The Vision

Most of the current web content is designed for human consumption.
The semantic web will change that by:
- Adding semantic tags, the meaning of these tags will be given by ontologies
- The ontologies will also provide inference rules.
- The whole thing will be as decentralized as possible. No central ontology. No central reasoning engine or rules.
It will (has?) lead to the development of Internet-based multiagent systems that share-search-buy-sell information on behalf of the users.
Check out Tim's video and also this one.