A semantic standard makes sharing and exchanging data between different stakeholders easier. Anyone involved can directly use and interpret the data of the other person. This stimulates the re-use of data and reduces the cost of exchange.
In the semantic web, data is distributed in a different way so that the AI driven machines and the digital gatekeepers of the future such as Siri, Alexa, Cortana, Google Assistant, .... use and interpret the data. The semantic standard provides machine-readable data.
The opening of semantic data initiates innovation and will enable companies to develop more intelligent products and services. We also have richer data by linking the data. Enriched data from which more knowledge can be obtained.
Working together around standards and sharing data also breaks down monopolies and gives more opportunities to startups.