Thursday 22 August 2019
FRACTALS / IMAGE GENERATORS
Michael Barnsley, an Associate Investigator supported by the Centre on an Industry Sabbatical grant, and John Hutchinson and Orjan Stenflo of the Australian National University have developed a methodology relating to a new class of fractals and a fractal generator capable of iteratively generating image data and fractal sequences. Obvious potential applications include graphics for low-bandwidth environments, and digital content for film or computer games. Other applications are to economic and biological modelling.
An Australian Provisional Patent (Application No. 2003905602) was filed in October 2003. A commercial relationship has been developed with the ACT Government, supported by a $25,000 grant from the ACT Government Knowledge Fund in order to pursue development and provide ?proof of concept? for commercialisation of the patent. The grant was awarded in December 2003. Venture capital funding is being actively pursued. Commercial developments in conjunction with the company Microforte are also being investigated.
FATGBM RISKY ASSET MODEL
A US Patent (6,643,631; Method and system for modeling financial markets and assets using fractal activity time) was granted to Chris Heyde in 2003 for the FATGBM risky asset model. The patent covers a method and apparatus for improved modelling of random or stochastic systems such as financial markets and instruments. It replaces the Black-Scholes model for the price of a risky asset by an improved model that uses a fractal activity time process instead of a conventional time parameter. The new model is incorporated into an algorithm for analyzing empirical data in order to determine whether an observed random process exhibits multifractal or single fractal behavior. If the algorithm finds multifractal or single fractal behavior, the new model can be used, thereby providing improved accuracy over the Black-Scholes model.
Chris has also had ongoing discussions on a selection of projects with Macquarie and Commonwealth Bank Quantitative Groups, Guy Carpenter (Reinsurance), the Department of Defence, the NSW Department of Health and IBM.
PATENTS AND MATHEMATICS WORKSHOP
In conjunction with Unisearch, Centre personnel at The University of NSW are planning a workshop on Patents and Mathematics in July 2004. The purpose is to bring together mathematicians who have patents, patent attorneys and practising mathematicians in order to explore how to turn abstract ideas into patents.
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