The following whitepaper of mine delves into the topic of semantics in the realm of SOA and services.
An area that I have not explored in the whitepaper is the usage of semantics to “discover” service offerings that are needed to deal with the "out of ordinary" alternate execution paths. It is true that today most of our processes are deterministic and follow a known or predetermined execution path. Any deviation from this deterministic execution path is typically handled by raising an exception or by routing the deviant information to a work flow component for human intervention. In future however, “runtime dynamic discovery” of services could be based on semantics that embed service ontology and process based state machine metadata - all of which work together in a business area to enable finding dynamic alternate execution paths that could be invoked to resolve “out of the ordinary” and exception situations.
As always your feedback on these thoughts and on the whitepaper content are invaluable.