As Semantic Technology, in the form of W3C and OMG standards moves into its third decade, it is important to both look back and to look forward in terms of known knowns as to what is really working and what is not. The theory behind Geoffrey Moore's "Crossing the Chasm" is that it applies to discontinuous and disruptive innovations. In this case, the move from concrete like warehouses of relational data, to the ability to federate source data in real time to solve seemingly intractable problems. The chasm is crossed when the ideas of visionaries and the experiences of early adopters reach a positive critical mass. This is when there is both a sufficient body of knowledge and an experience base that causes the risk of staying with the old way to be greater than moving to the new way. This is when the pragmatists clamor to jump on the bandwagon of change.

In June of 2013, the Enterprise Data Management Council (EDMC) held a FIBO Technology Summit during the Semantic Technology & Business Conference (SemTechBiz) in San Francisco. How to unambiguously understand and automatically comply with regulatory rules was one of the four topics addressed by the world's leading semantic technology experts. It was decided at the Summit to focus on Regulation W (Reg-W) as a test case for the use of the Financial Industry Business Ontology (FIBO) in combination with advanced semantic rules (Rulelog/Flora-2) to automatically keep a bank in compliance as transactions were being processed. This presentation will showcase the resulting PoC including live demonstrations of available software.

Topics of Discussion:

• What other areas should OMG members and partners focus to demonstrate business value of standardized financial business data semantics?
   
• What role regulators can play to drive the prioritization of financial data standards and data innovation in financial industry?
   
• Now that FIBO has crossed the chasm, how do we get it to the tipping point?
   
• What are some of the most vexing technical problems that may stand in the way of innovations such as FIBO?

Doctor Richards will use his real world experiences in working with the department of Veterans Affairs and others to show why Healthcare is critically dependent on Semantic Technologies. While data science has many flavors and implementations based on differing standards and open or proprietary solutions, Healthcare ultimately comes down to the meaning of those few words that a Doctor or a Specialist puts down in a patients chart.

There is a lot going on in biomedicine in terms of standards and semantics (standard vocabularies for clinical documentation, semantic integration of terminology, common data elements for clinical research, clinical information models). NLM/NIH is involved in most of it, often in collaboration with other agencies (e.g., the Office of the National Coordinator for Health Information Technology (ONC)) and organizations (e.g., HL7, academia).

Mr. Grove will show that you can use semantics to offer your business logic using high level declarative languages such as RDFS and OWL. You can bring business logic out of the code base and take it out of the hands of the programmer and into the hands of the business experts. Additionally, Mr. Grove will speak about the work accomplished to support academic and NIH domain ontologies for synthetic biology and a cancer thesaurus.

Discussion will focus on:

• What other areas OMG members and partners should focus on to demonstrate business value of standardized healthcare data semantics?
   
• What role regulators can play to drive the prioritization of healthcare data standards and data innovation?
   
• EHR is still reaching for acceptance, how is it perceived amongst other Healthcare IT initiatives?
   
• What are some of the most vexing technical problems that may stand in the way of EHR?

Panel discussion lead by keynote/session leaders to summarize workshop results.