\u57fa\u7840\u3001\u91cf\u5316\u8bc6\u522b\u65b9\u6cd5\u3001\u751f\u6210\u6f14\u5316\u673a\u5236\u53ca\u98ce\u9669\u6cbb\u7406\u8def\u5f84\uff0c\u4ee5\u66f4\u6709\u6548\u5730\u8ba4\u77e5\u3001\u5efa\u6a21\u4e0e\u51b3\u7b56\u3002\u4e3a\u6b64\uff0c\u96c6\u667a\u4ff1\u4e50\u90e8\u8054\u5408\u5317\u4eac\u5e08\u8303\u5927\u5b66\u674e\u7ea2\u521a\u6559\u6388\u3001\u7231\u5c14\u5170\u90fd\u67cf\u6797\u5723\u4e09\u4e00\u5b66\u9662Brain Lucey\u6559\u6388\u3001\u4e2d\u56fd\u5730\u8d28\u5927\u5b66\uff08\u5317\u4eac\uff09\u9ec4\u4e66\u57f9\u526f\u6559\u6388\u3001\u9996\u90fd\u5e08\u8303\u5927\u5b66\u738b\u6cfd\u8bb2\u5e08\u3001\u5317\u4eac\u6797\u4e1a\u5927\u5b66\u5e78\u5c0f\u4e91\u526f\u6559\u6388\u53ca\u5317\u4eac\u5316\u5de5\u5927\u5b66\u738b\u6b23\u96c5\u526f\u6559\u6388\uff0c\u5171\u540c\u53d1\u8d77<\/span>\u201c\u91d1\u878d\u590d\u6742\u6027\u201d\u4e3b\u9898\u8bfb\u4e66\u4f1a<\/span><\/a>\u3002\u8bfb\u4e66\u4f1a\u81ea2025\u5e748\u67084\u65e5\u8d77\uff0c\u6bcf\u5468\u4e0019:00-21:00\u4e3e\u884c\uff0c\u9884\u8ba1\u6301\u7eed10\u5468\u3002\u6b22\u8fce\u626b\u7801\u52a0\u5165\uff0c\u5171\u5efa\u201c\u91d1\u878d\u590d\u6742\u6027\u201d\u793e\u533a\u3002<\/span><\/span><\/strong><\/p>\n<\/section>\n<\/section>\n

\"\u56fe\u7247\"<\/span><\/a><\/strong><\/p>\n<\/section>\n

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\u8be6\u60c5\u8bf7\u89c1\uff1a<\/span>\u5982\u4f55\u6709\u6548\u5efa\u6a21\u91d1\u878d\u590d\u6742\u7cfb\u7edf\uff0c\u505a\u597d\u98ce\u9669\u7ba1\u7406\u4e0e\u51b3\u7b56\uff1f | \u91d1\u878d\u590d\u6742\u6027\u8bfb\u4e66\u4f1a\u53d1\u5e03<\/span><\/a><\/span><\/span><\/strong><\/section>\n<\/section>\n


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\u63a8\u8350\u9605\u8bfb<\/span><\/span><\/strong><\/strong><\/strong><\/section>\n
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1. \u4ece\u79cd\u5b50AI\u5230\u5947\u70b9\u2014\u2014\u4eba\u5de5\u667a\u80fd\u7684\u9012\u5f52\u5f0f\u81ea\u6211\u6539\u8fdb<\/span><\/a><\/span><\/strong>
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2. AI\u8981\u201c\u8bfb\u61c2\u201d\u4f60\uff1f\u62c6\u89e3\u767b\u4e0aNature\u6742\u5fd7\u7684\u201c\u534a\u4eba\u9a6c\u201dAI\u5fc3\u7406\u6a21\u578b<\/span><\/a><\/span><\/strong>
<\/span><\/strong><\/span><\/section>\n
3. AI \u7684\u601d\u7ef4\u5730\u56fe\uff1a\u63ed\u79d8\u5927\u6a21\u578b\u7684\u201c\u63a8\u7406\u56fe\u201d<\/span><\/a><\/span><\/strong><\/section>\n
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4. <\/span>\u6d8c\u73b0\u52a8\u529b\u5b66\u5982\u4f55\u7528\u6765\u5206\u6790\u590d\u6742\u7cfb\u7edf\uff1f | \u65b0\u8bfe\u4e0a\u7ebf<\/span><\/a><\/span><\/strong><\/span>
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<\/strong>5. <\/span><\/strong>\u96c6\u667a\u5b66\u56ed\u7cbe\u54c1\u8bfe\u7a0b\u514d\u8d39\u5f00\u653e\uff0c\u89e3\u9501\u7cfb\u7edf\u79d1\u5b66\u4e0e AI \u65b0\u4e16\u754c<\/span><\/a><\/span><\/strong><\/section>\n

