In this article, we explore the potential of three new W3C standards defined for the Semantic Web: Web Ontology Language (OWL),¹ Semantic Web Rule Language (SWRL), and Resource Description Framework (RDF). They allow the creation of an ontology, a model of a system that is compact and practical for use by programmer analysts working with business analysts. Unlike a UML model, an ontology is complete and can be used to automatically generate a fully functional transactional system.