Semantic Technology Is Transforming



Architecture Infrastructure

5 Ways Semantic Technology Is Transforming the Financial Services Industry

By Marty Loughlin, Wall Street & Technology@insurancetech

Semantic search intuitively finds and connects relevant data across the enterprise. Innovation in this technology is helping organizations simplify and transform operations.

JULY 08, 2014After many years focused on reducing costs, financial service organizations are once again seeking to grow revenue. However, in the intervening years, the business environment has changed dramatically, and these organizations face significant new challenges on the journey back to growth.

 

First, we are in a new era of rapidly evolving regulatory oversight. Organizations must not only comply with an ever-growing list of compliance and reporting requirements, they must also testify to the quality of the data they report on. Second, savvy consumers, many of whom grew up in the age of user-friendly apps and instant data access, are demanding better service and products tailored to their individual needs.

 

Responding to these new challenges will require massive business and IT transformation. In particular, these organizations will need to change how they track, manage, and consume data. For many organizations, this data is not easily accessible — it is distributed across the organization, often trapped in local business units, applications, data warehouses, spreadsheets, and documents.

 

Traditional technologies are struggling to address this challenge and many believe a new approach is required. Some of the new big-data solutions do help. They are good at liberating and colocating data. However, they often struggle to make it usable. Creating a “data lake” where rigid structure is not required can result in yet another silo of unusable data where context, meaning, and sources are lost. Many organizations are turning to semantic technology for the answer.

 

Semantic technology has been around since the late 90s but has recently gained momentum as enterprise-quality applications have emerged that make it operationally viable. Briefly, semantic technology enables data to be described, managed, and consumed in an agile, standardized, human-friendly, and machine-readable way.

 

While search technology allows you to find data, semantic technology enables you to find it, understand it, link it, and take action on it. It is rapidly becoming a data “power tool” for financial services, offering agility and access to data not easily available before.

 

Following are five ways semantic technology is simplifying and transforming operations in the financial industry.

 

1. Selling more products and services
For most organizations, the easiest path to new revenue is to sell more to existing customers. To sell to your customers, you must first know them — who they are, what they buy, how they interact with you, and how they feel about your products and services.

 

Semantic technology unlocks and links silos of diverse customer data (accounts, transactions, interactions, and social media) to create a combined 360-degree view of customer interactions that can be used to make specific, individualized recommendations for the next best action. For example, mining call center transcripts for important life events like marriage or births and cross-referencing this information against the customer’s business interactions can be used to recommend new and relevant products.

Read the rest of this article on Wall Street & Technology

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iswc2014.semanticweb.org



  • ISWC 2014 is the premier international forum for the Semantic Web / Linked Data Community. Here, scientists, industry specialists, and practitioners meet to discuss the future of practical, scalable, user-friendly, and game changing solutions.

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iswc2014.semanticweb.org



  • ISWC 2014 is the premier international forum for the Semantic Web / Linked Data Community. Here, scientists, industry specialists, and practitioners meet to discuss the future of practical, scalable, user-friendly, and game changing solutions.

    • Registration will open soon! Check the website here.
    • For VISA information look at the information page.

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Consortium aims to improve M2M communications



CONSORTIUM SET TO BOOST IOT

Vendors agree on standards so machines can talk

8 July 2014 by Nick Booth -

Consortium set to boost IoTConsortium aims to improve M2M communications

Top technology vendors have teamed up to create a consortium aimed at creating the right conditions for the Internet of Things (IoT) to flourish, creating more demand for data centers and hosting services.

Atmel, Broadcom, Dell, Intel, Samsung and Wind River have jointly established a new industry consortium aiming to improve machine to machine (M2M) communications across form factors, vendors and operating systems.

The Open Interconnect Consortium (OIC) will define a common communications framework based on industry standard technologies for both wireless connection and managing the flow of information across the IoT devices.

The goal is to make the types of form factors, operating systems and service providers irrelevant when machines talk to each other so that the IoT industry develops faster.

Under the scheme member companies will use their software and engineering skills to define a protocol, enforce the use of open source software, and create a certification program.

The OIC said it will specify connectivity options using existing and emerging wireless standards, with the end goal being compatibility across the entire variety of systems.

The consortium takes in a range of industry verticals and smart home vendors, mobile phone makers and office systems developers will participate in the program.

Dell’s CTO for client solutions Glen Robson said the first OIC open source code will be designed for smart homes and office solutions but data centers and enterprises will be catered for.

