Microsoft Fabric IQ is a semantic intelligence layer for enterprise data platforms that creates a 'virtual brain' of business operations. It unifies structured, semi-structured, and unstructured data through OneLake, adds business meaning via ontologies, and enables both humans and AI agents to reason and act on live operational data. Key capabilities include real-time intelligence with event streaming (supporting MQTT, Spark structured streaming, SQL operators), ontology building via Copilot with no-code tools, native graph analytics (GQL-based, now GA), anomaly detection, and an operations agent (GA) that monitors data, surfaces risks, and takes autonomous actions. A partnership with NVIDIA Omniverse enables physical AI use cases like 3D digital twins for airport and stadium operations. Siemens Healthineers shared how migrating from batch file processing to Fabric's real-time stack dramatically improved developer productivity and enabled proactive medical device servicing.