6. \u9ad8\u8003\u5206\u6570\u53ea\u662f\u5f20\u5165\u573a\u5238\uff0c\u4f60\u7684\u79d1\u7814\u5192\u9669\u5728\u8fd9\u91cc\u542f\u822a\uff01<\/span><\/a><\/span><\/strong><\/p>\n

7. <\/span><\/span><\/strong><\/strong><\/span>\u91cd\u6574\u5316\u7fa4\u4e0e\u975e\u7ebf\u6027\u7269\u7406\uff0c\u5bfb\u627e\u590d\u6742\u7cfb\u7edf\u8de8\u5c3a\u5ea6\u7684\u5206\u6790\u65b9\u6cd5\u4e28\u65b0\u8bfe\u53d1\u5e03<\/a><\/span><\/strong><\/strong><\/strong><\/strong><\/span><\/p>\n


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\u70b9\u51fb\u201c\u9605\u8bfb\u539f\u6587\u201d\uff0c\u62a5\u540d\u8bfb\u4e66\u4f1a<\/span><\/span><\/section>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\u5bfc\u8bed \u8fd1\u65e5\uff0c\u7531\u4e0a\u6d77\u79d1\u6280\u5927\u5b66\u3001\u897f\u4ea4\u5229\u7269\u6d66\u5927\u5b66\u3001\u7f8e\u56fd\u9a6c\u91cc\u5170\u5927\u5b66\u3001\u9999\u6e2f\u57ce\u5e02\u5927\u5b66\u7b49\u673a\u6784\u7684\u5b66\u8005\u7ec4\u6210\u7684\u8de8\u5b66\u79d1\u56e2\u961f\uff0c\u5728\u56fd\u9645\u671f\u520a\u300aACM Transactions on Intelligent Systems and Technology\u300b\u4e0a\u53d1\u8868\u6587\u7ae0\uff0c\u57fa\u4e8e\u521b\u4e1a\u8005\u548c\u6295\u8d44\u4eba\u4e4b\u95f4\u7684\u8fde\u63a5\u5173\u7cfb\uff0c\u5f00\u53d1\u56fe\u795e\u7ecf\u7f51\u7edc\u6a21\u578b\uff0c\u7528\u4e8e\u9884\u6d4b\u521d…<\/p>\n","protected":false},"author":0,"featured_media":64701,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"special":[],"_links":{"self":[{"href":"https:\/\/swarma.org\/index.php?rest_route=\/wp\/v2\/posts\/64725"}],"collection":[{"href":"https:\/\/swarma.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swarma.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/swarma.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64725"}],"version-history":[{"count":0,"href":"https:\/\/swarma.org\/index.php?rest_route=\/wp\/v2\/posts\/64725\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swarma.org\/index.php?rest_route=\/wp\/v2\/media\/64701"}],"wp:attachment":[{"href":"https:\/\/swarma.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swarma.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swarma.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64725"},{"taxonomy":"special","embeddable":true,"href":"https:\/\/swarma.org\/index.php?rest_route=%2Fwp%2Fv2%2Fspecial&post=64725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}