Type in anything you want to know. I typed in "International space station" and it fetched all the data concerning exactly where it is over the earth right now, its velocity and speed, and other awesome info. Right now the space station is hovering over Germany.
The idea of Wolfram Alpha is that anyone will be able to use normal English language to design a program that will retrieve the information you want, even if you're not quite sure. It can solve complex mathematical equations for you, research anything, and present information in a logical, intuitive manner. This really is a new step not just in search engines, but in computing in general. It really is capable of data analysis in a way never before thought of.
You can watch the video podcast here:
Pretty sweet!
Whoah...it also analyzes and composes music for you. You can create any music you want, analyse any music you want, and look at graphical representations of it. Apparently a lot of composers are already using it.
Interesting to note, he's trying to use this code engine to try to solve the theory of everything. No one has any clue how he's going to do that, including himself, but he's confident that within a decade we should have some answers.
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