OSM: an Open Service Model for global information brokerage and distribution

From a commercial point of view, the vast amount of information on products and services available on the Internet is difficult, if not impossible to search. Descriptions of these offerings appear in all kinds of formats and in various locations. Searches are usually text-based, whereas semantic-based searches would be more appropriate. The OSM project is a European initiative to create an effective marketplace for products and services delivered through on-line systems. The OSM project introduces the concept of brokers; brokers are intermediates who act as matchmakers. Brokers aim to find the best conditions for their clients (consumers and providers) to make a deal in a commercial transaction. This is achieved by matching appropriate consumers with relevant providers. Brokers can also mediate and make the exchange of information between the participating parties quicker, cheaper and better. They help to overcome the limitations of direct negotiations between customers and suppliers. Agent technology is becoming more popular on distributed and on-line systems such as the WWW. The flexibility of agents makes them suitable for many applications. The main area of application of OSM would be electronic trading, including services such as electronic publishing, personalised news and information retrieval. New markets will present new opportunities in value-added services, brokerage centres and intermediate agencies.