Objective
The objective of the project is to expand the current state of the art ontology languages (OWL, RDF-S, RDF) and their support for automated reasoning by adding the time dimension to enable real time context aware information analysis. This technology will provide ontology based (semantic) information systems to venture beyond a static world and add the concepts of time and change.
To demonstrate and objectively assess the quality of the project result a semantic stock broker system will be developed based on a time determined ontology (TDO) of which the actual state depends on Reuters textual news messages and numerical market information. The system interprets these messages and adapts its dynamic ontology to better match the real world as described in the news. The potential general impact of a effective time determined ontology language and reasoner technology is fundamental for all aspects of the IST objectives. It will affect knowledge acquisition, organisation, personalisation, share and use of all types of ontology based knowledge. Implementation of the time dimension in formal knowledge representation is a prerequisite for effective semantic interoperability between information sources of any nature, content type or language. And additionally, combined with time aware reasoners and feature extraction tools, this will promote self describing content and responsive behaviour to user needs.
The potential strategic impact of the demonstration application in the stock exchange domain results from an improved return of investment by using an effective knowledge system support. By adopting the project results in the financial markets, this may add to the resolution of the low liquidity status of institutional investment institutes. This has a impact for millions of European citizens currently depending on equity based pension- and insurance products.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
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Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Coordinator
CHANIA
Greece
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.