UniversalBusinessLanguage is the NextBigThing for ElectronicDataInterchange, suitable for the age of XML. Ratified by OasisOrganization, it is waiting for WebServices to catch up (probably need a different spin here).
How is this different than EDI? The problem with EDI was not so much syntax, but that it left too much open for interpretation, resulting in multiple ways to encode the same thing.
Resources
different links at http://www.webservicessummit.com/eBusiness.htm