Admittedly, much of this is way over my head. But this graph sums up the jist of the story.
The semantic web is the term used by the computer and internet industry to describe the next phase of the web's development, and essentially involves building web-based connectivity into any piece of data — not just a web page — so that it can "communicate" with other information.
Whereas the existing web is a collection of pages with links between them that Google and other search engines help the user to navigate, the "semantic web" will enable direct connectivity between much more low-level pieces of information — a written street address and a map, for instance — which in turn will give rise to new services.
"Using the semantic web, you can build applications that are much more powerful than anything on the regular web," Mr Berners-Lee said. "Imagine if two completely separate things — your bank statements and your calendar — spoke the same language and could share information with one another. You could drag one on top of the other and a whole bunch of dots would appear showing you when you spent your money.