Enhancing Event Extraction and Impact Analysis with Knowledge Graph Augmented Transformer

Understanding the impact of events reported in news articles plays pivotal roles in various tasks. In this study, we propose a framework for extracting event components from the news and analyzing their multifaceted impact. The framework employs transformers techniques for event extraction and leverages a biography knowledge base to assess the potential impact of events across social, political, economic, and culture (SPEC) dimensions. Our framework achieves an F1-score of 78.12% in event identification as well as significant accuracy score in evaluating the impact levels prediction. By integrating results from event extraction and impact analysis, the level of multifaceted influence of the event along with the event information are effectively visualized. This comprehensive approach enhances understanding of multi-perspective interpretation and supports insights for various applications.