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Large scale information extraction and integration \ninfrastructure for supporting financial decision making

Descripción del proyecto


Intelligent information management
How to focus on the relevant while making financial decisions in a world of information overkill? – Ask FIRST first

The FIRST project provides an information extraction, information integration and decision making infrastructure for information management in the financial domain. This area is extraordinarily faced with the challenges of extremely large, dynamic, and heterogeneous sources of information. The daily work and the business success of all decision makers in this industry depend on the availability of highly trustable, easily acquirable information.

Within the international financial industry not only individual market participants are negatively affected by information overflow and information asymmetries, but also financial flows and financial stability within entire industries of the global economy. This may also have severe consequences as has been observed in the current financial and economic crisis. Information is amongst the most valuable assets in the financial industry and reducing information asymmetries and increasing transparency by providing a fast, real-time, automatic and more comprehensive information base can help preventing false decisions.

The FIRST project provides a large-scale information extraction and integration infrastructure that supports non-ICT skilled end users for on-demand financial information access and execution of financial market analyses. Innovations in FIRST are: information extraction from unreliable semi-structured sources on a massive scale and in near real-time; automatic reuse of existing ontologies, large-scale ontology learning, and advanced decision models making use of semantic attributes.
The FIRST Decision Support Infrastructure enables end-users to configure, deploy, and execute financial decision models with associated information channels. The FIRST Ontology Infrastructure provides tools for semi-automatically creating and maintaining domain knowledge models. The FIRST Semantic Information Extraction System addresses noise, uncertainty, and semantic interpretation of information sources. The FIRST Information Integration Infrastructure consolidates information from very large heterogeneous information sources.
FIRST validates its innovations by three complementary use cases of market surveillance, investment management, and online retail banking and brokerage. The consortium comprises for each solution providers, data sources, and end users. FIRST implements a systematic strategy for scaling its methods and software infrastructure to the processing of massive amounts of information in real-time by three steps: (1) functional prototype, (2) scaling for non time-critical processing of massive historical data, and (3) scaling for massive live streams of structured feeds, textual news wire feeds, as well as semi-structured Web information in real-time.
The impact is ensured through an active open source strategy which (1) bases all basic software components in the fields of ontology learning, information extraction, information integration, and decision support on existing open source software and (2) releases FIRST software as open source software.

Ámbito científico

Programa(s)

Tema(s)

Convocatoria de propuestas

FP7-ICT-2009-5
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Régimen de financiación

CP - Collaborative project (generic)

Contacto del coordinador

Tomás PARIENTE LOBO Mr.

Coordinador

ATOS SPAIN SA
Aportación de la UE
€ 646 149,00
Dirección
CALLE DE ALBARRACIN 25
28037 Madrid
España

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Región
Comunidad de Madrid Comunidad de Madrid Madrid
Tipo de actividad
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Contacto administrativo
Tomás Pariente (Mr.)
Enlaces
Coste total
Sin datos

Participantes (8)

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Última actualización: 1 Agosto 2019

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Permalink: https://cordis.europa.eu/project/id/257928/es

European Union, 2024