The Basic Input/Output System (BIOS) is to be succeeded by UEFI. The BIOS is an integral part of any computer since it initializes a machine before the OS takes over, but it has changed little in 25 years and was never designed to with the long term in mind. UEFI will mean faster boot times, various design enhancements, a mouse-controlled user interface, and many other improvements. The video embedded below is just a taste of what's to come.
Hopefully we'll see some standardization for UI navigation; it would be a shame if every single UEFI worked and looked differently (like today's BIOS does). Experts are predicting that UEFI will start dominating BIOS in 2011. Whether that will happen or not is yet to be seen, but having and industry leader like Asus pushing forward certainly helps.