1) The document discusses the concept of a "smart society" where computers and people can combine their strengths to tackle societal challenges. 2) A smart society would involve ubiquitous sensing to generate big data, both local and social interpretation of that data to develop semantics, and coordinated actions by individuals and communities. 3) Key aspects that would need to be addressed include developing a theory of diversity to handle different people, machines, goals and data, as well as a theory of compositionality to allow cooperation across these diverse elements. This would involve closing the semantic gap between humans and machines.