ConceptNet is a freely available commonsense knowledgebase and natural-language-processing toolkit which supports many practical textual-reasoning tasks over real-world documents right out-of-the-box (without additional statistical training) including
The W3C's Semantic Web project has been described in many ways over the last few years: an extension of the current web in which information is given well-defined meaning, a place where machines can analyze all the data on the Web, even a Web in which machine reasoning will be ubiquitous and devastatingly powerful. The problem with descriptions this general, however, is that they don't answer the obvious question: What is the Semantic Web good for?
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