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Underspecification has become fashionable in computational semantics. In this chapter, I will try to give an idea of what semantic underspecification is, what it has been good for, and what the perspective for future application are. I will start with the inspection of specific phenomena and techniques which are usually associated with the notion of underspecification in Section 1 and 2, respectively. In Sect. 3, I will try to indicate the main motivations for using underspecification techniques. Then, I will point out one important use of the concept in some detail, i.e., direct reasoning with incomplete semantic information, discussing first the appropriate truth-conditional basis Sect. 4, and second perspectives on efficient reasonig systems Sect. 5. I will conclude with some remarks about the general status of the semantic underspecification concept, in Sect. 6.