“The explosion of the IoT is a transformation that will have a major impact and an open, secure and manageable connectivity framework is critical,” Robson said.

Intel’s VP for software and services Doug Fisher said the success of the IoT hinges on common frameworks based on open industry standards.

“Our goal in founding this new consortium is to solve the challenge of connectivity without tying the ecosystem to one company’s solution,” Fisher said.



Consortium aims to improve M2M communications



CONSORTIUM SET TO BOOST IOT

Vendors agree on standards so machines can talk

8 July 2014 by Nick Booth -

Consortium set to boost IoTConsortium aims to improve M2M communications

Top technology vendors have teamed up to create a consortium aimed at creating the right conditions for the Internet of Things (IoT) to flourish, creating more demand for data centers and hosting services.

Atmel, Broadcom, Dell, Intel, Samsung and Wind River have jointly established a new industry consortium aiming to improve machine to machine (M2M) communications across form factors, vendors and operating systems.

The Open Interconnect Consortium (OIC) will define a common communications framework based on industry standard technologies for both wireless connection and managing the flow of information across the IoT devices.

The goal is to make the types of form factors, operating systems and service providers irrelevant when machines talk to each other so that the IoT industry develops faster.

Under the scheme member companies will use their software and engineering skills to define a protocol, enforce the use of open source software, and create a certification program.

The OIC said it will specify connectivity options using existing and emerging wireless standards, with the end goal being compatibility across the entire variety of systems.

The consortium takes in a range of industry verticals and smart home vendors, mobile phone makers and office systems developers will participate in the program.

Dell’s CTO for client solutions Glen Robson said the first OIC open source code will be designed for smart homes and office solutions but data centers and enterprises will be catered for.

“The explosion of the IoT is a transformation that will have a major impact and an open, secure and manageable connectivity framework is critical,” Robson said.

Intel’s VP for software and services Doug Fisher said the success of the IoT hinges on common frameworks based on open industry standards.

“Our goal in founding this new consortium is to solve the challenge of connectivity without tying the ecosystem to one company’s solution,” Fisher said.



Consortium aims to improve M2M communications



CONSORTIUM SET TO BOOST IOT

Vendors agree on standards so machines can talk

8 July 2014 by Nick Booth -

Consortium set to boost IoTConsortium aims to improve M2M communications

Top technology vendors have teamed up to create a consortium aimed at creating the right conditions for the Internet of Things (IoT) to flourish, creating more demand for data centers and hosting services.

Atmel, Broadcom, Dell, Intel, Samsung and Wind River have jointly established a new industry consortium aiming to improve machine to machine (M2M) communications across form factors, vendors and operating systems.

The Open Interconnect Consortium (OIC) will define a common communications framework based on industry standard technologies for both wireless connection and managing the flow of information across the IoT devices.

The goal is to make the types of form factors, operating systems and service providers irrelevant when machines talk to each other so that the IoT industry develops faster.

Under the scheme member companies will use their software and engineering skills to define a protocol, enforce the use of open source software, and create a certification program.

The OIC said it will specify connectivity options using existing and emerging wireless standards, with the end goal being compatibility across the entire variety of systems.

The consortium takes in a range of industry verticals and smart home vendors, mobile phone makers and office systems developers will participate in the program.

Dell’s CTO for client solutions Glen Robson said the first OIC open source code will be designed for smart homes and office solutions but data centers and enterprises will be catered for.

“The explosion of the IoT is a transformation that will have a major impact and an open, secure and manageable connectivity framework is critical,” Robson said.

Intel’s VP for software and services Doug Fisher said the success of the IoT hinges on common frameworks based on open industry standards.

“Our goal in founding this new consortium is to solve the challenge of connectivity without tying the ecosystem to one company’s solution,” Fisher said.



Chrome Experiments



The WebGL Globe

The WebGL Globe is an open platform for geographic data visualization. We encourage you to copy the code, add your own data, and create your own.

If you do create your own globe, please share it with us. We will post our favorite links below.

Features:

  • Latitude / longitude data spikes
  • Color gradients, based on data value or type
  • Mouse wheel to zoom
  • More features are under development…

Created by the Google Data Arts Team.

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Chrome Experiments



The WebGL Globe

The WebGL Globe is an open platform for geographic data visualization. We encourage you to copy the code, add your own data, and create your own.

If you do create your own globe, please share it with us. We will post our favorite links below.

