The OMG is best known for its role in IT standards, such as the Unified Modeling Language (UML) and Common Object Request Broker Architecture (CORBA).
'Business Semantics of Business Rules' is part of the OMG's current initiative on Model Driven Architecture (MDA), which seeks to address business requirements as well as IT system concerns.
"The objective of this RFP is to allow
business people to define the policies and rules by which they run
their business in their own language, in terms of the things they deal
with in the business, but in ways that are clear, unambiguous and
readily translatable by Information systems experts into executable
rules for many kinds of automated systems."
~ (from the BSBR RFP)
The OMG has also requested related proposals, addressing business process specification, rule management, and the representation of production rules.
Proposals accepted by the OMG membership will be the basis for development of standards for business rules and business processes, which, over the next couple of years, should take their place alongside OMG technical standards.
One of the OMG's important objectives is to encourage development of tools to support recommended standards.
So we should expect to see new tools for capturing and managing rules, for exchanging vocabularies and rules between organizations, and for automatic transformation into IT systems.