Not surprising.  (01)
Ron
Mike Bennett wrote:
> Parts of this are already in hand.
>
> Mike
>
> Ron Wheeler wrote:
>
>> OTOH, A US law that says that
>> - banks and publicly traded companies can not offer or purchase a new 
>> financial product that is not described in terms of the US Treasury's 
>> ontology for Financial Instruments
>> - each transaction must be properly recorded with the government using 
>> the same ontology and
>> - each institution must report daily, its position in each instrument,
>> will go a long way to getting the financial sector to adopt ontology.
>>
>> To encourage accuracy, the law should also insist that the ontological 
>> description of the instrument takes precedence over written natural 
>> language contracts.
>>
>> This would have saved 700ドル billion in year (2008) and may be required, 
>> ultimately, to restore trust between financial institutions.
>>
>> Right now, no one knows what anyone owns or owes and they have no way to 
>> evaluate what each contract, that their friend holds, means in terms of 
>> the friend's financial position.
>> The financial instruments are too numerous and too complex to evaluate.
>> There needs to be a way to evaluate the thousands or even millions of 
>> contracts and financial instruments in real time to decide if your 
>> prospective partner institution is credit worthy or one step away from 
>> insolvency.
>>
>> There is a real problem. Can the collective intelligence here, figure 
>> out a solution?
>> It will probably take 18 months to get such a law written (another 500ドル 
>> billion will be spent propping up the banks and providing direct relief 
>> for small banks, businesses and individuals once the lawmakers figure 
>> out that no amount of cash is going to tell one large institution that 
>> it is OK to trade with another large one), so there is time to get a 
>> basic ontology started if the government decides to go this route.
>>
>>
>>
>> Ron
>>
>> Patrick Cassidy wrote:
>> 
>> 
>>> Don,
>>> I agree that initial adoption outside of the user community created by
>>> funding the initial project is likely to be slow, until some publicly
>>> testable interesting applications are developed. My best guess is that some
>>> degree of language understanding will the first application to pique
>>> interest. When it becomes clear that ontologies are useful locally, and
>>> even more useful to enable semantic interoperability, I would expect an
>>> accelerating pace of adoption, helped by utilities, books on the topic,
>>> university IT departments starting to teach the technique, etc.
>>>
>>> I don't know how long all this will take, but I do feel confident that by
>>> not directly creating an FO with a wide user community, the achievement of
>>> semantic interoperability will be a lot slower.
>>>
>>> Pat
>>> 
>>> Patrick Cassidy
>>> MICRA, Inc.
>>> 908-561-3416
>>> cell: 908-565-4053
>>> cassidy@xxxxxxxxx
>>>
>>>
>>> 
>>> 
>>> 
>>>> -----Original Message-----
>>>> From: ontolog-forum-bounces@xxxxxxxxxxxxxxxx [mailto:ontolog-forum-
>>>> bounces@xxxxxxxxxxxxxxxx] On Behalf Of Conklin, Don
>>>> Sent: Wednesday, February 11, 2009 3:07 PM
>>>> To: [ontolog-forum]
>>>> Subject: Re: [ontolog-forum] standard ontology
>>>>
>>>> Commercial organizations do not typically look much beyond the next
>>>> fiscal quarter. The FO would have to offer immediate financial benefit
>>>> to gain funding support. Aside from the various objections to the FO,
>>>> even if one were to appear, its adoption would proceed at a glacial
>>>> pace. This is because the legions of ontology developers don't yet
>>>> exist
>>>> to apply the technology to the domains the corporations work in
>>>> (biomedical and certain government orgs excepted). Also, the supporting
>>>> applications and products are not known or trusted by the commercial
>>>> world. (Let's not quibble about some vendors that claim semantic
>>>> capabilities.) No one, especially corporations, are eager to step away
>>>> from millions already invested in COTS solutions that work today. The
>>>> large figures of savings quoted in earlier emails boil down to much
>>>> smaller figures for individual companies. Show my company how the FO
>>>> will save them millions in the next two-three quarters without adverse
>>>> impact and they might express interest.
>>>>
>>>> Don Conklin
>>>> Lockheed Martin, ISGS-Defense
>>>> Virginia Beach, VA
>>>> 1+757-675-5947
>>>>
>>>> -----Original Message-----
>>>> From: ontolog-forum-bounces@xxxxxxxxxxxxxxxx
>>>> [mailto:ontolog-forum-bounces@xxxxxxxxxxxxxxxx] On Behalf Of Patrick
>>>> Cassidy
>>>> Sent: Wednesday, February 11, 2009 2:12 PM
>>>> To: edbark@xxxxxxxx; '[ontolog-forum] '
>>>> Subject: Re: [ontolog-forum] standard ontology
>>>>
>>>> 
>>>> 
>>>> 
>>>>> Patrick Cassidy wrote:
>>>>>
>>>>> 
>>>>> 
>>>>> 
>>>>>> What do you think that people *would* use that would provide them
>>>>>> 
>>>>>> 
>>>>>> 
>>>>> accurate
>>>>> 
>>>>> 
>>>>> 
>>>>>> semantic interoperability?
>>>>>> 
>>>>>> 
>>>>>> 
>>>>> The ontology they developed.
>>>>>
>>>>> -Ed
>>>>>
>>>>> --
>>>>> Edward J. Barkmeyer Email: edbark@xxxxxxxx
>>>>> 
>>>>> 
>>>>> 
>>>> [[PC]] If that is the case, then you are asserting that the only people
>>>> who
>>>> would use a FO for interoperability are those who participate in its
>>>> development. I agree that that is what is true **at the present time**,
>>>> and
>>>> that is the reason that a user community can only be developed quickly
>>>> by
>>>> funding it. Over time, after publicly available applications
>>>> demonstrate
>>>> its utility, I would then expect it to attract users who did not
>>>> participate
>>>> in its development.
>>>>
>>>> Without funding an FO community, I expect we will get a widely used FO
>>>> eventually, but only after having wasted many billions in efficiency
>>>> loss,
>>>> and spent even more than 30M trying less functional alternatives.
>>>>
>>>> Pat
>>>>
>>>>
>>>> Patrick Cassidy
>>>> MICRA, Inc.
>>>> 908-561-3416
>>>> cell: 908-565-4053
>>>> cassidy@xxxxxxxxx
>>>>
>>>>
>>>>
>>>>
>>>>
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>  (02) 
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