The new Icelandic Word Web (IW) is a language technology focused redesign of a lexicosemantic database of semantically related entries. The IW’s entities, relations, metadata and categorization scheme have all been implemented from scratch in two systems, OntoLex and SKOS. After certain adjustments were made to OntoLex and SKOS interoperability, it was also possible to implement specific IW features that, while potentially nonstandard, form an integral part of the Word Web’s lexicosemantic functionality. Also new in this implementation are access to a larger amount of linguistic data, a greater variety of search options, the possibility of automated processing, and the ability to conduct research through SPARQL without possessing a mastery of Icelandic.

Automatic term extraction (ATE) from texts is critical for effective terminology work in small speech communities. We present TermPortal, a workbench for terminology work in Iceland, featuring the first ATE system for Icelandic. The tool facilitates standardization in terminology work in Iceland, as it exports data in standard formats in order to streamline gathering and distribution of the material. In the project we focus on the domain of finance in order to do be able to fulfill the needs of an important and large field. We present a comprehensive survey amongst the most prominent organizations in that field, the results of which emphasize the need for a good, up-to-date and accessible termbank and the willingness to use terms in Icelandic. Furthermore we present the ATE tool for Icelandic, which uses a variety of methods and shows great potential with a recall rate of up to 95% and a high C-value, indicating that it competently finds term candidates that are important to the input text.