This week, CNN Money published a feature article on the semantic web, aka Web 3.0. Even if you're familiar with Web 3.0 and think it's a bunch of bunk, it's worth reading for four reasons:
- Web 3.0 can be pretty pie-in-the-sky stuff. But since this is CNN Money, the focus is on existing businesses and the products in development now, for real-world use. While developers' aren't sure how to make the semantic web a reality, you can use apply the ideas on a micro area. For instance, large pharmaceuticals are playing with applying a semantic layer to their drug discovery databases to aid scientists in seeing connections between drug molecules and diseases.
- Web 3.0 is supposed to help bring intelligence to the chaos that is today's web. This article offers an easy-to-follow explanation of what that means and how it would function.
- It looks at the various paths big tech companies and personalities -- such as Nova Spivack -- are exploring to build Web 3.0.
- The article offers other views on Web 3.0. Some feel that Web 2.0 technologies will be able to achieve semantic-web effects without the complex technology.
For practical applications, we're five to seven years out on using this technology, according to Spivack.
The estimate given in the article is that the market for Web 3.0 technologies and services is about $7 billion today. It'll be $50 billion by 2010. That alone makes it worth your attention.