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In the paper Moth-flame optimization algorithm: A novel nature-inspired heuristic paradigm (2015, published in Knowledge-Based Systems)

The test functions are divided to three groups: unimodal, multi-modal, and composite. The unimodal functions ($F1 - F7$) are suitable for benchmarking the exploitation of algorithms since they have one global optimum and no local optima. In contrary, multi-modal functions ($F8 - F13$) have a massive number of local optima and are helpful to examine exploration and local optima avoidance of algorithms

I imagine that exploration means it goes searching for something in unknown regions from a starting point. But exploitation would search more around the starting (or current point).

It is more or less that? What else differentiates both concepts?

nbro
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