Features:

  • Latitude / longitude data spikes
  • Color gradients, based on data value or type
  • Mouse wheel to zoom
  • More features are under development…

Created by the Google Data Arts Team.

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Chrome Experiments



The WebGL Globe

The WebGL Globe is an open platform for geographic data visualization. We encourage you to copy the code, add your own data, and create your own.

If you do create your own globe, please share it with us. We will post our favorite links below.

Features:

  • Latitude / longitude data spikes
  • Color gradients, based on data value or type
  • Mouse wheel to zoom
  • More features are under development…

Created by the Google Data Arts Team.



Google’s future:



Google’s future: microphones in the ceiling and microchips in your head

 unique - Edited

Google’s ideas for a world of search without typing are taking outlandish shape

“I don’t have a microchip in my head – yet,” says the man charged with transforming Google’s relations with the technology giant’s human users.

But Scott Huffman does envisage a world in which Google microphones, embedded in the ceiling, listen to our conversations and interject verbal answers to whatever inquiry is posed.

Huffman, Google’s engineering director, leads a team tasked with making conversations with the search engine more reflective of the complex interactions people enjoy with each other.

The future of the $300 billion business depends upon automatically predicting the search needs of users and then presenting them with the data they need.

“Computing is becoming so inexpensive that it’s inevitable that there will be a ubiquity of connected devices around us, from our lapel to our car to Google Glass [a new optical head-mounted computer],” said Huffman during a visit to the UK from the company’s California base.

A microphone hanging from the ceiling, responding to verbal queries, would remove the need to whip out a phone to remind yourself what time tomorrow’s flight leaves. It could also make sure you don’t miss the flight altogether.

“Like a great personal assistant, it will interrupt you and say ‘ you’ve got to leave now’. It will bring you the information you want,” Mr Huffman said.

In fact, believes Mr Huffman, who has been working on refining search for 15 years, the clunky physical act of typing requests into Google’s search box will gradually recede almost to nothing.

The information could be relayed via “a wearable device, perhaps it might have a small screen, which you can only interact with through your voice and maybe touch but nothing else”.

For play as well as work

The microphone network would have leisure uses too.

“Imagine I can say to a microphone in the ceiling of the room ‘ Can you bring up a video of the highlights of yesterday’s Pittsburgh Steelers game and play it on a TV in the living room?’ and it works because the Cloud means everything is connected,” he says.

“I could ask my Google ‘assistant’ where we should have lunch, that serves French food and isn’t too expensive? Google will go ‘ Ok, we’ll go to that place’ and when I get in my car it should already be navigating to that restaurant. We’re really excited by the idea of multiple devices being able to talk to each other.”

Whether Google users want a microphone embedded in every ceiling is another matter after the company became enveloped in a crisis of trust following Edward Snowden’s revelations about the US Government’s National Security Agency’s clandestine electronic-surveillance programme PRISM.

On Monday, Google joined forces with fellow tech giants including Facebook, Apple and Yahoo! to call for sweeping changes to US surveillance laws and an international ban on bulk collection of data to help preserve the public’s “trust in the internet”.

“We take privacy and security very seriously,” Mr Huffman said. “ Our goal is to keep users’ information private and use it in a way that helps that user. When I ask Google for travel information during my trip it draws it out using my hotel confirmation email. So I’m trusting Google with that information and in exchange I’m getting that value.”

Google believes it can ultimately fulfil people’s data needs by sending results directly to microchips implanted into its user’s brains. Research has already begun with such chips to help disabled people steer their wheelchairs.

“If you think hard enough about certain words they can be picked up by sensors fairly easily. It’ll be interesting to see how that develops,” Mr Huffman said.

His current priority is utilising Google’s Knowledge Graph, an expanding store of information holding 18 billion facts on 60 million subjects, to deliver a more “human” search response. Voice-based search requests are more complex than the two-word searches typed into the search engine.

“My team is working very hard on the idea of a richer conversation with Google. We use a fairly complex linguistic structure in conversation that Google today doesn’t understand.

“But five years from now we will be having that kind of conversation with Google and it will just seem natural. Google will answer you the same way a person would answer.”

The engineer adds: “Google will understand context in conversation but it’s not an armchair psychiatrist. You can’t have a conversation about your mother. Google can’t talk to me about how I feel about things until it understands factual ‘things’. We’re just getting started understanding ‘things’ in the world.”

 



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