Abstract
Semantic Web is in the transition from vision and research to reality. In this early state, it is important to study the technical capabilities in the context of real-world applications, and how applications built using the Semantic Web technology meet the real market needs. Beyond push from research, it is the market pull and the ability of the technology to meet real business needs that is a key to ultimate success of any technology. In this paper, we discuss the market of Risk and Compliance which presents unique market opportunity combined with challenging technical requirements. We discuss how the Semantic Web technology with an ontology driven approach is especially well suited to support the demanding requirements of the applications in this market. We also discuss the capabilities of a commercial semantic technology that has origins in academic research, as it is utilized in a significant Risk and Compliance application deployed at large financial institutions. Core capabilities of this technology include the ability to develop and maintain focused but large populated ontologies, automatic semantic metadata extraction supported by disambiguation techniques, ability to process heterogeneous information and provide semantic integration combined with link identification and analysis through rule specification and execution, as well as organization and domain specific scoring and ranking. These semantic capabilities are coupled with enterprise software capabilities which are necessary for success of an emerging technology for meeting the needs of demanding enterprise customers.
Chapter PDF
References
B. Aleman-Meza, et al, An Ontological Approach to the Document Access Problem of Insider Threat, Proceedings of the IEEE Intl. Conference on Intelligence and Security Informatics (ISI-2005), May 19–20, 2005 (Springer LCNS v3495, Apr 2005, Pages 486–491). OpenURL
Kemafor Anyanwu and Amit Sheth, “The ρ Operator: Discovering and Ranking Associations on the Semantic Web,” The Twelfth International World Wide Web Conference, Budapest, Hungary, May 2003, pp. 690–699. http://lsdis.cs.uga.edu/library/download/AS03-WWW.pdf
David Avant, et al., Semantic technology applications for homeland security. In Proceedings of the Eleventh international Conference on information and Knowledge Management, McLean, Virginia, USA, November 04–09, 2002, ACM Press, pp. 611–613. http://doi.acm.org/10.1145/584792.584893
Martin Butler, Uncertain Compliance, Information Economics Journal, September 2004, pp. 7–9, http://www.stercomm.co.uk/download/sterling_commerce_IEJ_SEP04.pdf
Eric Miller, The Semantic Web is Here, keynote at the Semantic Technology Conference, San Francisco, CA, March 8, 2005 http://www.w3.org/2005/TALKS/0308-SEMWEB-EM.
Yvonne Lee, Apps Make Semantic Web a Reality, SDTimes, April 1, 2005 http://www.sdtimes.com/article/story-20050401-05.html
Larry Levy, Semagix AML Solution-Value of a risk approach, Financial Solutions International-Spring 2004. http://wwwt.semagix.com/documents/FIJArticle_FSI9.pdf
William Ruh, The Web of Meaning: The Business Value of the Semantic Web, talk at the W3C 10th Anniversary (W3C10) Symposium, December 1, 2004 http://www.w3.org/2004/Talks/w3c10-WebOfMeaning/Originals/Ruh.ppt
Amit Sheth, Clemens Bertram, David Avant, Brian Hammond, Krys Kochut, Yashodhan Warke, Managing Semantic Content for the Web, IEEE Internet Computing, July/August 2002, pp. 80–87
Amit Sheth, Semantic Metadata for Next-Gen Enterprise Information Integration, DM Review, July 2003.
Amit Sheth, From Semantic Search & Integration to Analytics, in Semantic Interoperability and Integration, Dagstuhl Seminar Proceedings 04391, Internationales Begegnungs-und Forschungszentrum (IBFI), Schloss Dagstuhl, Germany, January 1, 2005.
Amit Sheth, Semantic Technology in the Real World: Experiences and Lessons based on Enterprise Semantic Applications, http://www.semagix.com/documents/AmitSheth-SemTechConf-Mar082005.pdf
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2005 International Federation for Information Processing
About this paper
Cite this paper
Sheth, A. (2005). Enterprise Applications of Semantic Web: The Sweet Spot of Risk and Compliance. In: Bramer, M., Terziyan, V. (eds) Industrial Applications of Semantic Web. IASW 2005. IFIP — The International Federation for Information Processing, vol 188. Springer, Boston, MA. https://doi.org/10.1007/0-387-29248-9_3
Download citation
DOI: https://doi.org/10.1007/0-387-29248-9_3
Publisher Name: Springer, Boston, MA
Print ISBN: 978-0-387-28568-9
Online ISBN: 978-0-387-29248-9
eBook Packages: Computer ScienceComputer Science (R0)