Semantic Web is an extension of the Internet. In the Semantic Web, information is defined explicitly with semantics so that computers may coordinate with human more effectively. The goal of the Semantic Web is to fully utilize the potential of the Internet, and ultimately, to enable computersupported global knowledge exchange through technology. Ontologies play a central role in the development and applications of the Semantic Web. The scope of ontologies goes beyond traditional library classification schemes, philosophy, and knowledge representation. The development and application of Semantic Web technologies have attracted attentions from business marketing, management, and major industries. Research has reported that ecommerce activities rely heavily on ontologies to support browsing, searching, and interoperability in knowledge management. This paper reviews current development of the Semantic Web, including areas of application, major technologies and standards, and trends. A research agenda for the Semantic Web is also discussed.
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