Wow! I had no idea how all the images on Google got labeled beyond what seems obvious. But the obvious doesn't really make sense does it? By the way, I suck at this game!
From a practical business perspective I can see immediate possibilities for this one. I wrote yesterday about a community of practice being formed within my company for the training that will deploy several Web 2.0 concepts. One of the concepts was a Wiki for various shared terms across the industry worldwide. What if we did the same thing with images? My company employs thousands of people worldwide manufacturing all manners of drug and biotechnology products. To develop a "glossary" of images and image names it would be much easier to locate an image or a training document containing a particular tagged image. This would lend itself to using materials already developed or some form of replication.