Model-based approach

Bill Gates remains a big believer in the power and potential of Web services. He contends that standards will generate a "more model-based approach to developing applications."

"With the growth of XML and Web services, we're getting closer to being able to visualize any kind of business process and quickly develop software that can adapt to companies' changing needs," states Gates. "For example, today when a firm makes an acquisition or changes a key business process, the IT department often must embark on the time-consuming and expensive task of rewriting and testing the underlying software. But as we move toward a world of rich Web services and development tools that instinctively understand business processes, businesses can simply make the changes they want and the code will take care of itself."