The VP_s versus VNP separation conjecture

Let \textup{\textsf{VP_s}} denote the class of polynomial-size algebraic circuits with bounded degree, and let $\textup{\textsf{VNP}}$ denote Valiant's class of efficiently definable polynomial families. VP_s versus VNP conjecture.

$$\textup{\textsf{VP$_s$}} \neq \textup{\textsf{VNP}}.$$

This is a major conjecture in algebraic complexity theory, related to the classical $\textup{\textsf{P}} \neq \textup{\textsf{NP}}$ conjecture. Its equivalent formulation in terms of determinantal complexity appears immediately afterward in the source.