FutureTDM – This is what Europe can do to Stimulate Text and Data Mining

Text and data mining – using algorithms to analyse content in ways that would be impossible for humans – is shaping up to be a vital research tool of the 21st century. But Europe lags behind other parts of the world in adopting these new technologies. The FutureTDM project (www.futuretdm.eu) has just concluded its’two-year EC-funded research investigating what’s holding Europe back. The project consortium, consisting of 10 European partners led by SYNYO, met with stakeholders and experts from all over Europe, gathering input and carrying out research to understand how Europe can take steps to support the uptake of TDM.

The potential benefits – and risks – are huge. According to the project’s economic analysis, TDM technologies could have an impact of as much as USD 110 billion on the European economy by 2020. If Europe is not ready to foster and support the use of TDM, the risk is seeing talent and economic benefits go elsewhere.

Legal barriers are a big problem. TDM processes often involve copying content for analysis, so applications of TDM may fall foul of copyright laws. The EU has a fragmented landscape of restrictive, often unclear laws that can restrict re-use of content for TDM. Skills and education in this area also need a boost. Data analysis is fast becoming “the new IT”, and people in all fields, from fashion to finance, could benefit from an education in fundamental data literacy and computational thinking skills. Lack of infrastructure and economic incentives are lesser concerns. More information on these barriers is available from the FutureTDM report Policies and Barriers of TDM in Europe.

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