Semantic ontologies and financial reporting: An application of the FIBO

This paper illustrates the application of a developed global fund reporting ontology (GFRO) for efficient financial reporting. The GFRO extends Financial Industry Business Ontology (FIBO). Existing reporting financial information systems lack the ability to integrate data from heterogenic sources and provide unified and consistent financial reports that will comply with regulations. This study reveals that by integrating the power of XSLT and Semantic Web technologies, operationalised through the development of a scalable working prototype, allows financial services industry experts to build more flexible and consistent reports. Our research shows that the consistency of financial reports can be dramatically improved by using an appropriate inference engine

Distributed data and ontologies: An integrated semantic web architecture enabling more efficient data management

Regulatory reporting across multiple jurisdictions is a significant cost for financial services organizations, due to a lack of systems integration (often with legacy systems) and no agreed industry data standards. This article describes the design and development of a novel ontology-based framework to illustrate how ontologies can interface with distributed data sources. The framework is then tested using a survey instrument and an integrated research model of user satisfaction and technology acceptance. A description is provided of extensions to an industry standard ontology, specifically the Financial Industry Business Ontology (FIBO), towards enabling greater data interchange. Our results reveal a significant reduction in manual processes, increase in data quality, and improved data aggregation by employing the framework. The research model reveals the range of factors that drive acceptance of the framework. Additional interview evidence reveals that the ontological framework also allows organizations to react to regulatory changes with much-improved timeframes and provides opportunities to test for data quality

An Ontology and Semantic Web Service for Quantum Chemistry Calculations.

The purpose of this article is to present an ontology, termed OntoCompChem, for quantum chemistry calculations as performed by the Gaussian quantum chemistry software, as well as a semantic web service named MolHub. The OntoCompChem ontology has been developed based on the semantics of concepts specified in the CompChem convention of Chemical Markup Language (CML) and by extending the Gainesville Core (GNVC) ontology. MolHub is developed in order to establish semantic interoperability between different tools used in quantum chemistry and thermochemistry calculations, and as such is integrated into the J-Park Simulator (JPS)-a multidomain interactive simulation platform and expert system. It uses the OntoCompChem ontology and implements a formal language based on propositional logic as a part of its query engine, which verifies satisfiability through reasoning. This paper also presents a NASA polynomial use-case scenario to demonstrate semantic interoperability between Gaussian and a tool for thermodynamic data calculations within MolHub.This project is supported by the National Research Foundation (NRF), Prime Minister’s Office, Singapore under its Campus for Research Excellence and Technological Enterprise (CREATE) programme, and by the Alexander von Humboldt foundation

Collaborative and Cross-Stakeholder Ontology Engineering

One of the major challenges in developing ontologies is to efficiently merge domain knowledge and expert knowledge to enable efficient and effective work on formal modelling of the domain in focus. This paper outlines the current state of developments in the Semantically Connected Semiconductor Supply Chains (SC3) project and its application in the BMBF-funded Cognitive Economy Intelligence Platform for Economic Ecosystem Resilience (CoyPu) project. We are using the SC3 Ontology Platform in CoyPu to promote effective information sharing among the various stakeholders in the development of the ontology. Thus, the application of SC3 Ontology Platform is used to ensure that the knowledge of non-knowledge workers (domain experts) and knowledge workers come together efficiently. This paper first introduces the CoyPu project and the current ontology development; then the SC3 Ontology Platform and its main components are presented. The paper concludes with the analysis of a first usability evaluation

FraTAct for Transforming A Nescient Process Activity Into an Intelligent Process Activity

Existing business process technologies support defining only nescient activities. Currently there is no solution that underpins transforming a nescient activity into intelligent activity. In this paper, we address this shortcoming of the state of the art. We offer a framework ‘FraTAct’ for transforming regulation intensive nescient activities of a financial service business process into intelligent activities. Financial service industries has been experiencing enormous challenges since the last decade. A recent financial crisis has unearthed various weaknesses in terms of administering the financial service industries. In order to prevent the future crisis, the regulators are constantly formulating new rules and also forcing the financial service industry to enact financial regulations in their financial service based application which automates financial operations. A financial service application underpins the financial service business process that contains activities. A nescient activity within a financial service process is prone to the risk of producing an inconsistent outcome that results in severe legal consequences for a financial institute e.g., a bank. In order to avoid these legal consequences, a financial institute should develop their financial service processes by composing activities that should be intelligent to understand and comply with financial regulations. Intelligent activities will produce outcomes that are consistent to financial regulations. It will reduce the possibility of financial regulation noncompliance in financial service process based application

Research data supporting "Universal Digital Twin – integration of national-scale climate data and energy systems"

TBoxes for OntoGasGrid and OntoClimateObservations. Please see README file for detail

Multiscale Cross-Domain Thermochemical Knowledge-Graph.

In this paper, we develop a set of software agents which improve a knowledge-graph containing thermodynamic data of chemical species by means of quantum chemical calculations and error-canceling balanced reactions. The knowledge-graph represents species-associated information by making use of the principles of linked data, as employed in the Semantic Web, where concepts correspond to vertices and relationships between the concepts correspond to edges of the graph. We implement this representation by means of ontologies, which formalize the definition of concepts and their relationships, as a critical step to achieve interoperability between heterogeneous data formats and software. The agents, which conduct quantum chemical calculations and derive the estimates of standard enthalpies of formation, update the knowledge-graph with newly obtained results, improving data values, and adding nodes and connections between them. A key distinguishing feature of our approach is that it extends an existing, general-purpose knowledge-graph, called J-Park Simulator (http://theworldavatar.com), and its ecosystem of autonomous agents, thus enabling seamless cross-domain applications in wider contexts. To this end, we demonstrate how quantum calculations can directly affect the atmospheric dispersion of pollutants in an industrial emission use-case

OntoPowSys: A power system ontology for cross domain interactions in an eco industrial park

International audienc